Review of Undertakings Given to the Competition Commission by Kemira Growhow Oyj, Kemira Growhow Holdings Limited, Kemira Growhow UK Limited, Terra Industries Inc and Terra Nitrogen (UK) Limited

📖 The Scoop

In July 2007, the Competition Commission's (CC's) 2007 report (ISBN 9780117037854) was published on the anticipated joint venture (the JV) between Kemira GrowHow Oyj (Kemira) and Terra Industries Inc (Terra). The CC concluded that the JV constituted a relevant merger situation which might be expected to result in a substantial lessening of competition (SLC) in a number of markets in which Kemira and Terra overlapped. This new report, sets out the findings of the 2007 report as well as the Undertakings and background since the 2007 report. The Commission has set out a number of conclusions that reflect a change of circumstances in respect of these companies. Specifically the closure of the Severnside plant, the sale to Azelis of the CO2 liquefaction plant at Billingham and the acquisition of Kemira by Yara. The Commission has concluded, notwithstanding the change of circumstances and for the reasons in paragraph 5.93, it is not appropriate to vary or release the obligations in paragraphs 8 to 10 of the Undertakings, but the parties should be released from the obligations in paragraph 7. Paragraph 11 of the Undertakings no longer has practical effect; for the avoidance of doubt and good administrative practice the parties should be released from the obligations in this paragraph also.

Genre: Business & Economics / Management (fancy, right?)