August 27, 2018 / 2:55 PM / 23 days ago

EU mergers and takeovers (Aug 27)

BRUSSELS, Aug 27 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

— Austrian motorcyle parts maker Pierer Industrie AG (PIAG) and Austrian industrial company Michael Tojner Industriebeteiligungs und -beratungs GmbH (MTIB) to acquire joint control of Austrian electronic parts maker ABATEC (approved Aug. 24)

— Chinese conglomerate Fosun International to acquire Austrian automated production systems maker FFT Gesellschaft mbH (approved Aug. 24)

— Luxembourg fitness chain Elixia Holding S.à.r.l and TryghedsGruppen, a member-based bodu whose members are policyholders of Danish insurer Tryg, to acquire joint control of Danish fitness chain Fitness DK Holding (approved Aug. 24)

NEW LISTINGS

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

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

AUG 27

— U.S. consumer products maker Procter & Gamble to acquire German peer Merck KGaA’s consumer health business (notified July 20/deadline Aug. 27)

AUG 28

— French company Europe Intermodal Holding, which is a unit of French group SNCF Mobilites, and Spanish holding company Krone-Mur Servifrio to acquire joint control of Spanish freight transport company Krone-Mur Primavia (notified July 23/deadline Aug. 28/simplified)

AUG 31

— HK conglomerate CK Hutchison to acquire sole control of Italian mobile network Wind Tre from Dutch mobile operator Veon (notified July 12/deadline extended to Aug. 31 from Aug. 17 after Hutchison offered concessions)

SEPT 5

— Luxembourg investment company JAB Holding Co S.a.r.l. to acquire British food outlet Pret a Manger (IPO-PRET.L) (notified July 31/deadlinie Sept. 5)

SEPT 6

— Canadian real estate investor Ivanhoe Cambridge, which is a subsidiary of Canadian pension manager Caisse de depot et placement du Quebec, and Canada’s Public Sector Pension Investment Board to recapitalise several Ivanhoe limited partnerships (notified Aug. 1/deadline Sept. 6/simplified)

— Asset manager Carlyle Group to acquire Dutch chemicals and paints company Akzo Nobel’s chemicals business (notified Aug. 1/deadline Sept. 6/simplified)

SEPT 12

— Italian gas company Spigas, which is controlled by Germany’s EnBW Energie BadenWürttemberg, and Italian peer Canarbino to acquire joint control of Italian gas company Miogas (notified Aug. 7/deadline Sept. 12/simplified)

SEPT 13

— German car parts supplier ZF Friedrichshafen, German car brakes maker Gustav Magenwirth, German bike brakes maker Brake Force One GmbH and German car battery company Batterien-Montage-Zentrum GmbH to set up a joint venture (notified Aug. 8/deadline Sept. 13/simplified)

SEPT 14

— 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 (notified Aug. 9/deadline Sept. 14/simplified)

SEPT 17

— International Flavors & Fragrances Inc to acquire Israeli flavours and ingredients maker Frutarom (notified Aug. 10/deadline Sept. 17/simplified)

SEPT 18

— iPhone maker Apple to acquire UK music streaming service Shazam (notified March 14/deadline extended to Sept. 18 from Sept. 4 after the companies asked for more time)

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 20

— 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 (notified Aug. 16/deadline Sept. 20/simplified)

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 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)

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)

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)

SUSPENDED DEADLINE

— Siemens and Alstom to merge their railway operations (notified June 8/deadline suspended on Aug. 7)

— German company BASF to acquire Belgian chemicals company Solvay’s worldwide polyamide business (notified May 22/deadline suspended on July 17)

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)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below