Office of Fair Trade - Merger Update RNS Number : 6903R Office of Fair Trading 21 November 2012 111/12 21 November 2012 OFT RELEASES ANGLO AMERICAN FROM CERTAIN UNDERTAKINGS AGREED IN 2000 Today the OFT has varied undertakings Anglo American plc (Anglo American) gave in 2000 prior to its purchase of Tarmac plc in the same year. Under these undertakings, given to the Secretary of State for Trade and Industry in lieu of a reference to the Competition Commission (CC), Anglo American agreed to divest, and not to re-acquire an interest in certain aggregate, asphalt and readymix concrete assets. These included two asphalt plants in Ackworth and Renishaw. In May 2012, the CC published its decision regarding the proposed joint venture between Anglo American and Lafarge S.A. The CC found that the joint venture, which included the asphalt plants in Ackworth and Renishaw, would not result in a substantial lessening of competition in the areas surrounding these plants. As a result of the analysis carried out by the CC, the OFT has concluded that the undertakings given by Anglo American that it should not hold an interest in these two asphalt plants are now obsolete, and has agreed to vary the undertakings accordingly. The remaining undertakings still apply. NOTES 1. In March 2000, Anglo American gave undertakings to the Secretary of State in lieu of a reference to the CC of its proposed acquisition of Tarmac plc. Amended undertakingswere subsequently accepted in September 2000. Both undertakings documents are available to download from the Anglo American undertakings page. 2. Anglo American undertook to divest a number of assets, including the asphalt plants in Ackworth and Renishaw, in order to address the competition concerns identified at that time. Further, Anglo American gave undertakings not to re-acquire an interest in those assets in the future to the Secretary of State. The OFT has the power to supersede, vary or release the undertakings by virtue of the Enterprise Act 2002 (Schedule 24, paragraph 16) and the Enterprise Act 2002 (Enforcement Undertakings) order 2006 (SI 2006 No.354) which came into force on 10 March 2006. 3. Following terms of reference sent by the OFT on 2 September 2011, on 1 May 2012 the CC published its report into the anticipated joint venture between Anglo American and Lafarge S.A. (the joint venture). The CC's analysis of the joint venture included the asphalt plants in Ackworth and Renishaw. The CC did not find that the asphalt plants covered by the undertakings raised competition concerns. 4. The OFT received an application on 5 October 2012 from Anglo American for a variation of the 2000 Undertakings. The variation requested was to release Anglo American from the undertakings that it would not hold any interest in the Ackworth and Renishaw asphalt plants. MEDIAenquiries: 020 7211+ Pritie Billimoria 8708 Kasia Reardon 8901 Russell Guthrie 8899 Frank Shepherd 8133 Elliott Ball 8898 Out of hours: mobile: 07774 134814 http://twitter.com/OFTgov http://www.oft.gov.uk PUBLIC enquiries: 0845 7224499 firstname.lastname@example.org This information is provided by RNS The company news service from the London Stock Exchange END MERFEDFFFFESEEF -0- Nov/21/2012 12:00 GMT
Office of Fair Trade Merger Update
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