Brussels, 15/11/2002 (Agence Europe) - The European Commission has confirmed that Tetra Laval has again submitted notification for the purchase of Sidel, following the annulment by the Court of First Instance of its veto on the operation (see EUROPE of 26 October 2002, p.10). "Article 10(5) of the Mergers Regulation provides for, when a decision is annulled by the CFI, the deadline starts to run the following day, in this case 28 October", the spokeswoman Amelia Torres stipulated. The Commission has a month to examine the request and will thus pass down its decision on 29 November. As soon as the ruling was published, Tetra Laval had announced its intention of presenting a new planned merger.
The spokeswoman also announced that the Commission was also in contact with Schneider Electric which is reconsidering a merger with Legrand, the CFI also having annulled its veto to the operation (see EUROPE of 23 October, p.10). Before resuming contact with Legrand, Schneider ould like to have assurances from the competition authority. As a reminder, the CFI agreed with the Commission as to the problems of competition raised by the operation in France. the French group should take a decision "end-November, at the latest early-December". The group has indeed only until 10 December to renounce the plan to sell Legrand shares to the investment group Wendel.