EUR-Lex - 31975D0448 - EN

Article 1

The acquisition by Compagnie Lorraine Industrielle et Financière of the majority of the share capital in Marine-Firminy in the form which that company will take as a result of applying the agreement of 13 January 1975 is hereby authorized.

Article 2

The authorization is given under the following conditions: 1. Schneider shall dispose of its holding in excess of 10 % in the share capital of CLIF/Marine before 31 December 1976;

1. no member of a management organ in the CLIF/Marine group or in the Schneider group shall exercise like functions in the undertakings of the other group ; this condition does not apply to the joint control of Creusot-Loire;

1. no member of a management organ in the CLIF/Marine group shall exercise like functions in third party undertakings or holding companies engaged in the production or the distribution of steel products;

1. no member of a management organ of undertakings or holding companies or undertakings within the meaning of Article 80 shall be invited to participate in the management of the CLIF/Marine group;

1. the acquisition in future by the CLIF/Marine group of 10 % or more of the share capital of any undertaking engaged in the production or the distribution of steel, or in the further processing of steel with an annual steel consumption exceeding 50 000 metric tons, shall be subject to prior authorization by the Commission.

Article 3

The Commission may authorize, on receipt of a reasoned request, exceptions to the application of Article 2 (1) to (4).

Article 4

The Commission Decision of 5 April 1974 on interim measures concerning Schneider SA and Marine-Firminy SA is hereby repealed.

Article 5

The Commission Decision of 21 December 1974 on interim measures concerning Compagnie Lorraine Industrielle et Financière is hereby repealed.

Article 6

This Decision is addressed to Compagnie Lorraine Industrielle et Financière, Marine-Firminy SA and Schneider SA, Paris.

Done at Brussels, 5 March 1975.

For the Commission

The President

François-Xavier ORTOLI