January 16, 2019 / 12:20 PM / in 6 months

EU mergers and takeovers (Jan 16)

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

APPROVALS AND WITHDRAWALS

— Dutch financial services group NN Group NN.AS and German insurer Allianz to jointly acquire eight property companies (approved Jan. 13)

— Spain’s automotive logistics company Bergé and logistics services company GEFCO España to create joint venture (approved Jan. 11)

— German industrial company Siemens and TRIL Urban Transport Private Limited to set up an Indian rail joint venture (approved Jan. 9)

— Investment fund IFM Investors and commodities trader Vitol to jointly acquire oil products terminal operator VTTI, which is now jointly controlled by Vitol Holding BV and Buckeye Partners (approved Jan. 9)

— Turkish pension fund OYAK to acquire Portuguese cement producer Cimpor (approved Jan. 9)

— Swiss distributor of IT products and services SoftwareONE Holding to acquire sole control of German distributor of IT products and services COMPAREX AH (approved Jan. 8)

— Distributor of auto parts Digital Auto Parts, controlled by private equity investment firm Bain Capital investors, to acquire online retail auto parts distributor Oscaro Group (approved Jan. 8) — A6 Invest 9 TF, acting on behalf of Astorg Asset Management, and Montagu Private Equity LLP to acquire joint control of plastic drug delivery systems manufacturer Nemera Capital and its subsidiaries (approved Jan. 7)

NEW LISTINGS

None

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

JAN 15

— MML Capital Partners Fund VI GP Ltd to acquire joint control of Peggy Holdco Limited, a subsidiary of Australian funds management company Macquarie European Investment Holdings Limited (notified Nov. 29/deadline Jan. 15/simplified)

— French logistics services company Bollore Africa Logistics and Dutch operator of container terminals APM Terminals BV to acquire joint control of Ivory Coast container terminal constructor Cote d’Ivoire Terminal (notified Nov. 29/deadline Jan. 15/simplified)

JAN 18

— Private equity fund Equistone Partners Europe to acquire French sporting goods retailer Courir (notified Dec. 4/deadline Jan. 18/simplified)

JAN 23

— India’s UPL Corp to acquire U.S. chemicals maker Platform Specialty Products Corp’s agrochemicals business Arysta LifeScience (notified Dec. 7/deadline Jan. 23)

JAN 25

— German company BASF to acquire Belgian chemicals company Solvay’s worldwide polyamide business (notified May 22/deadline Jan. 25/concessions offered on Oct. 15)

JAN 28

— German car parts makers Aunde and Brose to set up a joint venture (notified Dec. 12/deadline Jan. 28/simplified)

JAN 29

— Agricultural merchant Cargill and grains trader Archer Daniel Midland to set up a joint venture (notified Dec. 13/deadline Jan. 29/simplified)

JAN 30

— Japanese holding company Mitsubishi UFJ Financial Group and U.S. tech company Akamai to set up a payment processing platform in Japan (notified Dec. 14/deadline Jan. 30/simplified)

— Canadian auto parts maker Magna International to acquire car transmissions systems maker Getrag Ford Transmissions Slovakia (notified Dec. 14/deadline Jan. 30/simplified)

JAN 31

— Australian engineering services provider Worleyparsons to acquire U.S. peer Jacobs Engineering Group Inc’s energy, chemicals and resources business (notified Dec. 17/deadline Jan. 31/simplified)

FEB 1

— Private equity firm Blackstone to acquire a majority stake in Baltic bank Luminor from Swedish bank Nordea and Norwegian lender DNB (notified Dec. 18/deadline Feb. 1/simplified)

— United Arab Emirates-based Mubadala Investment Company and Amerra Capital Management LLC to jointly acquire majority stakes in Greek fish farming companies Nireus and Selonda (notified Dec. 18/deadline Feb. 1)

FEB 2

— German copper products maker Wieland-Werke to acquire German copper smelter Aurubis’ flat rolled products unit Products Schwermetall (notified June 13/deadline extended to Feb. 2 from Jan. 17 after Wieland-Werke submitted concessions)

FEB 4

— German carmaker Daimler DAIGn.DE to acquire a stake in used-car portal Heycar from rival Volkswagen VOWG_p.DE (notified Dec. 19/deadline Feb. 4/simplified)

— Chemicals distributor Univar to acquire plastics distributor Nexeo (notified Dec. 19/deadline Feb. 4/simplified)

FEB 5

— Japan’s Denso corp and Aisin Seiki to create joint venture in powertrains for electric and hybrid vehicles (notified Dec. 20/deadline Feb. 5/simplified)

—Etem Belgium and Gestamp North Europe Services create two joint ventures (notified Dec. 20/deadline Feb. 5/simplified)

