Brief: A.S. Création Tapeten: French supreme court announces decision in anti-trust proceedings

AS Creation Tapeten AG

09/11/2017 07:13

Nov 9 (Reuters) - A.S. CRÉATION TAPETEN  ACWNn.DE : 
    * IN APRIL 2016, THE COURT OF APPEAL IN PARIS REDUCED THE 
PENALTIES IMPOSED BY THE FRENCH COMPETITION AUTHORITIES ON SCE 
AND MCF INVESTISSEMENT SAS, TWO MEMBER COMPANIES OF THE A.S. 
CRÉATION GROUP, BY EUR 2.9 MILLION FROM EUR 5.0 MILLION TO EUR 
2.1 MILLION 
    * THE FRENCH COMPETITION AUTHORITIES THEREUPON LODGED AN 
APPEAL 
AGAINST THIS VERDICT WITH THE FRENCH SUPREME COURT ("COUR DE 
CASSATION") 
    * SAID ON WEDNESDAY SUPREME COURT ANNOUNCED THE VERDICT AND 
REVOKED THE VERDICT OF THE COURT OF APPEAL 
    * SAID CASE WILL THUS BE RETURNED TO THE COURT OF APPEAL, 
WHICH 
MAY RETRY THE CASE 
    * SCE AND MCF HAVE TO DECIDE WITHIN TWO MONTHS IF THE COURT 
OF 
APPEAL SHALL RETRY THE CASE OR IF THE COMPANIES ACCEPT THE 
PENALTIES ORIGINALLY IMPOSED 
    * THIS DECISION WILL BE TAKEN AFTER HAVING EXAMINED THE 
SITUATION 
TOGETHER WITH THE COMPANIES' LEGAL COUNSEL 
    * BECAUSE OF THE VERDICT OF THE SUPREME COURT THE AMOUNT OF 
EUR 
2.9 MILLION WILL HAVE TO BE REPAID TO THE COMPETITION 
AUTHORITIES UNTIL FURTHER NOTICE 
    * AS A CONSEQUENCE, THERE WILL BE NO IMPACT ON THE EARNINGS 
POSITION OF THE A.S. CRÉATION GROUP IF THE PENALTIES ORIGINALLY 
IMPOSED ARE ACCEPTED 
    * FINANCIAL SITUATION WILL BE AFFECTED BY A CASH OUTFLOW OF 
EUR 
2.9 MILLION 
 
     
 Source text for Eikon:  urn:newsml:reuters.com:*:nEQ2ljCy9a 
     
 Further company coverage:  ACWNn.DE   
    
 
 
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