January 8, 2016 / 11:25 AM / 2 years ago

EU mergers and takeovers (Jan 8)

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

APPROVALS AND WITHDRAWALS

-- U.S. packages delivery company FedEx to acquire Dutch peer TNT (approved Jan.8)

NEW LISTINGS

-- Dental supply maker DENTSPLY to acquire control of the whole of Sirona Dental Systems (notified Jan.7/deadline Feb.11)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

JAN 11

-- Italian state-owned investment fund Fondon Strategico Italiano to acquire a stake in Italian oil contractor Saipem from state-controlled oil company Eni (notified Nov. 26/deadline Jan. 11/simplified)

-- Japan’s Sumitomo Corp and Sumitomo Mitsui Banking Corp acquire joint control of Indonesian companies PT Summit Oto Finance and PT Oto Multiartha, which are currently subsidiaries of Sumitomo Corp (notified Nov. 26/deadline Jan. 11/simplified)

-- Danish logistics group DSV A/S to acquire UTi Worldwide Inc, incorporated under laws of British Virgin Islands (notified Nov. 26/deadline Jan. 11/simplified)

JAN 12

-- Oilfield services provider Halliburton to buy rival Baker Hughes in a stock and cash transaction (notified Nov. 27/deadline Jan. 12)

-- Goldman Sachs and the Wellcome Trust plan to form a joint venture combining their student accommodation businesses in Britain (notified Nov. 27/deadline Jan. 12/simplified)

JAN 14

-- Private equity firms Triton and KKR to set up a joint venture of their respective chemical tanker businesses.(notified Dec. 1/deadline Jan. 14/simplified)

-- TDR Capital investment funds taking joint control of British fuel station operator Euro Garages (notified Dec. 1/deadline Jan. 14)

JAN 19

-- French IT services firm Atos to acquire communications firm Unify (notified Dec 4/deadline Jan. 19/simplified)

-- Saudi Aramco to acquire Lanxess’s 50 percent stake in the world’s largest synthetic rubber business (notified Dec 4/deadline Jan. 19/simplified)

-- Panalpina to acquire majority of shares in Airflo, an airfreight forwarder specialising in perishables.(notified Dec 4/deadline Jan. 19/simplified)

-- Spanish travel technology company Amadeus to acquire airline technology services Navitaire which is a subsidiary of Accenture Plc (notified Dec. 4/deadline Jan. 19)

-- German industrial products maker Freudenberg and Japanese chemical industry group Toray Industries to acquire join control of industrial material maker Japan Vilene Co (notified Dec. 4/deadline Jan. 19/simplified)

JAN 20

-- Creation of a joint venture between Lov Group Invest SAS and De Agostini for the production and distribution of content for television and multimedia platforms (notified Dec 7/deadline Jan. 20)

JAN 21

-- Lone Star Fund IX to acquire British fuel service station operator MRH Ltd (notified Dec. 8/deadline Jan. 21/simplified)

JAN 22

-- Investment bank Goldman Sachs and private equity firm Astorg Asset Management to jointly acquire French drugmaker HRA Pharma (IPO-LABOR.PA) (notified Dec. 9/deadline Jan. 22/simplified)

-- Japan’s Mitsubishi Heavy Industries to acquire Japanese forklift maker Unicarriers Holdings (notified Dec. 9/deadline Jan. 22/simplified)

-- U.S. drinks can maker Ball Corp to acquire British rival Rexam Plc (notified June 15/deadline extended for the third time to Jan 22 from Dec. 23 after companies submitted commitments)

JAN 25

-- German wind turbine maker Nordex to acquire Spanish firm Acciona’s wind power business (notified Dec. 10/deadline Jan. 25/simplified)

JAN 26

-- Belgian insurer Ageas to acquire French insurer Axa’s Portuguese operations (notified Dec. 11/deadline Jan. 26/simplified)

