EU mergers and takeovers (Nov 8)

BRUSSELS Fri Nov 8, 2013 11:36am EST

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

APPROVALS AND WITHDRAWALS

-- Norwegian telecoms operator Telenor to take a stake in a venture owned by Norwegian publishing house Schibsted and Singapore Press Holdings, and also to set up a joint venture with Schibsted focusing on South American business (approved Nov. 8)

NEW LISTINGS

-- German insurer Allianz and Spain's Banco Popular Espanol to acquire joint control of joint venture AP Vida (notified Nov. 7/deadline Dec. 12/simplified)

-- Mitsubishi Heavy Industries and Hitachi Ltd to integrate their thermal power generation systems (notified Nov. 7/deadline Dec. 12/simplified)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

NOV 14

-- Japanese trading house Mitsui & Co, Iskandar Investment Berhad (IIB) which is majority owned by Malaysian state investor Khazanah Nasional Berhad, and investment company UWI Capital One to acquire joint control of Medini Iskandar Malaysia Sdn Bhd, which is now jointly controlled by IIB and UWI (notified Oct. 9/deadline Nov. 14/simplified)

NOV 18

-- U.S. asset management fund Ares Management LLC and Canada's Ontario Teachers Pension Plan Board to acquire joint control of U.S. building products company CPG International LLC, which is now solely controlled by Ares (notified Oct. 11/deadline Nov. 18/simplified)

-- Parkwind, which is an investment vehicle of Belgian supermarket chain Colruyt Group, and special purpose vehicle Summit Renewable Energy, which is owned by Japan's Sumitomo Corp, to acquire joint control of wind farm operator Belwind 1, which is now solely owned by Summit Renewable Energy (notified Oct. 11/deadline Nov. 18/simplified)

-- French luxury goods company LVMH to buy an 80 percent stake in Italian luxury cashmere clothing brand Loro Piana (notified Oct. 11/deadline Nov. 18/simplified)

NOV 21

-- Czech energy company EPH to acquire Slovakian power distributor Stredoslovenska Energetika (SSE) from French state-controlled utility EDF (notified Oct. 15/deadline Nov. 21)

NOV 25

-- Private equity investor 3i Group to acquire sole control of ferry operator Scandferries Holdings which is now jointly controlled by 3i and ACP Affiliates (notified Oct. 18/deadline Nov. 25/simplified)

NOV 26

-- U.S. maker of scientific and laboratory equipment Thermo Fisher Scientific to buy genetic testing equipment maker Life Technologies (notified Oct. 7/deadline extended to Nov. 26 from Nov. 12 after the companies submitted concessions)

-- U.S. bank Goldman Sachs to acquire sole control of British motor insurer Hastings Insurance Group (notified Oct. 21/deadline Nov. 26/simplified)

NOV 27

-- Japan's Suntory Beverage & Food Ltd to buy British drugmaker GlaxoSmithKline Plc's Lucozade and Ribena brands (notified Oct. 22/deadline Nov. 27)

NOV 29

-- French industrial group Schneider Electric to buy British engineer Invensys (notified Oct 24/deadline Nov. 29)

DEC 2

-- Private equity firm Apax Partners to acquire Italian motor cars trader RhiagInter Auto Parts Italia S.p.A (notified Oct. 25/deadline Dec. 2/simplified)

-- Private equity group Blackstone and investment bank Goldman Sachs to acquire joint control of British insurer Rothesay Life which is now solely owned by Goldman Sachs (notified Oct. 25/deadline Dec. 2)

DEC 3

-- British private equity firm EQT VI to buy Finnish healthcare services company Terveystalo Healthcare (notified Oct. 28/deadline Dec. 3)

-- Private equity investors Altor Funds and TryghedsGruppen to merge their Nordic fitness companies Elixia Holding III AS and Health & Fitness Nordic AB (notified Oct. 28/deadline Dec. 3)

DEC 4

-- Microsoft to acquire Nokia's phone business (notified Oct. 29/deadline Dec. 4)

-- Airport ground and cargo services handler Swissport, which is owned by private equity company PAI Partners, to acquire Servisair from French company Derichebourg SA (notified Oct. 29/deadline Dec. 4)

DEC 5

-- Russian gas company Gazprom and German energy company Wintershall Holding GmbH to swap certain gas production assets (notified Oct. 30/deadline Dec. 5)

-- Japanese parcel services provider Nippon Express Co Ltd to buy 67 percent of Panasonic Logistics which is owned by Japanese electronics group Panasonic Corp (notified oct. 30/deadline Dec. 5/simplified)

DEC 6

-- Spanish telecoms provider Telefonica to buy Dutch peer KPN's German unit (notified Oct. X/deadline Dec. 6)

-- French energy company GDF Suez to buy British industrial company Balfour Beatty plc's British facilities management unit (notified Oct. 31/deadline Dec. 6/simplified)

DEC 9

-- Fondo Strategico Italiano to acquire sole control of Ansaldo Energia from Finmeccanica S.p.A. and First Reserve Power Limited, a subsidiary of First Reserve Fund XII L.P. (notified Nov. 4/deadline Dec. 9/simplified)

-- Fishing product supplier Bolton Group BV to acquire joint control of two companies and integrate them with fish trader Tri Marine (notified Nov. 4/deadline Dec. 9)

-- Private equity firm the Triton group to acquire pneumatic produt maker Bosch Rexroth Pneumatics Holding (notified Nov. 4/deadline Dec. 9/simplified)

DEC 10

-- U.S. medical device maker Medtronic Inc and Russian asset management company the Renova Group to set up a joint venture (notified Nov. 5/deadline Dec. 10/simplified)

DEC 11

-- German refrigeration compressor maker Secop GmbH, owned by German private equity company Aurelius, to acquire Austrian industrial company ACC Austria GmbH (notified Nov. 6/deadline Dec. 11)

MARCH 10

-- Swiss cement maker Holcim to buy some of Mexican peer Cemex's assets in Germany (notified Sept. 3/dateline extended to March 10 from Oct. 22 after the Commission opened an in-depth investigation into the deal)

MARCH 21

-- Switzerland-based INEOS and Belgian chemicals company Solvay to form a joint venture (notified Sept. 16/deadline extended for the second time to March 21 from Nov. 5 after the European Commission opened an in-depth investigation)

MARCH 24

-- Hutchison 3G UK to acquire Telefonica Ireland, a unit of Spanish telecoms provider Telefonica (notified Oct. 1/deadline extended to March 24 from Nov. 6 after the European Commission opened an in-depth investigation)

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)

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