EU mergers and takeovers (Feb 8)

Related Topics

BRUSSELS | Wed Feb 8, 2012 11:50am EST

BRUSSELS Feb 8 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Financial services company Advent International Corp to acquire 49.99 percent of industrial company Maxam (approved Feb. 6)

-- French utility EDF to acquire sole control of Polish power group Kogeneracja which it now jointly owns with Energie Baden-Wuerttemberg (EnBW) (approved Feb. 7)

NEW LISTINGS

None

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

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 13

-- U.S. Internet search engine Google to acquire U.S. handset maker Motorola Mobility (notified Nov. 25/deadline extended to Feb. 13 from Jan. 10 deadline as the Commission restarts the clock following data submitted by Google)

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 20

-- French dairy producer Senoble and French agricultural cooperative Agrial to set up a joint venture (notified Jan. 16/deadline Feb. 20)

FEB 21

-- Private equity firms H.I.G. Europe Capital Partners and General Atlantic to acquire joint control of the FNZ Group, which provides investment management software to the financial services industry (notified Jan. 17/deadline Feb. 21/simplified)

FEB 24

-- Schneider Electric France and Bouygues Immobilier to set up a joint venture (notified Jan. 20/deadline Feb. 24/simplified)

-- GSO Capital Partners LP to acquire British house developer the Miller Group (notified Jan. 20/deadline Feb. 24/simplified)

-- Russia's EuroChem to acquire certain fertiliser assets from fertiliser maker BASF Antwerp (notified Jan. 20/deadline Feb. 24/simplified)

-- Chinese company TPV Technology Ltd to acquire Dutch electronics group Philips' television business (notified Jan. 20/deadline Feb. 24)

FEB 27

-- Dutch shipbuilder IHC Merwede, which is owned by Dutch lender Rabobank and other partners, and Belgian dredger DEME to set up a joint venture (notified Jan. 23/deadline Feb. 27/simplified)

FEB 29

-- Russian machine manufacturer OJSC Power Machines and Japanese electronic products company Toshiba Corp to set up a joint venture (notified Jan. 25/deadline Feb. 29/simplified)

- PetroFina, which is part of French oil major Total , to acquire a 35 percent stake in petrochemicals producer Fina Antwerp Olefins from U.S. oil company ExxonMobil , giving it full control of the company (notified Jan. 25/deadline Feb. 29/simplified)

MARCH 5

-- Japanese tractor maker Kubota to acquire Norwegian peer Kverneland (notified Jan. 30/deadline March 5/simplified)

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)

JUNE 4

-- 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)

UNKNOWN DEADLINE

-- Luxembourg-based chemicals distributor Ravago and Dutch peer Barentz Europe to set up a joint venture (notified Jan. 19/deadline Feb. 23/simplified/notification declared incomplete Jan. 26)

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)

Related Quotes and News

Company
Price
Related News
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.