June 7, 2018 / 2:04 PM / a year ago

EU mergers and takeovers (June 7)

BRUSSELS, June 7 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:


— U.S. real estate investment company Kennedy Wilson and French insurer Axa to set up a joint venture (approved June 6)

— Canadian private equity firm Onex and U.S. investment fund Vista to acquire joint control of software company Severin Topco (approved June 6)


— Copper company KME, which is part of Intek Group, to acquire German peer MKM Mansfelder Kupfer and Messing GmbH (notified June 4/deadline July 9)

— Chinese private equity firm China Jianyin Investment Limited and investment company Tamar Alliance Health Limited to jointly acquire Australian healthcare company Australia Nature’s Care Biotech (notified June 5/deadline July 10/simplified)


— Private equity firm Rhone Capital LLC and founders of swimming pool equipment maker Fluidra to acquire joint control of the merged Fluidra and its peer Zodiac Holdco (notified May 3/deadline extended to June 27 from June 13 after the companies offered concessions)



— Deutsche Telekom to acquire Swedish peer Tele2’s Dutch unit and merge it with its Dutch business T-Mobile Nederland (notified May 2/deadline June 12)


— Finnish utility Fortum to acquire a controlling stake in German peer Uniper from German energy company E.ON (notified May 7/deadline June 15)

— U.S. cable operator Comcast’s to acquire British pay-TV company Sky (notified May 7/deadline June 15)


— Japan’s Mitsubishi Corp and investment company Arjun Infrastructure Partners to acquire joint control of British services company South Staffordshire plc (notified May 14/deadline June 19/simplified)

— Oaktree Capital Group and Spanish real estate holding company Bitarte, which is a unit of Spanish bank Banco de Sabadell, to set up a joint venture (notified May 14/deadline June 19/simplified)


— Investment bank Goldman Sachs and private equity firm Antin Infrastructure Partners to jointly acquire British fibre network operator Cityfibre Infrastructure Holdings (notified May 15/deadline June 20/simplified)

— UK infrastructure management company AMP Capital and Spanish airport infrastructure management company Aena Internacional to jointly acquire Luton Airport (notified May 15/deadline June 20/simplified)


— Chinese car parts maker Beijing Automotive Group’s subsidiary BHAP and Spanish peer Gestamp Automocion to set up a joint venture (notified May 18/deadline June 25/simplified)

— U.S. private equity firms HPS Investment Partners and Madison Dearborn Partners to acquire joint control of UK risk management services provider Professional Fee Protection Ltd (notified May 18/deadline June 25/simplified)

— T-Mobile Austria, which is a unit of German telecoms company Deutsche Telekom, to acquire UPC Austria, which is a subsidiary of cable operator UPC (notified May 18/deadline June 25)


— U.S. asset manager Blackstone to acquire Spanish gaming company Cirsa (notified May 22/deadline June 26/simplified)

— German company BASF to acquire Belgian chemicals company Solvay’s worldwide polyamide business (notified May 22/deadline June 26)

— Austrian construction company Strabag and German peer Max Boegl International to set up a joint venture (notified May 22/deadline June 26/simplified)

— Private equity firm Permira to acquire tech software company Exclusive Group (notified May 22/deadline June 26/simplified)

— German companies Thyssen Alfa and Max Aicher Recycling to acquire joint control of Noris Metallrecycling (notified May 22/deadline June 26/simplified)


— Private equity firm Permira to acquire Cisco System’s video software unit (notified Nat 23/deadline June 27/simplified)

— U.S. chemicals company Lyondellbasell Industries to acquire U.S. peer A. Schulman (notified May 23/deadline June 27)

— German travel group TUI to acquire Spain’s Hotelbeds Group’s destinations services business (notified May 23/deadline June 27/simplified)


— French bank BNP Paribas to acquire ABN Amro Bank Luxembourg from Dutch bank ABN Amro (notified May 24/deadline June 28/simplified)

— Japanese trading company Sumitomo Corp and Sumitomo Mitsui Financial Group to acquire joint control of Sumitomo Mitsui Finance and Leasing Co (notified May 24/deadline June 28/simplified)


— Israeli drugmaker Teva to acquire sole control of part of U.S. consumer products maker Procter & Gamble’s OTC business in which it currently has a minority stake (notified May 25/deadline June 29)


— British bank HSBC and U.S. payment technology services provider Global Payments to set up a joint venture in Mexico (notified May 28/deadline July 2/simplified)


— French pension scheme and insurance services provider Malakoff Mederic and Finnish peer Ilmarinen to jointly acquire Luxembourg property developer Alto 1 S.a.r.l (notified May 30/deadline July 4/simplified)

— British drugmaker Phoenix Group to acquire Romanian pharmaceutical wholesaler Farmexim SA and Romanian pharmacy chain Help Net Farma (notified May 30/deadline July 4/simplified)

— U.S. private equity firm Francisco Partners to acquire payments technology company Verifone Systems (notified May 30/deadline July 4/simplified)


— U.S. private equity firms Baring Asia Private Equity Fund and PAI Europe VI Funds to acquire joint control of Luxembourg-based air cargo general sales and service agent WFC International (notified May 31/deadline July 5/simplified)


— Private equity firm Silver Lake to acquire British company ZPG, the owner of real estate website Zoopla (notified June 1/deadline July 6/simplified)

— Dutch offshore wind farm companies Otary, Eneco Wind Belgium and Belgian electricity utility Electrabel to set up a joint venture (notified June 1/deadline July 6)


— U.S. planemaker Boeing and French aerospace company Safran to set up a joint venture to make and service aircraft auxiliary power units (notified June 5/deadline July 10/simplified)


— South African chemicals company Tronox to acquire the titanium dioxide business of Cristal, a subsidiary of Saudi Arabia’s Tasnee (notified Nov. 15/deadline extended to JuLY 12 after the companies offered concessions)


— German industrial gases group Linde to merge with U.S. peer Praxair (notified Jan. 12/ deadline extended to Aug. 9)


— iPhone maker Apple to acquire UK music streaming service Shazam (notified March 14/deadline extended to Sept. 4 from April 23 after the European Commission opened an in-depth investigation)


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 Foo Yun Chee)

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