September 10, 2018 / 11:02 AM / 2 months ago

EU mergers and takeovers (Sept 10)

BRUSSELS, Sept 10 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

— French transport company Keolis and British infrastructure asset management company Amey to acquire joint control of British passenger rail services company W&B Rail Franchise (approved Sept. 10)

— Norwegian investment company Akastor, Japanese trading company Mitsui & Co and Japanese container shipping company Mitsui OSK Lines to acquire joint control of subsea oil and gas services company Akofs Offshore (approved Sept. 10)

NEW LISTINGS

— Business process services company Synnex Corp to buy call center operator Convergys Corp (notified Sept. 7/deadline Oct. 12/simplified)

— Buy-out firm Cinven, through its controlled portfolio company Viridium Holding, to acquire sole control of insurance company Generali Lebensversicherung (notified Sept. 7/deadline Oct. 12/simplified)

EXTENSIONS AND OTHER CHANGES

— German company BASF to acquire Belgian chemicals company Solvay’s worldwide polyamide business (notified May 22/deadline Dec. 18)

FIRST-STAGE REVIEWS BY DEADLINE

SEPT 19

— German carmaker Volkswagen’s Italian car dealer Eurocar to acquire Italian peer Vicentini (notified Aug. 14/deadline Sept. 19)

— Private equity firm KKR to acquire U.S. business software company BMC Software (notified Aug. 14/deadline Sept. 19/simplified)

— French carmaker PGA Motors and Fiber to acquire joint control of auto dealer and car parts distributor Bernard Participations (notified July 31/deadline extended to Sept. 19 from Sept. 5 after the French competition authority asked to take over the case)

SEPT 21

— U.S. pharmaceutical company Biogen and South Korean peer Samsung BioLogics to have joint control of South Korean drugmaker Samsung Bioepis to set up a joint venture (notified Aug. 17/deadline Sept. 21/simplified)

— Norwegian aluminium maker Norsk Hydro to acquire some of Anglo-Australian mining company Rio Tinto’s aluminium production assets (notified Aug. 17/deadline Sept. 21)

SEPT 24

— Private equity firm Advent International to acquire General Electric’s distributed power business (notified Aug. 20/deadline Sept. 24/simplified)

— French energy company Total to acquire gasd turbine power plant operators Pont Sur Sambre Power and Toul Power (notified Aug. 20/deadline Sept. 24/simplified)

— Real estate investment fund DV4, Dutch pension fund ABP and Canada’s Ontario Municipal Employees Retirement System Primary Pension Plan to set up a British property joint venture (notified Aug. 20/deadline Sept. 24/simplified)

SEPT 25

— German alphalt maker Deutsche Asphalt, which is a subsidiary of Austrian construction company Strabag, and German road construction company Bunte to set up a joint venture (notified Aug. 21/deadline Sept. 25/simplified)

SEPT 26

— U.S. private equity fund Charlesbank Partners Group to acquire joint control of contract food maker H-Food Holdings and the Hearthside group of companies (notified Aug. 22/deadline Sept. 26/simplified)

SEPT 27

— Kuwait’s sovereign wealth fund Kuwait Investment Authority to acquire oil and gas pipeline firm North Sea Midstream Partners from private equity firm ArcLight Capital (notified Aug. 23/deadline Sept. 27/simplified)

— U.S. planemaker Boeing and French aerospace company Safran to set up a joint venture to make and service aircraft auxiliary power units (notified Aug. 23/deadline Sept. 27)

SEPT 28

— Private equity firm KKR and French telecoms provider Altice to acquire joint control of Altice’s French subsidiary SFR Filiale (notified Aug. 24/deadline Sept. 28/simplified)

— U.S. management company Abry Partners to acquire Norwegian A2P messaging company Link Mobility ASA (notified Aug. 24/deadline Sept. 28/simplified)

OCT 1

— Canada’s Public Sector Pension Investment Board and Canadian institutional investor British Columbia Investment Management Corporation (BCI) to acquire joint control of Canadian forest product company Island Timberlands (notified Aug. 27/deadline Oct. 1/simplified)

— Private equity firm EQT Fund Management to acquire Luxembourg specialty chemicals and food ingredients distributor Azelis (notified Aug. 27/deadline Oct. 1/simplified)

OCT 3

— U.S. plane maker Boeing to acquire aerospace parts company KLX (notified Aug. 29/deadline Oct. 3)

— Goldman Sachs and Japanese financial services group Orix Corp to acquire shares in Japanese pharmaceutical company ILS Inc

OCT 4

— Private equity fund Lone Star to buy roof tiles business of France’s Imerys (notified Aug. 30/deadline Oct. 4/simplified)

— German project group Steag and German engineering company Siemens take joint control of power plan in Herne, western Germany (notified Aug. 30/deadline Oct. 4)

— Germany’s Vossloh and Austria’s Rhomberg Sersa Rail Holding form joint venture in railway technology (notified Aug. 30/deadline Oct. 4/simplified)

OCT 5

— Boeing and automotive seat maker Adient to form joint venture to make airline seats (notified Aug. 31/deadline Oct. 5)

— Japanese beverages and pharmaceutical group Kirin Holdings and Japanese trading house Mitsui to acquire joint control of nutritional supplements company Thorne Holding Corp (notified Aug. 31/deadline Oct. 5/simplified)

OCT 8

— Swedish mobile operato Tele2 to buy Swedish cable TV company Com Hem (notified Sept. 3/deadline Oct. 8)

— Chinese conglomerate CITIC Group to require a majority stake in Czech holding group European Bridge Travel, which controls travel services companies (notified Sept. 3/deadline Oct. 8/simplified)

OCT 9

— Alphabet’s Verily forms a joint venture with ResMed to study sleep apnea (notified Sept. 4/deadline Oct. 9/simplified)

— Canadian auto parts maker Magna to acquire Italian lighting products maker Olsa (notified Sept. 4/deadline Oct. 9/simplified)

OCT 11

— Private investment firm SK Capital Partners to buy U.S. specialty chemical company Schenectady International (notified Sept. 6/deadline Oct. 11)

OCT 12

— Business process services company Synnex Corp to buy call center operator Convergys Corp (notified Sept. 7/deadline Oct. 12/simplified)

— Buy-out firm Cinven, through its controlled portfolio company Viridium Holding, to acquire sole control of insurance company Generali Lebensversicherung (notified Sept. 7/deadline Oct. 12/simplified)

NOV 30

— Deutsche Telekom to acquire Swedish peer Tele2’s Dutch unit and merge it with its Dutch business T-Mobile Nederland (notified May 2/deadline Nov. 30 after deadline suspension ended Aug. 6)

DEC 13

— Copper company KME, which is part of Intek Group , to acquire German peer MKM Mansfelder Kupfer and Messing GmbH (notified June 4/deadline extended to Dec. 13 from Nov. 29 after the companies asked for more)

DEC 18

— German company BASF to acquire Belgian chemicals company Solvay’s worldwide polyamide business (notified May 22/deadline Dec. 18)

JAN 3

— German copper products maker Wieland-Werke to acquire German copper smelter Aurubis’ flat rolled products unit Products Schwermetall (notified June 13/deadline extended to Jan. 3 from Dec. 10 after the companies asked for more time)

JAN 8

— French aerospace and defence group Thales to acquire Franco-Dutch chipmaker Gemalto (notified June 18/deadline extended to Jan. 8 from Nov. 29 from July 23 after the companies asked for more time)

JAN 28

— Siemens and Alstom to merge their railway operations (notified June 8/deadline set at Jan. 28 on Sept. 7)

DEADLINES:

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.

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. (Reporting by Foo Yun Chee)

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