April 15, 2014 / 1:00 PM / 4 years ago

EU mergers and takeovers (April 15)

BRUSSELS, April 15 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:


— Deutsche Telekom to acquire control of GTS Central Europe from a consortium of international private equity firms (approved April 15)

— Australian investment fund AMP Capital Investors Ltd to acquire joint control of Luxembourg-based train leasing company Alpha Trains (Luxembourg) Holdings Sari (approved April 15)







— Mexican cement producer Cemex to acquire Swiss peer Holcim’s Spanish cement business (notified Feb. 28/deadline extended to April 23 from April 4 after Cemex submitted concessions)


— British engineering group John Wood and German peer Siemens to form a joint venture (notified March 17/deadline April 24)

— Japanese spirits maker Suntory Holdings Ltd to buy U.S. spirits company Beam Inc (notified March 17/deadline April 24)


— Sweden’s Volvo Construction Eequipment Aktiebolag to buy truck maker Terex Equipment Ltd (notified March 18/deadline April 25)


— Private equity firm Silver Lake to acquire U.S. talent agencies William Morris Endeavour Entertainment LLC and IMG Worldwide Holdings Inc (notified March 20/deadline April 29/simplified)

— Private equity funds Bain Capital and Anchorage Capital to jointly acquire bathroom products maker Ideal Standard, which is now solely controlled by Bain Capital (notified March 20/deadline April 29/simplified)

— British oil company DCC Energy to acquire Swedish motor fuels distributors Qstar Forsaljning, Qstar AB and Swedish payment cards software maker Card Network Solutions Europe AB (notified March 20/deadline April 29)


— British insurer Rothesay Life to buy Metlife Assurance (notified March 21/deadline April 30)


— Swiss-based chemicals company Ineos to buy South African petrochemicals group Sasol Ltd’s German solvent business (notified March 25/deadline May 5)


— Brookfield Infrastructure Fund to buy joint control of U.S. container terminal operator APM Terminals North America Inc which is now solely owned by New York port operator APM Terminals Elizabeth LLC (notified March 27/deadline May 7/simplified)


— U.S. cable company Liberty Global to acquire Dutch peer Ziggo (notified March 14/deadline extended to May 8 from April 23 after the Dutch competition authority asked to review the case)

— Chinese PC maker Lenovo to International Business Machine Corp’s low-end server business (notified March 28/deadline May 8/simplified)

MAY 14

— French water and waste group Veolia Environnement to acquire control of energy services company Dalkia International which is now jointly controlled by Veolia and French utility group EDF (notified April 2/deadline May 14/simplified)

MAY 15

— Swedish farmers group Lantmannen and Finnish timber and bioenergy company Vapo to combine their Swedish and Latvian wood pellets businesses (notified April 3/deadline May 15)

MAY 16

— French insurer Axa and Canadian pension fund Public Sector Pension Investment Board to jointly acquire real estate assets in Milan, Italy (notified April 4/deadline May 16/simplified)

— U.S. auto parts maker Visteon Corp to acquire U.S. car parts maker Johnson Controls’ car electronics business (notified April 4/deadline May 16)

— Dutch farmers cooperative Agrifirm and German agricultural products trader Baywa AG to set up a joint venture (notified April 4/deadline May 16/simplified)

— Swiss food company Nestle to acquire sole control of dermatology company Galderma, which is now jointly controlled by Nestle and French cosmetics company L’oreal S.A. (notified April 4/deadline May 16/simplified)

— Switzerland-based INEOS and Belgian chemicals company Solvay to form a joint venture (notified Sept. 16/deadline extended to May 16 after additional concessions offered)

MAY 23

— Swiss agricultural trader Ecom Agroindustrial to acquire Armajaro Holdings’ commodity trading arm (notified April 11/deadline May 23)


— Spanish telecoms provider Telefonica to buy Dutch peer KPN’s German unit (notified Oct. 31/deadline extended for the second time to June 23 from May 28 after Telefonica offered concessions)


— Swiss cement maker Holcim to buy some of Mexican peer Cemex’s assets in Europe . (notified Sept. 3/deadline extended for the third time to July 8 from May 2)

AUG 29

— U.S. chemical maker Huntsman Corp to acquire U.S. peer Rockwood Holdings’s titanium dioxide pigments business (notified Jan. 29/deadline Aug. 20/commitments submitted on March 28)


— Hutchison 3G UK to acquire Telefonica Ireland, a unit of Spanish telecoms provider Telefonica (notified Oct. 1/deadline suspended while the Commission waits for details of Hutchison’s revised concessions)


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.


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. (Editing 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