Announced Actions for March 15, 2002

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The Commission has received an application from Diageo PLC (Diageo) regarding the FTC's decision and order contained in the consent agreement accepted on December 19, 2001 that conditionally allowed the acquisition by Diageo and Pernod Richard S.A. of the Seagram Spirits and Wine Group from Vivendi Universal S.A.. Under the terms of the order, which is available on the FTC's Web site, Diageo is required to divest the "Malibu Rum Assets" to a Commission-approved buyer. Through this application, the company has requested approval to sell these assets to Allied Domecq plc, under the terms of an agreement signed between the companies on February 27, 2002. The Commission is accepting public comments on the application until April 15, 2002, after which it will vote on whether to approve it. Comments should be sent to: Federal Trade Commission, Office of the Secretary, 600 Pennsylvania Ave., N.W., Washington, D.C. 20580. (FTC File No. 001-0057, Docket No. C-4032; staff contact is Daniel P. Ducore, Bureau of Competition, 202-326-2526; see press releases dated October 23 and December 19, 2001.)

The Commission has received an application from ChevronTexaco Corp. (ChevronTexaco) regarding the FTC's decision and order contained in the consent agreement accepted on September 7, 2001 that conditionally allowed the merger of the two companies. Under the terms of the order, which is available on the FTC's Web site, Chevron and Texaco are required to divest ChevronTexaco's interest in the Enterprise Fractionating Plant. Through this application, the company has requested approval to sell this interest to Enterprise Products Operation L.P. The Commission is accepting public comments on the application until April 15, 2002, after which it will vote on whether to approve it. Comments should be sent to: Federal Trade Commission, Office of the Secretary, 600 Pennsylvania Ave., N.W., Washington, D.C. 20580. (FTC File No. 011-0011; Docket No. C-4023; staff contact is Daniel P. Ducore, Bureau of Competition, 202-326-2526; see press releases dated September 7, and December 18, 2001; and January 4, February 8,, and March 12, 2002.)

Commission approval to reopen and modify an existing order:

The Commission has granted approval to open and modify an existing FTC order concerning Aventis, SA (Aventis, formerly Hoechst AG, et al.), relieving Aventis of further divestiture obligations under the order. The FTC order required Aventis to divest its newly developed anti-coagulant drug, Revasc, within six months. As Aventis did not comply with this requirement, under the terms of the order, it was required to divest its established product Refludan instead of Revasc. In a letter dated September 26, 2001, the Commission approved a divestiture of Refludan assets to Schering AG, pursuant to an application filed by the trustee appointed by the Commission to divest the Refludan assets. In that letter, the Commission noted that the divestiture to Schering "did not include all of the assets that are required to be divested by the Order."

As detailed in a November 19, 2001 petition to the Commission, which was subject to public comment, Aventis requested that the Commission modify the final order so that its terms conform to the divestiture approved by the Commission and specify that it may: 1) retain its manufacturing facility in Romainville, France - specifically, the portion of the facility where the active ingredient of Refludan is manufactured - in exchange for a manufacturing and supply agreement with the purchaser that is broader than that required by the order; 2) receive from the purchaser a license to use certain intellectual property that must be divested to the purchaser pursuant to the order for applications unrelated to the relevant markets defined in the order; and 3) retain title to certain intellectual property, but grant exclusive rights to Schering for all applications relevant to Refludan. Through this action, the Commission has approved the terms detailed in Aventis's application, relieving it of further divestiture obligations.

The Commission vote to reopen and modify the order was 4-0, with Chairman Timothy J. Muris not participating. (Docket No. C-3919; staff contact is Daniel P. Ducore, 202-326-2526; see press releases dated December 7, 1999; and August 17, August 25, September 28, and November 7, 2001.)

Copies of the documents mentioned in this release are available from the FTC's Web site at http://www.ftc.gov and also from the FTC's Consumer Response Center, Room 130, 600 Pennsylvania Avenue, N.W., Washington, D.C. 20580. Call toll-free: 1-877-FTC-HELP.

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