EU mergers and takeovers (Jan 19)
BRUSSELS |
BRUSSELS Jan 19 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:
APPROVALS AND WITHDRAWALS:
None
NEW LISTINGS:
None
EXTENSIONS AND OTHER CHANGES
-- Compagnia Italiana di Navigazione to acquire Italian state-owned ferry group Tirrenia (notified Nov. 20/deadline extended to June 4 from Jan. 18 after the Commission opens an in-depth probe)
FIRST-STAGE REVIEWS BY DEADLINE
FEB 2
-- Japan's Sony to acquire sole control of mobile phone company Sony Ericsson which is jointly owned by Sony and Ericsson (notified Dec. 19/deadline Feb. 2/simplified)
FEB 6
-- French utility EDF to acquire sole control of Polish power group ERSA which is now jointly controlled by EDF and Energie Baden-Württemberg AG (EnBW) (notified Dec. 22/deadline Feb. 6/simplified)
-- Financial services company Advent International Corp to acquire 49.99 percent of industrial company Maxam (notified Dec. 22/deadline Feb. 6)
-- French agricultural cooperative Terrena and France's Lyonnaise de Eaux, which is a subsidiary of Suez Environnement to set up a water management joint venture (notified Dec. 22/deadline Feb. 6/simplified)
FEB 9
-- Deutsche Boerse and NYSE Euronext to merge (notified June 29/deadline extended to Feb. 9 from Jan. 23, the second extension, after the operators submitted additional concessions)
FEB 10
-- German food processing company Saria Bio-Industries, which is owned by Germany's Rethmann Group, to acquire sole control of Dutch food producer Teeuwissen, Dutch holding company Quintet, and Spanish holding company Jagero Holding II (notified Jan. 6/deadline Feb. 10)
FEB 15
-- Private equity fund Apollo Global Management to acquire chemical company Taminco from CVC Capital Partners (notified Jan. 11/deadline Feb. 15)
-- General Electric and software company Microsoft to set up a healthcare software joint venture (notified Jan. 11/deadline Feb. 15/simplified)
FEB 16
-- French utility EDF to acquire sole control of Polish power group Kogeneracja which it now jointly owns with Energie Baden-Wuerttemberg (EnBW) (notified Jan. 12/deadline Feb. 16/simplified)
FEB 20
-- French dairy producer Senoble and French agricultural cooperative Agrial to set up a joint venture (notified Jan. 16/deadline Feb. 20)
APRIL 2
-- U.S. healthcare company Johnson & Johnson to acquire Swiss medical devices maker Synthes Inc (notified Sept. 27/deadline extended to April 2 from March 19)
APRIL 25
-- German sugar company Suedzucker to acquire a 25 percent stake in British commodities trading company ED&F Man (notified Sept. 19/deadline extended for the second time to April 25 from March 30)
DEADLINE SUSPENDED TILL FURTHER NOTICE
-- U.S. Internet search engine Google to acquire U.S. handset maker Motorola Mobility (notified Nov. 25/Jan. 10 deadline suspended after the EU Commission asked for more information)
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 by 10 working days 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. (Editing by Foo Yun Chee and Barbara Lewis)
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