EU mergers and takeovers (Nov 22)

BRUSSELS Thu Nov 22, 2012 12:00pm EST

BRUSSELS Nov 22 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Commodities trader Glencore to acquire miner Xstrata (approved Nov. 22)

-- U.S. conglomerate Koch Industries to buy 44 percent of U.S. glass products manufacturer Guardian Industries Corp (approved Nov. 21)

NEW LISTINGS

-- Private equity firm Bain Capital Investors to buy tool maker Apex Tool Group, which is owned by Aegean Partners, which in turn is controlled by Danaher Corp and Cooper Industries (notified Nov. 19/deadline Jan. 3/simplified)

-- German meat producer FIRoWa Handels GmbH and peer OSI Europe Foodworks to set up a joint venture (notified Nov. 16/deadline Dec. 21/simplified)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

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)

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)

-- 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

-- French rail company SNCF Participations and Dutch company Strukton Rail BV to acquire joint control of Dutch holding company Europool BV (notified Oct. 31/deadline Dec. 7/simplified)

-- 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 13

-- 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)

DEC 14

-- British bank Barclays and Goldman Sachs to acquire joint control of gardening and pet care product distributor Gardman Holdings Ltd (notified Nov. 9/deadline Dec. 14/simplified)

-- Private investment fund American Securities LLC to buy car parts maker Metaldyne (notified Nov. 9/deadline Dec. 14/simplified)

DEC 17

-- Qatar Holdings, the finance arm of Qatar's sovereign wealth fund, to acquire part of a stake held by Spanish infrastructure company Ferrovial in British airport operator BAA Ltd (notified Nov. 12/deadline Dec. 17)

-- Chinese state-owned oil company CNOOC Ltd to acquire Canadian upstream oil and gas company Nexen (notified Nov. 12/deadline Dec. 17/simplified)

DEC 18

-- French outdoor advertising specialist JCDecaux to acquire a stake in Dutch outdoor advertising company Russ Out Of Home which is active in Russia (notified Nov. 13/deadline Dec. 18/simplified)

DEC 19

-- Canadian private equity company Onex Corp to buy German plastics machinery maker KraussMaffei AG (notified Nov. 14/deadline Dec. 19)

-- German agricultural cooperative Baywa to buy Dutch grains trader Cefetra (notified Nov. 14/deadline Dec. 19)

-- U.S.-based casting products maker Precision Castparts Corp to buy U.S. maker of alloys for jet engines Titanium Metals (notified Nov. 14/deadline Dec. 19)

DEC 20

-- Private equity firm Bridgepoint Advisers Group and the Canada Pension Plan Investment Board to aquire joint control of sports management company Dorna (notified Nov. 15/deadline Dec. 20/simplified)

DEC 21

-- Investment bank Goldman Sachs and private equity firm KKR to acquire joint control of hotel operator QMH (notified Nov. 16/deadline Dec. 21)

-- Walt Disney Co to buy Lucasfilm (notified Nov. 16/deadline Dec. 21)

-- Czech energy group EPH to acquire Slovak gas transport and distribution company SPP from French energy company Gaz de France and Germany's E.ON (notified Nov. 16/deadline Dec. 21/simplified)

-- Mittal Investments, which is owned by Indian steel tycoon Lakshmi Mittal, to buy French cement maker Lafarge and miner Anglo American's British assets (notified Nov. 16/deadline Dec. 21/simplified)

-- U.S. communications company Syniverse Technologies to buy Luxembourg-based communications services company Mach (notified Nov. 16/deadline Dec. 21)

-- Swiss speciality chemicals maker Clariant and Singaporean palm oil company Wilmar to set up a joint venture (notified Nov. 16/deadline Dec. 21/simplified)

-- 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.

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