On 24 May 2004 the Moscow arbitrazh court upheld a decision of the Federal Antimonopoly Service made in January 2004. The decision required GM-AvtoVAZ to delete a clause from their joint venture agreement obliging AvtoVAZ to gradually terminate production of the car model Niva to increase sales of the jointly produced Chevrolet Niva. As the old Niva and the new Chevrolet Niva are the two main sports-utility vehicles sold in Russia, the clause was deemed anti-competitive. The joint venture has been in place since 2002, but the clause was reviewed during a merger clearance procedure concerning the acquisition of additional shares by AvtoVAZ in the joint venture. The court decision has not yet been published, but it could contribute to clarify how courts and the Federal Antimonopoly Service analyse anti-competitive clauses and ancillary restraints in connection with joint venture agreements.

Source: Press Release by the Federal Antimonopoly Service, 24 May 2004, http://www.maprf.ru/ru/press_center/Press_releases/2004/05/24/20040524-1502.shtml Torsten Syrbe, Clifford Chance e-mail: [email protected]