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Re. Candover and Cinven-Springer purchase
- To: liblicense-l@lists.yale.edu
- Subject: Re. Candover and Cinven-Springer purchase
- From: ann.okerson@yale.edu
- Date: Sat, 2 Aug 2003 02:23:30 -0400
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----- Forwarded message from Carol Hutchins <carol.hutchins@nyu.edu> -- Date: Fri, 01 Aug 2003 17:54:58 -0400 From: Carol Hutchins <carol.hutchins@nyu.edu> Subject: from europa.eu.int (via google) To: ann.okerson@yale.edu Conditional clearance for acquisition of joint control by Candover and Cinven of German publisher BertelsmannSpringer DN: IP/03/1130 Date: 29/07/2003 TXT: FR EN DE PDF: FR EN DE DOC: FR EN DE IP/03/1130 Brussels, 29 July 2003 Conditional clearance for acquisition of joint control by Candover and Cinven of German publisher BertelsmannSpringer The European Commission has authorised the acquisition of joint control by the investment companies Candover and Cinven of the German based academic and professional publisher BertelsmannSpringer. The transaction will lead to a combination of BertelsmannSpringer and the Dutch publisher Kluwer Academic Publishers acquired by Candover and Cinven in 2002. It will also combine BertelmannSpringer's business with the French professional publisher MediMedia, co-controlled by Cinven. The Commission found that the transaction would raise competition concerns in the market for professional medical publishing in France. Candover and Cinven successfully resolved these concerns by offering commitments. Both BertelsmannSpringer and Kluwer Academic Publishers are active in the global market for academic publishing with a special focus on scientific, technical and medical (�STM�) journals, nearly exclusively published in English language. This market deals with the access to the latest developments in academic research. It exhibits some specific features: A main feature is the �must have� characteristic of certain journals. Universities depend on the information provided in such journals and cannot afford to cancel subscriptions without loosing access to the most recent issues discussed in the academic community. A further feature of the market are considerable annual price rises for more than a decade. The combined BertelsmannSpringer and Kluwer Academic Publishers will be the number two player in the market - lagging far behind the market leader Elsevier Science. Given the heterogeneity of journals and books published in different scientific disciplines and the heterogeneous nature of these books and journals even if published within a discipline, the Commission found no indications for a collective dominant position of Elsevier Science and the new entity resulting from the merger. BertelsmannSpringer and MediMedia are both active in the French and German markets for professional medical publishing. These markets comprise newspapers, magazines, drug directories mainly addressed to doctors and financed by advertising. Whereas the transaction did not raise competition concerns for the German market, the Commission's investigation showed that the operation would lead to a dominant position on the French market. Candover and Cinven removed these competition concerns by offering to divest BertelsmannSpringer's French business in the market for professional medical publishing, known under the name �Groupe Impact M�dicine�. ----- End forwarded message ----- ----- End forwarded message -----
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