July 16, 2018 / 2:48 PM / 3 months ago

EU mergers and takeovers (July 16)

BRUSSELS, July 16 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

— Business travel services company Global Business Travel Holdings Ltd, which is jointly controlled by American Express Co and Qatar Holding, to acquire UK peer Hogg Robinson Group Plc (approved July 13)

— Italian company Snam to acquire Greek gas grid operator DESFA (approved July 13)

— Private equity firm Cinven to acquire pet food company Partner in Pet Foods Holdings (approved July 13)

— Private equity firm CVC Capital Partners to acquire healthcare provider Mehlaeinen Holding (approved July 13)

— French private equity firm PAI Partners to acquire UK industrial services provider M Group Services (notified June 20/deadline July 25/simplified)

NEW LISTINGS

None

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

JULY 18

— South Korea’s LG Electronics to acquire sole control of Austrian car lighting systems makers ZKW Holding and Mommert Gewerbeimmobilien (notified June 13/deadline July 18/simplified)

— South Korean consumer electronics company LG Electronics to acquire Austrian car light maker ZKW Holding GmbH (notified June 13/deadline July 18/simplified)

July 20

— Private equity firm Blackstone to acquire a majority stake in Thomson Reuters’ Financial and Risk (F&R) unit (notified June 15/deadline July 20)

— Finnish biofuel company Neste to acquire a majority stake in Dutch animal fat trader Demeter Animal Fats and Proteins (notified June 15/deadline July 20)

JULY 23

— 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 July 23 from July 9 after the companies provided concessions)

— French aerospace and defence group Thales to acquire Franco-Dutch chipmaker Gemalto (notified June 18/deadline July 23)

JULY 25

— German construction products maker Knauf International to acquire U.S. peer Armstrong World Industries’ EMEA and Pacific Rim businesses (notified June 20/deadline July 25)

JULY 27

— German company Oetker Group to acquire a majority stake in Spanish sparkling wine producer Freixenet (notified June 22/deadline July 27)

— Swiss asset manager Partners Group Holding to acquire German metering company Techem from Macquarie (notified June 22/deadline July 27/simplified)

— Czech investment group PPF Group to acquire Norwegian telecoms provider Telenor’s central European businesses (notified June 22/deadline July 27)

— Macquarie Group and Goldman Sachs to jointly acquire Dutch terminal operator HES International (notified June 22/deadline July 27)

JULY 30

— Irish fresh food producer Total Produce to acquire a 45-percent stake in U.S. peer Dole Food Company (notified June 11/deadline extended to July 30 from July 16 after Total offered concessions)

— U.S. private equity firm Lindsay Goldberg to acquire German plastic product maker Coveris Rigid (notified June 25/deadline July 30/simplified)

— U.S. house appliances maker Whirlpool and Italian cooker hood maker Elica to jointly acquire Indian electrical appliances company Elica PB India (notified June 25/deadline July 30/simplified)

JULY 31

— German DIY retail chains Raiffeisen Ware Austria AG and ZG Raiffeisen to set up a joint venture (notified June 26/deadline July 31/simplified)

— Metals and commodities company Liberty House Group to acquire French aluminium smelter Aluminium Dunkerque from Rio Tinto (notified June 26/deadline July 31/simplified)

— Spanish fashion and cosmetics maker PUIG and German electrical appliances maker Bosch Group’s unit BSH to jointly acquire Spanish perfume maker Noustique (notified June 26/deadline July 31/simplified)

AUG 1

— German copper products maker Wieland-Werke to acquire German copper smelter Aurubis’ flat rolled products unit Products Schwermetall (notified June 13/deadline extended to Aug. 1 from July 18 after the companies offered concessions)

AUG 2

— Italian car rental company Eurocar, which is a unit of German carmaker Volkswagen eurocar, to acquire sole control of Italian peer Bonaldi (notified June 28/deadline Aug. 2)

AUG 3

— Swiss logistics company Kuehner+Nagel and Singapore state-owned investment company Temasek to set up a joint venture (notified June 29/deadline Aug. 3/simplified)

— French insurer Axa to acquire German peer Roland (notified June 29/deadline Aug. 3/simplified)

AUG 7

— Algerian state-owned oil and gas company Sonatrach to acquire an Italian refinery from Exxon Mobil (notified July 3/deadline Aug. 7/simplified)

— U.S. powertrain technology company Tenneco to acquire car parts maker Federal Mogul (notified July 3/deadline Aug. 7)

AUG 8

— Singapore state-owned property developer GIC Group and real estate developers Frasers Property Ltd JustGroup to set up a joint venture (notified July 4/deadline Aug. 8/simplified)

— Private equity firm Bain Capital to acquire German tyre company Reifen Krieg Group (notified July 4/deadline Aug. 8/simplified)

AUG 9

— Private equity firm KKR to acquire British restaurant operator Casual Dining Bidco (notified July 5/deadline Aug. 9/simplified)

— Holding company Elixia, which is controlled by Nordic private equity firm Altor Fund III, and Tryghedsgruppen, whose members are policyholders of insurer Tryg, to jointly acquire fitness chain Fitness DK Holding (notified July 5/deadline Aug. 9/simplified)

— French consumer credit provider CA Consumer Finance S.A. and Spanish bank Bankia to set up a joint venture (notified July 5/deadline Aug. 9/simplified)

— Japan’s Sumitomo Corp and Belgian wind farm developer Parkwind to jointly acquire Belgian wind farm operator Northwester2 (notified July 5/deadline Aug. 9/simplified)

AUG 10

— Fertiliser company Uralchem to acquire sole control of Russian potash producer Uralkali (notified July 6/deadline Aug. 10/simplified)

AUG 17

— HK conglomerate CK Hutchison to acquire sole control of Italian mobile network Wind Tre from Dutch mobile operator Veon (notified July 12/deadline Aug. 17)

AUG 24

— German industrial gases group Linde to merge with U.S. peer Praxair (notified Jan. 12/ deadline extended to Aug. 24)

SEPT 4

— 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)

OCT 31

— German company BASF to acquire Belgian chemicals company Solvay’s worldwide polyamide business (notified May 22/deadline extended to Oct. 31 from June 26 after the European Commission opened an in-depth investigation)

NOV 16

— Deutsche Telekom to acquire Swedish peer Tele2’s Dutch unit and merge it with its Dutch business T-Mobile Nederland (notified May 2/deadline extended for the second time to Nov. 16 from Nov. 9 after the companies asked for more time)

NOV 21

— Siemens and Alstom to merge their railway operations (notified June 8/deadline extended to Nov. 21 from July 13 after the European Commission opened an in-depth investigation)

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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