EU mergers and takeovers (April 10) =2

Thu Apr 10, 2008 10:18am EDT

APRIL 29

-- Israeli petrochemical products maker Carmel Olefins and Belgian chemicals producer Domo Chemicals acquire joint control of Belgian polypropylene producer Domo Polypropylene (notified March 25/deadine April 29/simplified)

APRIL 30

-- Dutch financial services provider Delta Lloyd, a unit of Aviva (AV.L), buys Belgian life insurer Swiss Life Belgium (notified March 26/deadline April 30/simplified)

-- Belgian electricity and gas supplier Electrabel, controlled by French utility services management company Suez LYOE.PA, buys French electricity and fluvial engineering company Compagnie Nationale du Rhone (notified March 26/deadline April 30)

-- U.S. chemicals provider Dow Chemical Co (DOW.N) and U.S. petrochemical products supplier Chevron Phillips Chemical Co acquire joint control of U.S. styrene and polystyrene producer Americas Styrenics (notified March 26/deadline April 30/simplified)

-- Indian passenger car manufacturer Tata Motors (TAMO.BO) buys the Jaguar and Land Rover business of Ford Motor Co (F.N) (notified March 26/deadline April 30/simplified)

-- U.S. enterprise software company Oracle Corp (ORCL.O) buys U.S. middleware software company BEA Systems BEAS.O (notified March 26/deadline April 30)

MAY 5

-- French petroleum refiner Total France (TOTF.PA) and South Korean refiner S-Oil Corp (010950.KS) acquire joint control of South Korean lubricants manufacturer and distributor Total Isu Oil Co (notified March 27/deadline May 5/simplified)

MAY 6

-- German pay-television and video-on-demand company SevenSenses, a subsidiary of German ProSiebenSat.1 (PSMG_p.DE), and German Internet service provider 1&1 Internet, a subsidiary of German Internet service provider United Internet (UTDI.DE), create a German video-on-demand company, Maxdome (notified March 28/deadline May 6/simplified)

-- U.S. Abe Investment, a unit of U.S. private equity fund company Hellman & Friedman Capital Partners VI, buys U.S. digital media content creator and distributor Getty Images GYI.N (notified March 28/deadline May 6/simplified)

-- Nordic Capital VI and Nordic Capital VII, units of Jersey investment fund company Nordic Capital, buy Finnish IT services provider TietoEnator Oyj (TIE1V.HE) (notified March 28/deadline May 6)

MAY 8

-- NLMK International, a Dutch unit of Russian steel producer OJSC Novolipetsk Steel, buys Cypriot steel trader Novexco and Novex Trading, a Swiss trader (notified April 1/deadline May 8/simplified)

MAY 14

-- CEZ (CEZPsp.PR), a Czech energy conglomerate, and MOL MOLB.BU, a Hungarian integrated oil and gas company, create a joint venture to develop gas-fired power plants and related gas infrastructure in Slovakia, Hungary, Croatia and Slovenia (notified April 3/deadline May 14/simplified)

-- Spanish oil products company Galp Espana, a unit of Portuguese energy company Galp Energia (GALP.LS), buys Spanish oil products company AGIP Espana (notified April 3/deadline May 14)

MAY 15

-- European aerospace and defence company EADS (EAD.PA) and French public utilities management company Sita France, controlled by Suez LYOE.PA, buy French aircraft storage company TARMAC Aerosave (notified April 4/deadline May 15/simplified)

SECOND-STAGE REVIEWS BY DEADLINE

MAY 15

-- STX Corp (011810.KS), a South Korean shipbuilding, energy and heavy industries group, buys Aker Yards AKY.OL of Norway, also engaged in shipbuilding (notified Nov. 16/deadline Dec. 21/in-depth opened Dec. 20/deadline May 15)

MAY 21

-- TomTom NV (TOM2.AS), a Dutch maker of navigation software and devices, buys Tele Atlas TA.AS, a Dutch producer of digital maps (notified Oct. 22/deadline Nov. 28/in-depth review deadline April 17/extended to May 5/extended to May 21)

JUNE 13

-- Sequana Capital unit Arjowiggins Group of France, a producer of specialty paper, buys a paper mill in Germany from M-real MRLBV.HE of Finland (notified Oct. 31/deadline Dec. 7/in-depth probe ordered/deadline April 28/on Jan. 10, extended to May 23/15 working days extension/new deadline June 13)

JULY 22

-- Austrian oil and gas group OMV (OMVV.VI) buys Hungarian crude oil producer and refiner MOL MOLB.BU (notified Jan. 31/ deadline March 6/on March 7, extended to July 22)

AUG. 8

-- A U.S. unit of Finnish communications networks company Nokia (NOK1V.HE) buys U.S. digital map data company Navteq NVT.N (notified Feb. 19/deadline March 28/in-depth review opened March 28/deadline Aug. 8)

SUSPENSIONS AND WITHDRAWALS

None

GUIDE TO EU MERGER PROCESS

DEADLINES:

The European Commission has 25 working days after a deal is filed for a first-stage review. It may extend that to 35 working days, to consider either a company's proposed remedies or an EU member state's request to handle the case.

Most mergers win approval but occasionally the Commission opens a detailed second-stage investigation for up to 90 additional working days, which it may extend to 105 working days.

SIMPLIFIED:

Under the simplified procedure, the Commission announces the clearance of uncontroversial first-stage mergers without giving any reason for its decision. Cases may be reclassified as non-simplified -- that is, ordinary first-stage reviews -- until they are approved.

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