FEB 6

— France’s EPIC SNCF Gares & Connexions and Ceetrus pursue joint venture to create new company SEMOP (notified Dec. 21/deadline Feb. 6/simplified)

— CVC Capital Partners to acquire installation company Ahlsell AB (notified Dec. 21/deadline Feb. 6/simplified)

— French sea transportation company CMA CGM to acquire sole control over Swiss freight forwarding and logistics company CEVA (notified Dec. 21/deadline Feb. 6/simplified)

— Global real estate investor Ivanhoe Cambridge to acquire joint control with Australia’s Macquarie of U.S.-based RHP Platform and RHP Manager (notified Dec. 21/deadline Feb. 6/simplified)

— China’s Fosun to obtain passively de facto control of German fashion company Tom Tailor (notified Dec. 21/deadline Feb. 6/simplified)

FEB 7

— Siemens Project Ventures to merge with Veja Mate Offshore Project (notified Jan. 3/deadline Feb. 7/simplified)

FEB 11

— French financial services group Société Générale to acquire sole control over Germany’s Commerzebank’s “Equity Markets & Commodities” business (notified Jan. 7/deadline Feb. 11)

FEB 12

— Paris-based Air France-KLM to acquire stake and joint control with U.S. Delta Air Lines and Virgin Group of U.K.-based Virgin Atlantic Limited and Air France, KLM, Delta and Virgin Atlantic will combine transatlantic joint ventures (notified Jan. 8/deadline Feb. 12)

— Japanese trading and investing company Sumitomo Corp. to acquire joint control of Mahindra Summit Agriscience Ltd. with original sole owner Mahindra Agri Solutions Ltd. (notified Jan. 8/deadline Feb. 12/simplified)

FEB 13

— Singapore’s Sivantos and Denmark’s Widex to create a hearing aid and hearing accessory manufacturing and supply joint venture (notified Jan. 9/deadline Feb. 13)

— IRCP and Diamond Transmission Corporation Ltd. to have joint control of joint venture Diamond Transmission Partners (notified Jan. 9/deadline Feb. 13/simplified)

— Swedish shipping company Stena Rederi to create short-sea transport services joint venture with German logistics company Glovis Europe (notified Jan. 9/deadline Feb. 13/simplified)

— Japan’s JERA, Australia’s Macquarie, Ørsted and Taiwanese Swancor to jointly control holding company Formosa 1 to develop and construct an offshore windfarm in Taiwan (notified Jan. 9/deadline Feb. 13/simplified)

FEB 14

— Investment manager Infrared, Allianz and independent fund management company DIF to acquire joint control over holding company Daiwater Investment Ltd. (notified Jan. 10/deadline Feb. 14/simplified)

— OMERS Infrastructure and communications company Altice France to acquire joint control over French fiber network business SFR FTTH (notified Jan. 10/deadline Feb. 14/simplified)

FEB 15

— Ontario Teachers’ Pension Plan Board and Madison Dearborn Partners, LLC to acquire joint control over mobile-tracking technology firm Fleet Complete (notified Jan. 11/deadline Feb. 15/simplified)

— Italy’s Società Cattolica di Assicurazione – Società cooperativa and France’s Inter Mutelles Assistance S.A. to acquire joint control over Italian non-life insurance and non-life reinsurance company IMA Italia Assistance S.p.A. and IMA Servizi S.c. a r.l. (notified Jan. 11/deadline Feb. 15/simplified

FEB 18

— Siemens and Alstom to merge their railway operations (notified June 8/deadline extended to Feb. 18 from Jan. 28 after the companies offered concessions)

— Korea’s climate control systems company Hanon to acquire part of Magna’s cooling and pump technology company Rotor (notified Jan. 14/deadline Feb. 18/simplified)

— U.S.-established Ares Management Corp. and energy company Electricité de France SA to acquire joint control over a Duesseldorf office complex owned by an IKB AG subsidiary (notified Jan. 14/deadline Feb. 18/simplified)

— Triton to acquire sole control of online tour operator Sunweb (notified Jan. 14/deadline Feb. 18/simplified)

FEB 19

— Japanese technology group NEC to acquire sole control of Danish IT company KMD Holding (notified Jan. 15/deadline Feb. 19/simplified)

MAR 26

—- Germany’s Thyssenkrupp and India’s Tata Steel to set up a steel joint venture (notified Sept. 25/deadline extended to March 26 from March 19 after the companies asked for more time)

APRIL 15

— 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 April 15 from Nov. 28 after the European Commission opened an in-depth investigation)

APRIL 16

— Steel company Aperam to acquire Netherlands producer of materials from nickel and nickel alloy VDM Metals Holding (notified Oct. 23/deadline extended to April 16 from Nov. 29 after the European Commission opened an in-depth investigation)

MAY 2

— 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 Nov. 27/deadline extended to May 2 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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