Brussels, 18/07/2002 (Agence Europe) - The European Commission has published for consultation draft standard models for divestiture commitments offered by merging parties in cases which present competition problems. The standard models -- on divestiture commitments and on trustee mandates -- are designed to serve as best practice guidelines to help merging parties and their legal representatives in their dealings with the Commission. The objective of the initiative is to make the negotiation and implementation of commitments more effective and efficient. The procedure establishes standard models, which will relieve the merging parties and the Commission of the heavy demands in terms of timing and resources during examination of the projects. The models will allow more time on the actual substance and implementation of the commitments. Business and legal circles as well as other interested parties can find the Standard Model for Divestiture Commitments and the Standard Model for Trustee Mandates at the following Internet address: http: //europa.eu.int/comm/competition/mergers/legislation/divestiture_commitments/index.html.
Interested parties have until the end of September 2002 to submit their comments to the Commission's Merger Task Force. On the basis of the comments received, the Commission intends to adopt standard texts for divestiture commitments and trustee mandates as best practice guidelines at the end of 2002.