EU mergers and takeovers (June 29)
BRUSSELS, June 29 |
BRUSSELS, June 29 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:
APPROVALS AND WITHDRAWALS:
-- French banking and insurance services provider Credit Agricole (CAGR.PA) to acquire control over part of French fund custody and fund administration company CACEIS (approved June 29)
NEW LISTINGS:
-- Italian automaker Fiat SpA (FIA.MI) to acquire U.S. counterpart Chrysler LLC [CBS.UL] (notified June 23/deadline July 29)
EXTENSIONS AND OTHER CHANGES:
None
FIRST-STAGE REVIEWS BY DEADLINE:
JUNE 29
-- UK mobile supplier Carphone Warehouse (CPW.L), via its wholly owned UK subsidiary TalkTalk Group, acquires British Internet access provider Tiscali UK, a subsidiary of Tiscali SpA (TIS.MI) (notified May 20/deadline June 29)
JUNE 30
-- Italian motorway management company Sias (SIS.MI), Italian motorways company Atlantia (ATL.MI) and Spanish concession services company Acciona (ANA.MC) acquire joint control of five Chilean toll motorways, Operacion y Logistica de Infraestructuras, Litoral Central, Vespucio Sur, Gestion Vial and Autopista Nororiente ("Itinere Chilean assets") (notified May 25/deadline June 30/simplified)
JULY 1
-- German carrier Deutsche Lufthansa AG (LHAG.DE) to acquire counterpart Austrian Airlines AUAV.VI (notified May 8/ deadline June 17/extended on June 11/new deadline July 1)
-- U.S. firm Safran USA, controlled by French aerospace company Safran SA (SAF.PA), to acquire joint control of U.S. detection products company General Electric Homeland Protection, currently controlled by U.S. company General Electric (GE.N) (notified May 26/deadline July 1/simplified)
JULY 6
-- U.S. biomedical and pharmaceutical company Pfizer (PFE.N) to acquire U.S. pharmaceutical and healthcare company Wyeth WYE.N (notified May 29/deadline July 6)
JULY 7
-- Brazilian food products firm Perdigao PRGA3.SA enters into a full merger with Brazilian peer Sadia SDIA4.SA (notified June 2/deadline July 7/simplified)
-- Luxembourg-based steelmaker ArcelorMittal (ISPA.AS) to acquire sole control of Noble European Holdings BV, a Dutch subsidiary of U.S. tailor-welded blanks maker Noble International Ltd NOBLQ.PK (notified June 2/deadline July 7)
JULY 8
-- UK oil and gas company BP (BP.L) and U.S. chemical products company Dupont (DD.N) to acquire joint control of U.S. company Biobutanol LLC, which develops and licenses technology related to the commercial production of biobutanol (notified June 3/deadline July 8)
-- German healthcare and pharmaceutical group Celesio AG (CLSGn.DE), controlled by Franz Haniel & Cie GmbH, to take sole control of Pharmexx GmbH, which provides temporary employment services to pharmaceutical companies (notified June 3/deadline July 8/simplified)
JULY 9
-- British leisure travel company TUI Travel Holdings (TT.L) and Cypriot diversified asset holding company Oscrivia Ltd acquire joint control of leisure travel firms Voyage Kiev of Ukraine and VKO Moscow of Russia (notified June 4/deadline July 9/simplified)
-- Britain's Barclays Bank Plc (BARC.L) and Royal Bank of Scotland Group Plc (RBS.L) acquire joint control of Hillary S.a.r.l, a Luxembourg provider of medical assistance services that indirectly controls Spain's USP Hospitales S.L.U, a provider of similar services (notified June 4/deadline July 9/simplified)
JULY 13
-- French asset management company BNP Paribas Investment Partners SA, belonging to BNP Paribas (BNPP.PA), and peer Credit Agricole Asset Management Luxembourg SA (CAAM), belonging to Credit Agricole (CAGR.PA), acquire joint control of Luxembourg's Fund Channel, a logistic platform for distribution of UCITS products that was previously owned exclusively by CAAM (notified June 8/deadline July 13/simplified)
JULY 15
-- German energy supplier Energie Baden-Wuerttemberg AG (EnBW) (EBKG.DE) and Turkish conglomerate Borusan Holding take joint control of electricity producer Borusan Enerji, currently controlled solely by Borusan Holding (notified June 10/deadline July 15/simplified)
JULY 17
-- German Bosch Thermotechnik GmbH, controlled by industrial conglomerate Robert Bosch GmbH [ROBG.UL], acquires Loos Deutschland GmbH, a family-owned supplier of commercial and industrial boiler systems (notified June 12/deadline July 17)
-- Kazakh oil company Cooperatieve KazMunaiGaz PKI U.A., controlled by Kazakh national oil and gas company JSC National Company KazMunaiGaz RDGZ.KZ; and Austria's Euraisian Energy Holdings GmbH, controlled by China's largest oil and gas producer, China National Petroleum Corp (CNPC) [CNPET.UL], to take joint control of Kazakh oil and gas company JSC Mangistaumunaigaz (notified June 12/deadline July 17/simplified)
-- Dutch electronics manufacturer Philips (PHG.AS) to acquire sole control of Italian espresso machine maker Saeco International Group S.p.A (notified June 12/deadline July 17/simplified)
JULY 20
-- British drugmaker GlaxoSmithKline PLC (GSK.L) to acquire U.S. skincare company Stiefel Laboratories Inc (notified June 15/deadline July 20)
JULY 24
-- Spanish renewable energy and construction firm Acciona Energia Internacional S.A.U., belonging to conglomerate Acciona Group (ANA.MC), and Japanese trading house Mitsubishi Corp (8058.T) acquire joint control of Amper Central Solar SA, a Portuguese wholesale supplier of electricity (notified June 18/deadline July 24/simplified)
JULY 27
-- Italian transport and logistics company BLG Automobile Logistics Italia, belonging to the German BLG Logistics Group; and Belgian car terminal operator International Car Operators (Benelux) NV, belonging to Japan's NYK Group (9101.T), acquire joint control of Italian venture ICO BLG Automobile Logistics Italia, which operates a car terminal in the port of Gioia Tauro (notified June 19/deadline July 27/simplified)
JULY 28
-- Dutch private equity firm Fortis Private Equity, a subsidiary of Fortis Bank Nederland (Holding) NV [FORTH.UL], to acquire sole control of Kuiken NV, a Dutch holding group active in the distribution of heavy equipment (notified June 23/deadline July 28/simplified)
JULY 29
-- Italian mutual investment fund F2i Fondi Italiani per le Infrastrutture SGR SpA and Luxembourg private equity fund Finavias Sarl, indirectly owned by French insurer AXA Group (AXAF.PA), acquire joint control of the majority shareholding of Italian gas distributor Enel Rete Gas SpA (notified June 23/deadline July 29/simplified)
SECOND-STAGE REVIEWS BY DEADLINE:
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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