April 24, 2019 / 10:50 AM / 2 months ago

EU mergers and takeovers (April 24)

BRUSSELS, April 24 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

— U.S. plastics maker Berry Global Group to acquire British packager RPC (notified March 27/deadline May 7/simplified)

NEW LISTINGS

None

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

MAY 8

— Private equity firm OEP Capital Advisors to acquire powertrain product maker Walterscheid Powertrain <WP Group) (notified March 28/deadline May 8/simplified)

MAY 10

— Swedish telecoms provider Telia Company to acquire Bonnier Broadcasting which includes brands such as Swedish TV4 and streaming service C More and Finnish MTV (notified March 15/deadline extended to May 10 from April 24 after Telia offered concessions)

— British private equity company 3i Group, TIIC 2 and Aberdeen Infrastructure to acquire joint control over DirectRoute Holdings in relation to the acquisition of an interest in a concession for the operation and maintenance of the M8 Rathcormac/Femoy Bypass toll road in Ireland (notified March 29/deadline May 10/simplified)

— Agos Ducato, an Italian consumer credit joint venture between France’s CA Consumer Finance and Italian bank Banco BPM, to accquire the entire share capital of Italy’s ProFamily from Banco BPM )notified March 29/deadline May 10/simplified)

— Swiss insurer Swiss Life and British private equity firm Montagu to jointly acquire German property developer Pondus (notified March 29/deadline May 10/simplified)

MAY 13

— Polish investment company Polski Fundusz Rozwoju (PFR), Singapore shipping terminal operator PSA and Australian investment manager IFM Investors to acquire joint indirect control of quay operator DCT Gdansk and its parent company Gdansk Port Holdings which is owned by Australian fund Macquarie (notified April 1/deadline May 13/simplified)

- Iconex to acquire sole control over R+S Group and Hansol Denmark and its subsidiary Schades Group (notified April 1/deadline May 13)

— Investcorp Investment Holdings and Aberdeen Asset Management plc to set up a joint venture (notified April 1/deadline May 13/simplified)

— British car parts distributor Alliance Automotive Group, which is a unit of U.S. car parts distributor Genuine Parts Company, to acquire Dutch peer PartsPoint Group (notified April 1/deadline May 13/simplified)

MAY 17

— Swedish packager BillerudKorsnas and plastic packager Alpla Holding to jointly acquire Ecoxpac which develops pulp solutions for packaging purposes (notification April 5/deadline May 17/simplified)

— Saudi Arabian oil producer Saudi Aramco and French energy major Total to jointly acquire Saudi Arabian retail service station operator Tasheelat Marketing Company and fuel tanker fleet operator Sahl Transportation Company (notified April 15/deadline May 17/simplified)

MAY 20

— 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 20 from May 13)

— PSA Baltics, PFR Porty and Global InfraCo to acquire joint indirect control of DCT Gdansk S.A.’s parent company Gdansk Port Holdings (notified April 1/deadline May 13/simplified)

— Car parts distributor Alliance Automotive Group to acquire sole control over aftermarket vehicle parts distributor PartsPoint Group (notified April 1/deadline May 13/simplified)

— Investcorp Investment Holdings and Aberdeen Asset Management to create investment advisory services joint venture (notified April 1/deadline May 13/simplified)

MAY 21

— Czech energy company EPH to indirectly acquire sole control over energy company Uniper France through a purchase of shares(notified April 9/deadline May 21/simplified)

— Abu Dhabi’s government investor ADIA and Triton Fund V to acquire joint control over food transportation packager IFCO group (notified April 9/deadline May 21/simplified)

— Bregal Unternehmenkapital to acquire sole control over MEDIA Central (notified April 9/deadline May 21/simplified)

— Fund management company DIF Infrastructure, green infrastructure investor Green Investment Group (GIG) and waste-to-energy infrastructure company Covanta Holding Corp to jointly acquire Covanta Europe Assets Ltd and the Dublin Waste-to-Energy facility which is jointly controlled by Covanta and GIG (notified April 9/deadline May 21/simplified)

MAY 22

— Italian pipe maker Tenaris <TENR.MI > and Russian steel producer Severstal to set up a joint venture (notified April 10/deadline May 22/simplified)

— Australian bank Macquarie, China Investment Corp, German insurer Allianz, UK fund manager Dalmore and UK infrastructure investment company International Public Partnership to jointly acquire British grid operator National Grid’s gas distribution business (notified April 10/deadline May 22/simplified)

MAY 23

— Dutch infrastructure investor Omers Infrastructure and U.S. bank Morgan Stanley to jointly acquire German logistics company VTG (notified April 11/deadline May 23/simplified)

— Private equity firm Equistone to acquire British catering services provider CH&Co (notified April 11/deadline May 23/simplified)

— Multinational protein company Tyson Foods to acquire sole control over Brazilian food company BRF S.A.’s European and Thai businesses through a purchase of shares (notified April 11/deadline May 23/simplified)

MAY 27

— Private equity firms Hellman & Friedman and The Blackstone Group to acquire indirect joint control over German auto and property website Scout24 (notified April 15/deadline May 27/simplified)

— First State Investments International, which is owned by Commonwealth Bank of Australia’s asset management unit Colonial First State Global Asset Management, to acquire a controlling stake in Italian gas company OLT Offshore LNG Toscana from Uniper Global Commodities (notified April 15/dealine May 27/simplified)

MAY 28

— Private equity firm TDR Capital LLP to acquire sole control over Germany’s discount retailer NKD Group (notified April 16/deadline May 28/simplified)

MAY 29

— Belgium’s SFPI-FPIM and Monaco Resources Group, acting via its subsidiary R-Logitech S.A., Participatie Maatschappij, to acquire joint control over Luxembourg’s Euroports Holdings (notified April 17/deadline May 29/simplified)

JUNE 5

— Germany’s Thyssenkrupp and India’s Tata Steel to set up a steel joint venture (notified Sept. 25/deadline extended to June 5 from May 13 after offering concessions)

JUNE 18

— 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 extended to June 18 from June 3)

AUG 13

— German energy company E.ON to acquire German peer Innogy’s retail and network activities (notified Jan. 31/deadline Aug. 13)

SEPT 6

— U.S. aluminum company Novelis, which is a unit of India’s Hindalco Industries Ltd, to acquire aluminum processor Aleris (notified Feb. 18/deadline extended to Sept. 6 from Aug. 8)

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 Clare Roth)

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