National Can Industries 01(R) – Panel Publishes Reasons [05/12/2003] The Takeovers Panel

Friday, 05 December 2003

NATIONAL CAN INDUSTRIES 01(R) – REVIEW PANEL PUBLISHES REASONS

The Takeovers Panel has today published the reasons for the decision of the Review Panel in the proceedings (the Proceedings) relating to National Can Industries Limited (NCI).

The Proceedings initially arose from an application made on 19 September 2003 by Visy Industrial Packaging Holdings Pty Ltd (VIPH) in relation to the affairs of NCI. The Initial Panel accepted undertakings provided by NCI and ESK Holdings Pty Ltd (ESK) as announced on 17 October 2003 in Panel media release TP 03/102.

As previously announced on 21 October 2003 in Panel media release TP 03/103, the decision of the Initial Panel was the subject of an application for review. The Review Panel announced on 17 November 2003 (see Panel Media Release TP 03/115), that it had decided not to alter the decision of the Initial Panel.

The reasons of the Review Panel in the Proceedings are available on the Panel's website at: http://www.takeovers.gov.au/display.asp?ContentID=16

The earlier Panel media releases mentioned in this media release are available on the Panel's website at: http://www.takeovers.gov.au/display.asp?ContentID=131

The Review Panel was Justice Robert Austin, (sitting President), John King and Alice McCleary.

George Durbridge
Director, Takeovers Panel
Level 47, Nauru House,
80 Collins Street, Melbourne VIC 3000
Ph: +61 3 9655 3553
George.durbridge@takeovers.gov.au