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EU Commission Ends Antitrust Proceeding After Areva and Siemens Agree to Limit Scope of Non-Compete and Confidentiality Obligations
29 June 2012
This case serves as an important reminder that parties entering into a joint venture capable of having an effect within the EU must define any restrictions on their behaviour in a manner which ensures that any non-compete clause (or other provision that is restrictive of competition between the parties) is directly related to and reasonably necessary for its implementation, or risk investigation and potential fines.
It also serves to clarify that non-compete obligations can be enforced against the jointly controlling shareholders not only for the duration of the joint venture but also (in so far as a withdrawing shareholder is concerned) for a period of up to three years following such withdrawal, at least in those cases where such withdrawing shareholder has had access to the confidential business information of the joint venture, provided that its scope is confined strictly to products and services constituting the core economic activity of the joint venture.
Mergers & Acquisitions
Dr. Thomas Schürrle
Daniel M. Abuhoff
Gary W. Kubek
Alyona N. Kucher
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