Read
- IRS official refuses to answer questions at scandal hearing
|
- Global stocks, oil fall after Bernanke; dollar gains
|
- Oklahoma tornado victims astounded at how they survived
|
- CORRECTED-White House threatens veto of bill to bypass Obama on Keystone
- British soldier hacked to death in suspected Islamist attack
Sponsored Links
EU mergers and takeovers (Nov 12)
BRUSSELS |
BRUSSELS Nov 12 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:
APPROVALS AND WITHDRAWALS
-- Swiss insurer Helvetia Insurance approved to acquire French insurer Groupama's French shipping insurance portfolio (notified Oct. 4/deadline Nov. 12)
-- Private equity firms First Reserve Management and SK Capital Partners approved to acquire indirect joint control of petrochemical product maker TPC (notified Oct. 8/deadline Nov. 14/simplified)
-- U.S. consumer products maker Procter & Gamble and Israeli drugmaker Teva approved to set up a joint venture (notified Oct. 9/deadline Nov. 15)
NEW LISTINGS
-- Danish marine fuel supplier O.W. Bunker to acquire Norwegian fuel trader Bergen Bunkers and its subsidiary Bergen Bunkers Neva LCC from current owner M7 Bunkers (notified Nov. 8/deadline Dec. 13)
EXTENSIONS AND OTHER CHANGES
None
FIRST-STAGE REVIEWS BY DEADLINE
NOV 12
-- General Electric and consulting and outsourcing group Accenture to acquire indirect joint control of a newly set up U.S. joint venture (notified Oct. 4/deadline Nov. 12/simplified)
NOV 13
-- Japanese conglomerate Toyota Tsusho Corp to acquire distributor CFAO (notified Oct. 5/deadline Nov. 13/simplified)
NOV 20
-- U.S. appliance maker Whirlpool to acquire more shares in German kitchen manufacturer Alno (notified Oct. 12/deadline Nov. 20)
NOV 22
-- Commodities trader Glencore to acquire miner Xstrata (notified Oct. 2/deadline extended to Nov. 22 from Nov. 8 after Glencore offered commitments)
-- Private equity firm Advent to acquire German consumer goods retailer Douglas Holding (notified Oct. 16/deadline Nov. 22/simplified)
-- Chinese refiner Sinopec Corp to set up a joint venture with Canadian oil and gas exploration company Talisman Energy Inc (notified Oct. 16/deadline Nov. 22/simplified)
NOV 23
-- U.S. industrial manufacturer Eaton Corp to acquire U.S. electrical equipment maker Cooper Industries Plc (notified Oct. 17/deadline Nov. 23)
NOV 27
-- Swedish packaging companies Kinnevik and Billerud to merge (notified Oct. 5/deadline extended to Nov. 27 from Nov. 13 after Kinnevik submitted commitments)
-- French rail company SNCF, and Austrian investment companies Haselsteiner Familien-Privatstiftung and Augusta Holding to acquire joint control of Austria's Rail Holding which manages Austrian rail transport company WESTbahn Management GmbH(notified Oct. 19/deadline Nov. 27/simplified)
NOV 29
-- Private equity firm PAI Partners to buy Italian eyewear maker Marcolin (notified Oct. 23/deadline Nov. 29/simplified)
-- Canadian auto parts maker Magna International Inc to purchase German car hydraulic pump manufacturer Ixetic Verwaltungs GmbH (notified Oct. 23/deadline Nov. 29)
-- U.S. conglomerate Koch Industries to buy 44 percent of U.S. glass products manufacturer Guardian Industries Corp (notified Oct. 23/deadline Nov. 29/simplified)
-- Dutch bank ABN AMRO, Dutch investment firm Rabo Investments and holding company Vecelia Investments B.V. to acquire joint control of clothing wholesaler HVEG Investments B.V. (notified Oct. 23/deadline Nov. 29)
NOV 30
-- German retail and travel group Rewe Touristik GmbH to buy Czech tour operator Exim Holding SA (notified Oct. 24/deadline Nov. 30)
-- Private equity fund LBO France Gestion SAS to acquire ground handling services company AviaPartner (notified Oct. 24/deadline Nov. 30)
DEC 7
-- Finnish paper firm Ahlstrom to combine its label and processing business unit with Swedish peer Munksjo, which is partly owned by investment fund EQT (notified Oct. 31/deadline Dec. 7)
DEC 10
-- Private equity firm Advent International to buy technology services provider KMD Equity Holding (notified Nov. 5/deadline Dec. 10/simplified)
-- Private equity fund Trilantic Capital Partners and International Cable Holdings, which is owned by private equity firm Investindustrial, to acquire a 48 percent stake in Spanish telecoms operator Euskaltel, which is owned by Spanish savings bank Kutxabank (notified Nov. 5/deadline Dec. 10/simplified)
DEC 11
-- Finnish steelmaker Rautaruukki and private equity firm CapMan to set up a joint venture (notified Nov. 6/deadline Dec. 11)
-- Private equity firm CVC Capital Partners to buy a majority stake in insurance claims management company Cunningham Lindsey Group (notified Nov. 6/deadline Dec. 11)
-- Private equity firm LBO France Gestion to acquire indirect control of Blue Holding Luxembourg which is the holding company of printing solutions provide Euro Druckservice Group (notified Nov. 6/deadline Dec. 11/simplified)
DEC 12
-- French conglomerate Bollore to increase its stake in French advertising company Havas (notified Nov. 7/deadline Dec. 12/simplified)
-- A group of investors led by private equity firm Bain Capital to buy Spanish outsourcing services company Attento from Spanish telecoms operator Telefonica (notified Oct. 29/deadline Dec. 12/simplified)
DEC 21
-- Hong Kong's Hutchison 3G, which is part of Hutchison Whampoa, to acquire telecoms operator Orange Austria from France Telecom (notified May 7/deadline extended for the fourth time to Dec. 21 from Nov. 30 Hutchison 3G offers additional concessions)
JAN 15
-- U.S. mail delivery company United Parcel Service Inc to acquire Dutch peer TNT Express (notified June 15/deadline extended for the fourth time to Jan. 15 from Dec. 20 after the European Commission asked for more time)
FEB 6
-- Ryanair to acquire Aer Lingus (notified July 24/deadline extended for the second time to Feb. 6 from Jan. 14)
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.
- Tweet this
- Link this
- Share this
- Digg this
- Reprints


Follow Reuters