Edition:
India

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


Thursday, 9 Nov 2017 

Nov 9 (Reuters) - A.S. CRÉATION TAPETEN ::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. 

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