ETF News

EU mergers and takeovers (Feb 5)

BRUSSELS, Feb 5 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:


-- OMERS Infrastructure and French telecoms operator Altice France to acquire joint control of French fiber network business SFR FTTH (approved Feb. 1)

-- Japan’s JERA, Australia’s Macquarie, Orsted and Taiwanese Swancor to jointly control holding company Formosa 1 to develop and construct an offshore windfarm in Taiwan (approved Feb. 1)

-- Swedish shipping company Stena Rederi to create short-sea transport services joint venture with German logistics company Glovis Europe (approved Feb. 4)

-- IRCP and Diamond Transmission Corporation Ltd. to have joint control of joint venture Diamond Transmission Partners (approved Feb. 4)

-- Investment manager Infrared, Allianz and independent fund management company DIF to acquire joint control of holding company Daiwater Investment Ltd. (approved Feb. 4)


-- Global aerospace producer, designer and supplier TransDigm Group to acquire sole control over manufacturing company Esterline Technologies (notified Feb. 4/deadline March 11)

-- Energy producer and provider Total Holdings USA to acquire sole control over oil and natural gas production company Chevron Denmark (notified Feb. 1/deadline March 8)

-- Cayman Island-based private equity firm Clayton, Dubilier & Rice Fund X, L.P. to acquire sole control from investment vehicle Cheadle Developments Ltd. over Jersey-based FH Investments Ltd. through a share purchase (notified Jan. 31/deadline March 7/simplified)





-- French sea transportation company CMA CGM to acquire sole control over Swiss freight forwarding and logistics company CEVA (notified Dec. 21/deadline Feb. 6/simplified)


-- German copper products maker Wieland-Werke to acquire German copper smelter Aurubis’ flat rolled products unit Products Schwermetall (notified June 13/deadline Feb. 7)

FEB 11

-- French financial services group Societe Generale to acquire sole control of German peer Commerzbank’s equity markets and commodities business (notified Jan. 7/deadline Feb. 11)

-- Global packaging supplier Amcor to acquire U.S.-rival Bemis (notified Dec. 12/deadline Feb. 11/Amcor offered concessions on Feb. 21)

FEB 12

-- French airline Air France-KLM to acquire a stake and joint control with U.S. Delta Air Lines and Virgin Group of U.K.-based Virgin Atlantic Limited (notified Jan. 8/deadline Feb. 12)

FEB 13

-- Singapore’s Sivantos and Denmark’s Widex to create a hearing aid and hearing accessory manufacturing and supply joint venture (notified Jan. 9/deadline Feb. 13)

FEB 15

-- United Arab Emirates-based Mubadala Investment Company and Amerra Capital Management LLC to jointly acquire majority stakes in Greek fish farming companies Nireus and Selonda (notified Dec. 18/deadline extended to Feb. 15 from Feb. 1 after the companies offered concessions)

-- Ontario Teachers’ Pension Plan Board and Madison Dearborn Partners, LLC to acquire joint control of mobile-tracking technology firm Fleet Complete (notified Jan. 11/deadline Feb. 15/simplified)

-- Italy’s Societa Cattolica di Assicurazione – Societa cooperativa and France’s Inter Mutelles Assistance S.A. to acquire joint control over Italian non-life insurance and non-life reinsurance company IMA Italia Assistance S.p.A. and IMA Servizi S.c. a r.l. (notified Jan. 11/deadline Feb. 15/simplified

FEB 18

-- Siemens and Alstom to merge their railway operations (notified June 8/deadline extended to Feb. 18 from Jan. 28 after the companies offered concessions)

-- Korea’s climate control systems company Hanon to acquire part of Magna’s cooling and pump technology company Rotor (notified Jan. 14/deadline Feb. 18/simplified)

-- U.S.-established Ares Management Corp. and energy company Electricite de France SA to acquire joint control over a Duesseldorf office complex owned by an IKB AG subsidiary (notified Jan. 14/deadline Feb. 18/simplified)

-- Private equity firm Triton to acquire sole control of online tour operator Sunweb (notified Jan. 14/deadline Feb. 18/simplified)

FEB 19

-- Japanese technology group NEC to acquire sole control of Danish IT company KMD Holding (notified Jan. 15/deadline Feb. 19/simplified)

FEB 20

-- German brewers Radeberger and Veltins to set up a joint venture to distribute and sell their beers (notified Jan. 16/deadline Feb. 20/simplified)

-- Mitsubishi Heavy Industries and Danfoss to take joint control of Edinburgh-based hydraulics technology firm Artemis Intelligent Power (notified Jan. 16/deadline Feb. 20/simplified)

