EU mergers and takeovers (March 31)

BRUSSELS, March 31 Mon Mar 31, 2014 12:35pm EDT

BRUSSELS, March 31 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Israeli conglomerate Ben-Moshe Group and Dolphin Fund to acquire Israel group IDB Development Corp Ltd (approved March 31)

-- Dutch company Varo Energy, which is controlled by the Carlyle Group, to acquire assets from Austrian oil group OMV (approved March 31)

NEW LISTINGS

-- Chinese PC maker Lenovo to International Business Machine Corp's low-end server business (notified March 28/deadline May 8/simplified)

-- Brookfield Infrastructure Fund to buy joint control of U.S. container terminal operator APM Terminals North America Inc which is now solely owned by New York port operator APM Terminals Elizabeth LLC (notified March 27/deadline May 7/simplified)

EXTENSIONS AND OTHER CHANGES

-- U.S. chemical maker Huntsman Corp to acquire U.S. peer Rockwood Holdings's titanium dioxide pigments business (notified Jan. 29/deadline Aug. 20/commitments submitted on March 28)

-- Mexican cement producer Cemex to acquire Swiss peer Holcim's Spanish cement business (notified Feb. 28/deadline extended to April 23 from April 4 after Cemex submitted concessions)

FIRST-STAGE REVIEWS BY DEADLINE

APRIL 8

-- U.S. media company Discovery Communications to acquire a controlling interest in European sports broadcaster Eurosport International from French media group TF1 (notified March 4/deadline April 8)

APRIL 10

-- Japanese chemicals producer Kuraray to buy U.S. peer DuPont's glass laminating solutions business (notified March 6/deadline April 10)

-- Sale by Britain's Royal Bank of Scotland of some structured retail investor products and equity derivatives businesses to France's BNP Paribas (notified March 6/deadline April 10)

APRIL 11

-- Carlyle Group to buy Illinois Tool Works Inc's industrial packaging unit for $3.2 billion (notified March 7/deadline April 11/simplified)

APRIL 15

-- Deutsche Telekom to acquire control of GTS Central Europe from a consortium of international private equity firms (notified March 11/deadline April 15)

APRIL 22

-- Australian investment fund AMP Capital Investors Ltd to acquire joint control of Luxembourg-based train leasing company Alpha Trains (Luxembourg) Holdings Sari (notified March 13/deadline April 22/simplified)

APRIL 23

-- U.S. cable company Liberty Global to acquire Dutch peer Ziggo (notified March 4/deadline April 23)

APRIL 24

-- British engineering group John Wood and German peer Siemens to form a joint venture (notified March 17/deadline April 24)

-- Japanese spirits maker Suntory Holdings Ltd to buy U.S. spirits company Beam Inc (notified March 17/deadline April 24)

APRIL 25

-- Sweden's Volvo Construction Eequipment Aktiebolag to buy truck maker Terex Equipment Ltd (notified March 18/deadline April 25)

APRIL 29

-- Private equity firm Silver Lake to acquire U.S. talent agencies William Morris Endeavour Entertainment LLC and IMG Worldwide Holdings Inc (notified March 20/deadline April 29/simplified)

-- Private equity funds Bain Capital and Anchorage Capital to jointly acquire bathroom products maker Ideal Standard, which is now solely controlled by Bain Capital (notified March 20/deadline April 29/simplified)

-- British oil company DCC Energy to acquire Swedish motor fuels distributors Qstar Forsaljning, Qstar AB and Swedish payment cards software maker Card Network Solutions Europe AB (notified March 20/deadline April 29)

APRIL 30

-- British insurer Rothesay Life to buy Metlife Assurance (notified March 21/deadline April 30)

MAY 2

-- Swiss cement maker Holcim to buy some of Mexican peer Cemex's assets in Europe . (notified Sept. 3/deadline extended for the second time to May 2 from March 31)

MAY 5

-- Swiss-based chemicals company Ineos to buy South African petrochemicals group Sasol Ltd's German solvent business (notified March 25/deadline May 5)

MAY 14

-- Spanish telecoms provider Telefonica to buy Dutch peer KPN's German unit (notified Oct. 31/Commission opened in-depth probe on Dec. 20, new deadline May 14)

MAY 16

-- Switzerland-based INEOS and Belgian chemicals company Solvay to form a joint venture (notified Sept. 16/deadline extended to May 16 after additional concessions offered)

MAY 19

-- Hutchison 3G UK to acquire Telefonica Ireland, a unit of Spanish telecoms provider Telefonica (notified Oct. 1/deadline extended for the second time to May 19 from April 24 after Hutchison offered concessions)

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.