AUTHORITY AUTHORIZES OPERATIONS RE API-IP, FINMECCANICA-DATAMAT, PIZZAROTTI-GARBOLI
PRESS RELEASE
ANTITRUST: Authority authorizes operations re
API-IP, Finmeccanica-Datamat, Pizzarotti-Garboli
The Italian Competition Authority, at its meeting of 25 August 2005, gave its consent to the takeovers involving API-IP, Finmeccanica-Datamat and Pizzarotti-Garboli.
API-IP
The Authority decided not to open an investigation into the purchase of 100% of IP’s share capital by API. This new operation was announced by the parties on 3 August after the Antitrust Authority had decided on 30 June to open an investigation into the previously proposed purchase (covering only 90% of IP’s shares and accompanied by a series of contractual clauses) on the grounds that it might restrict competition. The new series of contracts, covering the purchase of all of IP’s shares and the provision of products and services, takes the Authority’s earlier reservations into account. According to an analysis carried out by the Antitrust Authority, the operation announced on 3 August will not lead to the creation or strengthening of a dominant market position in such a way as to eliminate or substantially and permanently reduce competition. The text of the decision may be viewed on the Authority’s website.
In parallel, the Authority decided not to proceed for a possible agreement to restrict competition.
Finmeccanica-Datamat
The Authority decided not to open an investigation into the purchase by Finmeccanica of 52.7% of Datamat’s share capital. The overlap of the two companies’ activities in the ICT market in the civilian and Aerospace and Defence sectors, according to an analysis carried out by the Antitrust Authority, will not strengthen a dominant position in such a way as to restrict competition.
Pizzarotti-Garboli
The Authority decided not to open an investigation into, hence authorizing, the purchase by Pizzarotti of 89,99% of the share capital of Garboli by way of acquisition of shares by Conicos (which currently controls the company).
Rome, 30 August 2005