Application for approval of proposed divestiture: The Commission has received a petition for approval of proposed divestiture from General Electric Company (GE) related to the FTC decision and order regarding GE’s acquisition of InVision Technologies (InVision). Under the terms of the order, within six months of the date the consent agreement was executed GE was required to divest its “X-Ray Nondestructive Technology (NDT) Business,” as that term is defined in the order, to a Commission-approved buyer. In its petition, GE has requested Commission approval to divest the X-Ray NDT Business assets to Prinzipal 26. V V GmbH, a subsidiary of Andlinger & Company, Inc.
The FTC is accepting public comments on the proposed divestiture for 30 days, until December 1, 2004, after which it will decide whether to approve it. Comments should be sent to: FTC, Office of the Secretary, 600 Pennsylvania Ave., N.W., Washington, DC 20580. (FTC File No. 041-0106, Docket No. C-4119; the staff contact is Sean Dillon, Bureau of Competition, 202-326-3575; see press releases dated September 15 and October 29, 2004.)
Commission approval of proposed divestiture: Following a public comment period, the Commission has approved a proposed divestiture by Sanofi-Synthelabo and Aventis. The company’s application concerned the final consent order issued to address competition problems raised by Sanofi’s acquisition of Aventis. Under the terms of the decision and order in this matter, Sanofi was required to divest certain assets and royalty rights to ensure that competition was maintained following the consummation of the transaction. In its petition, the companies requested Commission approval to divest the “Estorra Royalties,” as that term is defined in the order, toPaul Royalty Fund II, L.P., a limited partnership under the control of Paul Capital Partners and PRF Sleep Holdings, LLC, an affiliate of Paul Royalty Fund (collectively referred to as Paul Capital). The FTC has now approved that request. (FTC Docket No. C-4112; the staff contact is Paul Frontczak, Bureau of Competition, 202-326-3002; see press releases dated July 28 and September 3, 2004.)
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, DC 20580. Call toll-free: 1-877-FTC-HELP.