February 6, 2018 / 5:54 PM / 4 months ago

EU mergers and takeovers (Feb 6)

BRUSSELS, Feb 6 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

— German engineering group Hochtief to take sole control of Spanish peer Abertis (approved Feb 6.)

— U.S. television network Discovery Communications to acquire U.S. peer Scripps Networks Interactive Inc (approved Feb. 6)

— Italian EDF unit Edison to buy Gas Natural’s unit Gas Natural Vendita Italia (approved Feb. 5)

— Units of Ivanhoe Cambridge and QuadReal Property to set up joint venture to invest in Indian real estate projects, particularly logistics parks (approved Feb. 5)

NEW LISTINGS

None

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

FEB 12

— Swiss logistics group Kuehne + Nagel to acquire sole control of the drinks distribution joint venture Kuehne + Nagel Drinkflow Logistics Holdings Limited (notified Jan. 8/deadline Feb. 12/simplified)

— Ireland’s Toohil Telecom to acquire Eircom Holdco SA from a group of investors. (notified Jan. 8/deadline Feb. 12/simplified)

FEB 13

— Private equity fund Nordic Capital VIII Limited to buy Alloheim Senioren-Residenzen Holding SE (notified Jan. 9/ deadline Feb. 13/ simplified)

FEB 14

— Car rental company Avis Budget Group and Turkey’s Koc Holding to acquire Avis’ Greek franchisee (notified Jan. 10/deadline Feb. 14/simplified)

FEB 16

— German industrial gases group Linde to merge with U.S. peer Praxair (notified Jan. 12/ deadline Feb. 16)

— Shipping terminal investment holding PSA International to transfer sole control over PSA Panama International Terminal to joint control by PSA International and Terminal Investment Limited (notified Jan. 12/ deadline Feb. 16/ simplified)

FEB 20

— Swiss Bell Food, part of Coop-Group, to buy all of Stoffel Holding AG and indirectly obtaint 50.22 pct of the capital and 65.01 pct of the voting right of food producer Huegli Holding (notified Jan. 16/ deadline Feb. 20/ simplified)

— Macquarie Super Core Infrastructure Fund and Allianz Infrastructure Luxembourg to jointly acquire Lakeside Network Investments, an investor in Finnish electricity and district heating networks (notified Jan. 16/ deadline Feb. 20/ simplified)

— Goldman Sachs and Riverstone Investment Group to jointly acquire Lucid Energy Group II, a provider of natural gas processing and gathering in the United States (notified Jan. 16/ deadline Feb. 20/ simplified)

FEB 21

— U.S. car parts supplier Key Safety Systems, which is a unit of China’s Ningbo Joyson Electronic Corp, to acquire Japanese car parts maker Takata Corp (notified Jan. 17/deadline Feb. 21)

FEB 22

— Czech energy utility EPH to acquire a stake in power plant Matrai Eromu (notified Jan. 18/deadline Feb. 22/simplified)

— Aerospace and defence group Northrop Grumman to buy launch vehicle maker Orbital ATK (notified Jan. 18/ deadline Feb. 22/ simplified)

— Spanish insurer Mapfre to promote renewal of guarantee insurance policies in Spain through a joint venture with France’s Euler Hermes (notified Jan. 18/ deadline Feb. 22/ simplified)

FEB 23

— Votorantim Geracao de Energia, which is a unit of Votorantimand Canada Pension Plan Investment Board, to acquire several windfarm companies (notified Jan. 19/deadline Feb. 23/simplified)

FEB 26

— Baking products maker the Oetker-Gruppe to acquire Belgian bakery goods supplier Diversi Foods (notified Jan. 22/deadline Feb. 26/simplified)

— Anglo-Dutch oil group Royal Dutch Shell plc to acquire retail energy supplier Impello Limited (notified Jan. 22/deadline Feb. 26/simplified)

FEB 27

— Private equity firm PAI and Canadian institutional investor British Columbia Investment Management Corp to jointly acquire fruit juice maker Refresco (notified Jan. 23/deadline Feb. 27/simplified)

FEB 28

— Spanish energy company Repsol and South Korean carmaker KIA Motors to set up a car-sharing joint venture (notified Jan. 24/deadline Feb. 28/simplified)

— Chinese car parts maker Hasco and Canadian peer Magna to set up a joint venture (notified Jan. 24/deadline Feb. 28/simplified)

— Private equity firm Bain Capital to acquire Italian paper company Fedrigoni (notified Jan. 24/deadline Feb. 28/simplified)

MARCH 2

— Private equity firm TA Associates to aquire a minority stake in software company Flexera Holdings (notified Jan. 26/deadline March 2/simplified)

— Insurer ReAssure, which is part of Swiss Re, to acquire UK insurer Legal & General Group’s Actaeon insurance business (notified Jan. 26/deadline March 2/simplified)

MARCH 5

— French private equity firm Pai Partners to acquire French packaging group Albea (notified Jan. 29/deadline March 5/simplified)

MARCH 6

— Australian chemicals maker Nufarm to acquire European crop protection product portfolio from Adama Agricultural Solutions Ltd and Syngenta (notified Jan. 30/deadline March 6)

MARCH 8

— Michelin North America and Sumitomo Corp of America to start a joint venture (notified Feb. 1/deadline March 8/simplified)

MARCH 9

— Chemicals company Quaker Chemical Corp and Hinduja Group’s Houghton Internatioal to merge (notified Feb. 2/deadline March 9)

— Singapore Airlines and Canadian training centre operator CAE International Holdings Ltd to set up a joint venture (notified Feb. 2/deadline March 9/simplified)

— British broadcaster Channel 4 to acquire joint control of European Broadcaster Exchange, which is jointly owned by Germany’s ProSiebenSat.1 Media SE, Television Francaise, Mediaset S.p.A and Spanish TV networks (notified Feb. 2/deadline March 9/simplified)

MARCH 22

— Italian eyewear maker Luxottica and French lens manufacturer Essilor to merge (notified Aug. 22/deadline extended to March 22 from March 8)

MARCH 26

— U.S. specialty material company Celanese and private equity firm Blackstone to combine their cellulose acetate tow units under a new joint venture (notified Sept. 9/deadline extended to March 26 from March 19)

APRIL 4

— Luxembourg-based steelmaker ArcelorMittal to acquire Italian steel plant (notified Sept. 21/deadline extended to April 4 from March 23 after the companies asked for more time)

APRIL 5

— German industrial group Bayer to acquire U.S. seeds company Monsanto (notified June 30/deadline extended to April 5 from March 12 after Bayer offered concessions)

MAY 30

— 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 May 30 from mAY 15)

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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