March 12, 2013 / 2:40 PM / in 4 years

EU mergers and takeovers (March 12)

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BRUSSELS, March 12 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

Approvals and Withdrawals

-- Japan's Mitsubishi Corp and Japanese management and technological support services company Innovation Network Corp to acquire joint control of Italian solar energy services company Solar Ventures, which is solely controlled by AME Ventures (approved March 12)

New Listings

-- U.S. oilfield equipment maker Cameron International Corp and U.S. oilfield services company Schlumberger to combine their subsea businesses (notified March 8/deadline April 17)

Extensions and Other Changes


First-Stage Reviews by Deadline

March 12

-- Investment bank Goldman Sachs and private investment firm TPG Lundy to acquire joint control of British publisher Romanes Media Group (notified Feb. 5/deadline March 12)

-- Investment bank Goldman Sachs and private investment firm TPG Lundy to acquire British print management services company Mavisbank (notified Feb. 5/deadline March 12)

March 13

-- German automotive company Daimler to acquire sole ownership of vehicle importer Mercedes-Benz Austria, Mercedes-Benz financial services Austria, and Mercedes-Benz Hungary. (notified Feb. 6/deadline March 13)

March 18

-- Enel to acquire 50 percent of Italian renewable energy producer Seci Energia (notified Feb. 11/deadline March 18/simplified)

March 20

-- Investment bank Goldman Sachs and private equity firm TPG Lundy to buy real estate developer Brookgate (notified Feb. 13/deadline March 20)

-- Investment bank Goldman Sachs and private equity firm TPG Lundy to buy British wind turbine parts maker Ainscough (notified Feb. 13/deadline March 20)

March 22

-- German oil and chemicals storage services provider Oiltanking GmbH and oil product trader Gunvor Group Ltd to set up a joint venture (notified Feb. 15/deadline March 22/simplified)

-- U.S. conglomerate Honeywell to acquire U.S. mobile computing device maker Intermec (notified Feb. 15/deadline March 22)

March 25

-- Investment bank Goldman Sachs and private equity firm TPG Lundy to acquire joint control of British electronics parts maker Exception Group Ltd which is controlled by British bank Lloyds (notified Feb. 18/deadline March 25)

March 26

-- Germany network grid operator TenneT Offshore and Japanese company Mitsubishi Corp to acquire joint control of German wind farm operator TenneT Offshore 8 (notified Feb. 19/deadline March 26/simplified)

-- Italian private equity fund Investindustrial to buy a 37.5 percent stake in British carmaker Aston Martin (notified Feb. 19/deadline March 26/simplified)

-- Swedish refiner Nynas to purchase certain assets from Royal Dutch Shell's Harburg refinery (notified Feb. 19/deadline March 26)

-- Dutch dairy company FrieslandCampina to buy Dutch cheese wholesalers Zijerveld & Veldhuyzen B.V. and Den Hollander B.V. (notified Feb. 19/deadline March 26)

-- Austrian insurer Uniqa and Dekra to acquire joint control of Hungarian motor insurer Dekra-Expert (notified Feb. 19/deadline March 26/simplified)

March 27

-- Japanese trading group Mitsubishi Corp and Japanese carmaker Isuzu Motors to acquire joint control of Isuzu Motors India Private Ltd (notified Feb. 20/deadline March 27/simplified)

April 4

-- Private equity funds Ratos and Ferd to acquire joint control of Norwegian oil platform construction company Aibel Group (notified Feb. 25/deadline April 4/simplified)

-- German carmaker Volkswagen to acquire joint control of car leasing company Ron Equipment Rental & Lease, which is a unit of car distributor Pon Holdings BV (notified Feb. 25/deadline April 4)

-- Spanish infrastructure group Ferrovial to buy British utility services company Enterprise Plc (notified Feb. 25/deadline April 4/simplified)

April 5

-- German media company Bertelsmann and Britain's Pearson to merge their publishers Random House and Penguin (notified Feb 26/deadline April 5)

April 8

-- Investment fund Oaktree to buy construction company Countryside (notified Feb. 27/deadline April 8)

April 9

-- Greek carrier Aegean Airlines to buy Olympic Air (notified Feb. 28/deadline April 9)

April 10

-- U.S. carmaker General Motors to acquire sole control of diesel engine maker Ispol, which is now jointly controlled by GM and Isuzu Motors (notified March 1/deadline April 10/simplified)

April 12

-- French energy network manager ERDF, which is a unit of French power company EDF, French state-owned bank Caisse des Depots et Consignations (CDS), and electricity company UEM to set up a software joint venture (March 5/April 12/simplified)

April 15

-- U.S. cable group Liberty Global to acquire British peer Virgin Media (notified March 6/deadline April 15)

April 16

-- U.S. conglomerate General Electric and German reinsurer Munich Re to acquire joint control of Spanish energy company Iberdrola's wind power operator Iberdrola Renovables France (notified March 7/deadline April 16/simplified)

May 16

Finnish paper producer Ahlstrom to merge with a unit of Swedish company Munksjo, which is partly owned by private equity fund EQT (notified Oct. 31/deadline May 16)

May 30

-- U.S. communications company Syniverse Technologies to buy Luxembourg-based communications services company Mach (notified Nov. 16/deadline extended for the second time to May 30 from May 15 after the companies asked for more time)

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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