EU mergers and takeovers (Aug 5)
BRUSSELS Aug 5 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:
APPROVALS AND WITHDRAWALS
-- Spanish lender Banco Popular and Credit Mutuel to acquire joint control of an ATM business in Spain (notified Aug. 2/deadline Sept. 9/simplified)
-- U.S. electronic parts distributor Avnet Inc. to buy German peer MSC Investoren GmbH (notified Aug. 1/deadline Sept. 6)
EXTENSIONS AND OTHER CHANGES
FIRST-STAGE REVIEWS BY DEADLINE
-- Canada's Valeant Pharmaceuticals International to buy eye health products maker Bausch & Lomb Holdings Inc from private equity firm Warburg Pincus LLC (notified July 1/deadline Aug. 5)
-- US Airways Group and American Airlines to merge (notified June 18/deadline extended to Aug. 6 from July 23 after the airlines offered concessions)
-- Private equity firm Clayton, Dubilier & Rice LLC to acquire online used vehicle purchasing services company which owns car seller "We buy any car" (notified July 4/deadline Aug. 8)
-- Spanish telecoms provider Telefonica, Spanish lender Caixabank and Spain's Banco Santander to set up an advertising services joint venture (notified July 11/deadline Aug. 16)
-- French paper products company Antalis to acquire U.S. printer and copier company Xerox's western Europe paper distribution business (notified July 11/deadline Aug. 16)
-- Hong Kong-based Cheung Kong (Holdings) Ltd, Hutchison Whampao Ltd's Cheung Kong Infrastructure Holdings Ltd, Power Assets Holdings Ltd and Li Ka Shing Foundation Ltd to buy Dutch waste processing firm RAV Water Treatment I B.V. (notified July 12/deadline Aug. 19/simplified)
-- Private equity firm The Carlyle Group LP to buy packaging products supplier Chesapeake Holdings S.A.R.L. (notified July 16/deadline Aug. 21/simplified)
-- French insurer AXA's private equity arm and Chinese conglomerate Fosun International to buy travel services company Club Mediterranee (notified July19/deadline Aug. 26/simplified)
-- Private equity firm Triton to acquire Danish pipe maker Logstor (notified July 19/deadline Aug. 26)
-- Private equity group the Carlyle Group to buy German wood products manufacturer Klenk Holz AG (notified July 22/deadline Aug. 27/simplified)
-- U.S. private equity firms Warburg Pincus and General Atlantic to acquire joint control of Santander Asset Management from Spanish bank Santander (notified July 25/deadline Aug. 30/simplified)
-- French electrical and mechanical engineering company SPIE to buy German cement company Hochtief's facility and energy management business Hochtief Service Solutions (notified July 25/deadline Aug. 30/simplified)
-- Austrian agricultural and energy products supplier Raiffeisen Ware Austria AG (RWA) to acquire sole control of German fuel distributor Genol, which is jointly owned by RWA and OMV Refining & Marketing GmbH (notified July 25/deadline Aug. 30/simplified)
-- Private equity firm Towerbrook Investors to buy metal processing company Metallum Holding S.A. (notified July 25/deadline Aug. 30/simplified)
-- Private equity firm 3i Group to acquire sole control of Barclays Infrastructure Funds Management from British bank Barclays PLC (notified July 31/deadline Sept. 5/simplified)
-- Swedish refiner Nynas to purchase certain assets from Royal Dutch Shell's Harburg refinery (notified Feb. 19/deadline extended for the second time to Sept. 6 from Aug. 8)
-- Greek carrier Aegean Airlines to buy Olympic Air (notified Feb. 28/deadline extended for the third time to Sept. 25 from Sept. 3)
GUIDE TO EU MERGER PROCESS
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.
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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