-- Japanese heating, ventilation and air conditioning manufacturer Daikin Europe to acquire sole control of plug-in display case manufacturer Cool International Holding (notified Jan. 16/deadline Feb. 20/simplified)

-- Brookfields Asset Management to acquire Johnson Controls’ power solutions business (notified Jan. 16/deadline Feb. 20/simplified)

FEB 21

-- Automotive parts manufacturer Financiere SNOP Dunois S.A. to acquire sole control of peer Tower Automotive Holdings Europe (notified Jan. 17/deadline Feb. 21/simplified)

-- Caise des Depots et Consignations and a unit of Swiss Life REIM to jointly buy a building in Bracon, France (notified Jan. 17/deadline Feb. 21/simplified)

-- A consortium led by China’s Anta Sports to acquire Finland’s Amer Sports (notified Jan. 17/deadline Feb. 21/simplified)

FEB 22

-- Swiss insurance company Swiss Life Holding and English private equity firm Montagu Private Equity to indirectly acquire joint control of a Munich office building through an asset deal (notified Jan. 18/deadline Feb. 22/simplified)

FEB 26

-- U.S. global investment firm KKR to acquire indirect joint control of Australia’s Genesis Care Pty Ltd. with Hong Kong holding company China Resources (notified Jan. 22/deadline Feb. 26/simplified)

-- German utility RWE to acquire networks and renewables unit Innogy with the assets to be divided between RWE and E.ON (notified Jan. 22/deadline Feb. 26)

-- IIF Int’l Holding to acquire joint control of gas infrastructive business North Sea Midstream Partners Ltd. (notified Jan. 22/deadline Feb. 26/simplified)

FEB 27

-- Agricultural commodities trader Archer Daniels Midlands to acquire UK grains supplier Gleadell Agriculture (notified Jan. 23/deadline Feb. 27/simplified)

FEB 28

-- France’s Engie and BPCE Group to acquire joint control of French power producer Engie PV Curbans (notified Jan. 24/deadline Feb. 28/simplified)

-- Energy investment holding company LetterOne Holdings and chemical sector stock corporation BASF to create joint venture combining oil and gas activities (notified Jan. 24/deadline Feb. 28)


-- Greencycle Holding and Germany’s cardboard producing group Nord-Westdeutsche Papierrohstoff to create online waste material trading platform joint venture (notified Jan. 25/deadline March 1/simplified)

-- U.S.-headquartered Blackstone Group to acquire indirect joint control by way of share acquisition with Ireland-based Sretaw over Irish waste, recycling and utilities company Beauparc (notified Jan. 25/deadline March 1/simplified)

-- Brussels Airport Company to acquire indirect joint control of Airhotel Belgium with Marriot (notified Jan. 25/deadline March 1/simplified)

-- French energy group Engie, French tyre maker Michelin, the Auvergne-Rhone-Alpes Region and French public sector lender Caisse des Depots et Consignations to set up a joint venture (notified Jan. 25/deadline March 1/simplified)


-- CVC Capital Partners to acquire sole control of insurer April Group (notified Jan. 28/deadline March 4/simplified)

-- Real estate investor Patron Fund and U.S. hotel chain Marriot to acquire joint control of Poland’s Sheraton Warsaw Hotel (notified Jan. 28/deadline March 4/simplified)


-- U.S. aircraft parts maker Spirit Aerosystems Holdings Inc to acquire EU-based supplier Asco Industries NV (notified Jan. 30/deadline March 6)


-- German energy company E.ON to acquire German peer Innogy’s retail and network activities (notified Jan. 31/deadline March 7)

-- U.S. telecoms equipment maker CommScope to acquire set-top box maker Arris International Plc (notified Jan. 31/deadline March 7/simplified)

-- Private equity firm The Carlyle Group to acquire aviation services company StandardAero from buyout firm Veritas Capital (notified Jan. 31/deadline March 7/simplified)


-- Steel company Aperam to acquire Netherlands producer of materials from nickel and nickel alloy VDM Metals Holding (notified Oct. 23/deadline extended to April 16 from Nov. 29 after the European Commission opened an in-depth investigation)


--- Germany’s Thyssenkrupp and India’s Tata Steel to set up a steel joint venture (notified Sept. 25/deadline April 29)


-- UK mobile telephony provider Vodafone to acquire U.S. Liberty Global’s telecommunications business in the Czech Republic, Germany, Hungary and Romania (notified Oct. 19/deadline Nov. 27/deadline extended to May 2 after the European Commission opened an in-depth investigation)


-- Electronic and motor manufacturing company Nidec to acquire sole control of U.S. white goods maker Whirlpool Corp’s compressor subsidiary Embraco (notified Oct. 8/deadline extended to May 3 from April 15)



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. (Reporting by Clare Roth;)