EU mergers and takeovers (Sept 11)

BRUSSELS, Sept 11 Wed Sep 11, 2013 1:10pm EDT

BRUSSELS, Sept 11 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Private equity firm Platinum Equity LLC to buy outdoor advertising services provider CBS Outdoor (approved Sept. 10)

-- U.S. bank JP Morgan Chase & Co to acquire indirect majority stake in British frozen food manufacturer Findus Group Limited (approved Sept. 10)

NEW LISTINGS

-- French bank BNP Paribas Fortis and Belgian telecoms operator Belgacom to set up a joint venture for a Belgian mobile wallet (notified Sept. 6/deadline Oct. 11)

EXTENSIONS AND OTHER CHANGES

-- Norwegian fish farmer Marine Harvest to increase its stake in Norwegian salmon farmer Morpol ASA (notified Aug. 9/deadline extended to Sept. 30 from Sept. 16 after Marine Harvest offered concessions)

FIRST-STAGE REVIEWS BY DEADLINE

SEPT 19

-- Russia's United Petrochemical Company and Mexican holding company Grupo Petrotemex S.A. to form a joint venture (notified Aug. 14/deadline Sept. 19/simplified)

SEPT 20

-- French rail company SNCF to buy a stake in rail freight transport company CRT, which is a subsidiary of French holding company Comsa-EMTE CRT (notified Aug. 16/deadline Sept. 20/simplified)

-- Soft drinks manufacturer Refresco Group to acquire rival Pride Foods (notified Aug. 16/deadline Sept. 20)

-- British mobile telecoms provider Vodafone to buy German cable company Kabel Deutschland (notified Aug. 16/deadline Sept. 20)

SEPT 23

-- Private equity firm Bregal to buy boiler maker ISG (notified Aug. 19/deadline Sept. 23/simplified)

-- Nordic insurer IF P&C Holding Ltd to acquire sole control of Danish insurer Topdanmark (notified Aug. 19/deadline Sept. 23)

-- German tank storage provider Oiltanking, which is owned by German privately owned company Marquard & Bahls AG, and investment funds group Macquarie to set up a joint venture (notified Aug. 19/deadline Sept. 23/simplified)

SEPT 26

-- Argentine meat producer JBS SA to buy Brazilian poultry and pork producer Seara Brasil and leather products maker Columbus Netherlands B.V. (Zenda) from Marfrig Alimentos SA (notified Aug. 22/deadline Sept. 26/simplified)

SEPT 30

-- Japanese trading house Marubeni to acquire joint control of Portuguese energy producer National Power International Holdings B.V. (NPIH) from French energy group GDF Suez (notified Aug. 26/deadline Sept. 30/simplified)

-- Chinese telecoms equipment maker ZTE Services Deutschland GmbH to buy German Alcatel-Lucent Network Services from German telecom equipment maker Alcatel-Lucent Holding GmbH (notified Aug. 26/deadline Sept. 30/simplified)

OCT 2

-- Investment bank Goldman Sachs and private equity firm TPG LundyCo and British real estate investor Max Property Group Plc to acquire joint control of hospital leasor MPG Hospital Holdings Ltd (notified Aug. 28/deadline Oct. 2/simplified)

OCT 7

-- Private equity firms Bain Capital and Altor Fund III to acquire joint control of German fish feed producer Ewos, which is owned by Norwegian fish farmer Cermag ASA (notified Sept. 2/deadline Oct. 7)

OCT 8

-- Swiss cement maker Holcim to exchange some assets and combine others with Mexican peer Cemex (notified Sept. 3/deadline Oct. 8)

-- U.S. technology products distributor Arrow Electronics Inc to buy Computerlinks AG (notified Sept. 3/deadline Oct. 8/simplified)

OCT 9

-- Amvest Vastgoed B.V. to buy healthcare services provider DLH B.V. which is jointly controlled by DLH's management and a unit of Dutch private equity firm NPM Capital N.V. (notified Sept. 4/deadline Oct. 9/simplified)

-- Dutch steel product maker and machinery equipment distributor Koninklijke Reesink to buy Pon Holdings B.V.'s European material handling businesses (notified Sept. 4/deadline Oct. 9)

OCT 10

-- Spanish airports operator Aena and the private equity arm of French insurance group Axa to buy a stake in London's Luton airport from Spanish infrastructure company Abertis (notified Sept. 5/deadline Oct. 10)

OCT 16

-- Greek carrier Aegean Airlines to buy Olympic Air (notified Feb. 28/deadline extended for the second time to Oct. 16 from Sept. 25 after Aegean offered additional commitments)

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.