Brussels, 05/05/2003 (Agence Europe) - The Commission has published best practice guidelines for divestiture commitments in merger cases. The draft code was submitted to interested parties in a consultation exercise last summer. The guidelines are designed to help merging parties and their legal representatives in their dealings with the Commission in order to enable the Commission to clear a merger or an acquisition which otherwise would create or strengthen a dominant position. Having received comments during the consultation, the Commission has now published a Standard Model for Divestiture Commitments and a Standard Model for Trustee Mandates under the Merger Regulation. These two standard texts will serve as best practice guidelines for the negotiation and implementation of remedies but are not exhaustive and can be adapted to suit specific cases.
The Standard Model for Divestiture Commitments describes all requirements for achieving full and effective compliance with divestiture commitments, clearly describing the divestiture procedure, the business to be divested, and the obligations of the parties for the interim period. The Standard Models for Trustee Mandates sets out the role and function of both types of trustees referred to in the Standard Commitments. The standard models are based upon the experience the Commission has gained in fashioning remedies in the last 12 years since the implementation of the Merger Regulation and on the Commission's remedies policy as set out in the Notice on Remedies, adopted in December 2000, and comments received. The Commission notes that the Models will be regularly updated in line with developments and experiences. They are published on http: //europa.eu.int/comm/competition/mergers/legislation/