„It should be borne in mind that it is suffi cient for the Commission to show that the undertaking concerned participated in meetings at which anticompetitive agreements were concluded, without manifestly opposing them, to prove to the requisite standard that the undertaking participated in the cartel. Where participation in such meetings has been established, it is for that undertaking to put forward evidence to establish that its part...

The paper presents the way in which the European Commission applied the transaction procedure in its second case ended by a transaction – case COMP/38866, Animal Feed Phosphates. This is the first case (and the only one so far) in which the Commission ended the investigation by a transaction even if only some of the parties under investigation transactioned (the so-called hybrid case).