JAN 29

-- Steelmaker ArcelorMittal and a group made up of Banco Bilbao Vizcaya Argentaria, Banco de Sabadell , Banco Santander, Banco Popular Espanol , Bankia, Caixabank, Bankinter caja, Caja Rural de Navarra and Kutxabank to jointly acquire steel tube maker Grupo Condesa (notified Dec. 16/deadline Jan. 29)

FEB 1

-- Canadian fund CDPQ to acquire 30 percent stake in Bombardier’s rail transportation business for $1.5 billion (notified Dec. 17/deadline Feb. 1)

FEB 2

-- Investment fund CVC Capital Partners Ltd to buy 40 percent stake in motorway services provider Moto with UK private sector pension fund USS (notified Dec. 18/deadline Feb. 2/simplified)

-- Canada’s Alimentation Couche Tard to acquire Topaz Energy Group Limited (notified Dec. 18/deadline Feb. 2/simplified)

-- Spain’s Red Electrica Corporacion’s Chilean subsidiary and Engie to take joint control of TEN (notified Dec. 18/deadline Feb. 2/simplified)

-- Dutch provider of temporary employment services Randstad to acquire Sweden’s Proffice (notified Dec. 18/deadline Feb. 2/simplified)

FEB 4

-- U.S.-based Computer developer Western Digital to acquire outstanding shares of SanDisk, designer of data storage products. (notified on Dec. 22/deadline Feb. 4)

-- Mannai Corporation to buy majority stake in France-based provider of information technology Gfi Informatique from Apax Partners, LLP and Boussard & Gavaudan Holding Limited (notified on Dec. 22/deadline Feb. 4/simplified)

-- Formation of Chinese metal producing and distributing joint venture between Gonvarri Corporacion Financiera, part of Spain’s Acek Desarollo y Gestion Industrial, and Dongguan Summit Metal Products Co, part of a Japanese group headed by Sumitomo Corp (notified on Dec. 22/deadline Feb. 4/simplified)

FEB 5

-- Oilfield services company Schlumberger to buy equipment maker Cameron International (notified on Dec. 23/deadline Feb. 5)

FEB 8

-- Indian IT services company HCL Technologies to acquire Swedish automaker Volvo’s external IT business (notified on Jan. 4/deadline Feb. 8/simplified)

-- Pension funds USS Nero Limited of Britain, OPSEU Pension Plan Trust Fund of Canada and PGGM N.V. of the Netherlands to acquire Spanish infrastructure firm Global Vía Infraestructuras from Bankia and FCC (notified on Jan. 4/deadline Feb. 8)

FEB 9

-- La Compagnie des Cartes Carburant, majority owned by Edenred, to form joint venture in company fuel cards with Union Tank Eckstein, in which Edenred also has a stake (notified on Jan. 5/deadline Feb 9/simplified)

FEB 10

-- BP is reorganising its Ruhr Oel refining joint venture in Germany, under which it will get 100 percent of the Gelsenkirchen refinery (notified on Jan. 6/deadline Feb 10/simplified)

FEB 11

-- Dental supply maker DENTSPLY to acquire control of the whole of Sirona Dental Systems (notified Jan.7/deadline Feb.11)

MARCH 3

-- Cable telecoms company Liberty Global’s Belgian subsidiary Telenet to buy mobile network operator Base from Dutch group KPN (notified Aug. 17/deadline extended to March 17 from March 3)

MARCH 9

-- U.S. office supplier Staples to acquire U.S. rival Office Depot (notified Aug. 21/deadline extended for the third time to March 9 from March 2 after the companies asked for more time)

APRIL 22

-- Hutchison Whampoa to acquire Telefonica’s O2 UK subsidiary (notified Sept. 11/deadline extended for the fifth time to April 22 from April 18)

SUSPENDED

-- SOCAR, Azerbaijan’s state energy company, to buy stakes in Greek natural gas grid operator DESFA from Greek natural gas utility DEPA (notified Oct. 1/deadline suspended on Jan. 21)

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. (Compiled by Brussels newsroom)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below