EU mergers and takeovers (March 31)
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:
-- British leisure travel company Thomas Cook Group (TCG.L), controlled by German retail and tourism group Arcandor AG (AROG.DE), to acquire British independent tour operator Gold Medal International (approved March 31)
-- British food retail group Associated British Foods Plc (ABF.L) to acquire Azucarera Ebro SL, the Spanish sugar arm of Ebro Puleva (EVA.MC) (approved March 31)
-- Greek diversified metals and engineering group Mytilineos Holding SA (MYTr.AT) and Motor Oil (Hellas) Corinth Refineries SA (MORr.AT), a refiner and retailer of petroleum products, take joint control of Corinthos Power SA, a Greek electricity generation joint venture (approved March 31)
NEW LISTINGS: None
EXTENSIONS AND OTHER CHANGES:
None
FIRST-STAGE REVIEWS BY DEADLINE:
APRIL 2
-- Funds of two private equity groups, IPC Fund and Oaktree Funds, to acquire joint indirect control of substantially all U.S. operating assets of U.S. Chesapeake Corp (CSKEQ.PK) and its U.S. subsidiaries and Chesapeake's shares in Chesapeake Asia Pacific Ltd and Chesapeake UK Holdings Ltd (notified Feb. 26/deadline April 2/simplified)
APRIL 7
-- Jersey-based private equity fund Altor Fund III to acquire Swedish banking and securities firm Carnegie Investment Bank AB and Swedish pension insurance and funds firm Max Matthiessen Holding AB (notified March 3/deadline April 7/simplified)
APRIL 17
-- Italian electricity supplier Enel (ENEI.MI) plans to acquire sole control of Spanish peer Endesa (ELE.MC) (notified March 10/deadline April 17/simplified)
APRIL 20
-- Spanish insurance group Mapfre (MAP.MC) and Portuguese car retailing group Salvador Caetano acquire joint control of Portuguese car retailer Choice Car, Portuguese fleet management company Finlog, Portuguese car rental company Guerin and Portuguese car accident services management firm Luso, currently owned by Salvador Caetano (notified March 11/deadline April 20)
APRIL 21
-- Brazilian diversified conglomerate Votorantim Group (VCPA4.SA)VCP.N to take sole control of Brazilian paper and pulp company Aracruz Celulose SA ARCZ6.SAARA.N, currently controlled jointly by Votorantim, Arapar and Arainvest (notified March 12/deadline April 21)
-- Swedish postal services firm Posten, controlled by the Kingdom of Sweden, enters into a full merger with Danish peer Post Danmark, controlled by the Kingdom of Denmark, by way of a share swap (notified Feb. 26/deadline April 2/extended on March 27/new deadline April 21)
APRIL 23
-- Austrian mortgage lender RBSK Group, through its subsidiary Raiffeisen Bausparkasse GmbH [RBGES.UL]; German banking and insurance firm DZ Bank (DGBGg.F), through its Bausparkasse Schwaebisch Hall AG arm; and Raiffeisen Bank SA of Romania, a subsidiary of Austrian investment and commercial bank RZB (RIBH.VI), to take joint control of Romanian mortgage lender Raiffeisen Banca pentru Locuinte SA (notified March 16/deadline April 23/simplified)
APRIL 30
-- U.S. automaker General Motors GM.N to acquire the steering business of Delphi Corp, a maker of steering and other automotive components (notified March 23/deadline April 30)
SECOND-STAGE REVIEWS BY DEADLINE
JUNE 10
-- German airline Lufthansa AG (LHAG.DE) to acquire Belgian air transport company SN Airholding SA/NV, which controls Brussels Airlines (notified Nov. 26/deadline Jan. 12/extended on Jan. 6/new deadline Jan. 26/in-depth probe opened Jan. 27/deadline June 10)
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 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.










