The European Commission is to investigate whether the non-compete clauses in a nuclear joint venture contract between Siemens and Areva violate EU antitrust rules.
The German engineering firm has asked the European Commission to overturn the clauses as well as other contractual restrictions that could prevent it from competing with Areva in some areas of the nuclear power plant industry.
The move is the latest development in arbitration proceedings between the two companies after Siemens announced last year that it wanted to pull out of their nuclear joint venture, Areva NP. Siemens has since sought to establish a new joint venture with Russia’s Rosatom in the nuclear field.
The European Commission says that it will conduct an in-depth investigation of the case but has given no indication of how long it will last. Siemens wants a swift resolution of the case, as well as of arbitration with Areva so that it can proceed with its venture with Rosatom.
Talks between Rosatom and Siemens have been delayed after a French court blocked the deal until mediation with Areva is complete.
Siemens would hold a 49 per cent interest in the joint venture with Rosatom. It held a 35 per cent stake in Areva NP but decided to pull out due to the lack of strategic influence that it had in the partnership and its desire to pursue its own growth plans for the nuclear market.
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