5 Min Read
BRUSSELS, March 7 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:
-- Japanese chemicals producer Kuraray to buy U.S. peer DuPont's glass laminating solutions business (notified March 6/deadline April 10)
-- Israeli conglomerate Ben-Moshe Group and Dolphin Fund to acquire Israel group IDB Development Corp Ltd (notified March 5/deadline April 9/simplified)
-- Dutch company Varo Energy, which is controlled by the Carlyle Group, to acquire assets from Austrian oil group OMV (notified March 5/deadline April 9/simplified)
-- U.S. food packager Crown Holdings to buy Spanish food-can maker Mivisa Envases from investment funds the Blackstone Group, N+1 Mercapital and management (notified Jan. 24/deadline extended to March 14 from Feb. 28 after Crown Holdings offered concessions)
-- Ireland's Kendrick Investments Ltd to take sole control of Irish oil company Topaz Energy Group and Irish investment fund Resource Property Investment Fund Plc (notified Feb. 10/deadline March 17/simplified)
-- British pension fund Universities Superannuation Scheme Limited (USS) to acquire 49.9 percent of British air traffic controller The Airline Group Ltd whose shareholders are British Airways, Easyjet and Monarch Airlines (notified Feb. 11/deadliine March 18)
-- U.S. agriculture machinery maker Agco Corp and GAZ, which is a unit of Rusian car maker Basic Element, to set up a joint venture (notified Feb. 18/deadline March 25/simplified)
-- South Korean holding company Lotte to acquire joint control of coffee maker Nestle Korea from Switzerland's Nestle (notified Feb. 19/deadline March 26/simplified)
-- Switzerland-based INEOS and Belgian chemicals company Solvay to form a joint venture (notified Sept. 16/deadline extended for the third time to April 23 from March 21/additional concessions offered on Feb. 27)
-- French utility GDF Suez, Omnes Capital and Predica Prevoyance Dialogue du Credit Agricole to acquire joint control of Futures Energies Investissements Holdings which is now solely controlled by GDF Suez (notified Feb. 20/deadline March 27/simplified)
-- Infrastructure operator Global Via Infraestructuras, which is 50 percent owned by Spanish bank Bankia, and LBEIP, which is a subsidiary of British lender Lloyds Bank to acquire joint control of Spanish hospital operator OHL Phunciona (notified Feb. 20/deadline March 27/simplified)
-- 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)
-- Mexican cement producer Cemex to acquire Swiss peer Holcim's Spanish cement business (notified Feb. 28/deadline April 4)
-- U.S. investment firm The Gores Group to acquire British grocer Premier Foods' Hovis unit (notified March 3/deadline April 7/simplified)
-- 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)
-- 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)
-- 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)
-- U.S. chemical maker Huntsman Corp to acquire U.S. peer Rockwood Holdings's titanium dioxide pigments business (notified Jan. 29/deadline extended to July 22 from March 5 after the European Commission opened an in-depth probe)
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.