June 24, 2009 / 11:38 AM / 10 years ago

EU mergers and takeovers (June 24)

BRUSSELS, June 24 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:


— German utility company RWE (RWEG.DE) to acquire Dutch counterpart Essent (approved June 23)

— Japanese trading company Itochu Corp (8001.T), Japanese machinery conglomerate Mitsubishi Heavy Industries Ltd (7011.T) and Greek renewable energy company Enolia Energy SA acquire joint control of Greek photovoltaic systems supplier Enolia Solar Systems SA (approved June 24)

— Luxembourg investment companies BlueBay HYI and BlueBay MSI, and industrial holding company RHJ International RHJI.BR to acquire control of German metal components company Honsel (approved June 24)

— Russian petrochemicals firm Sibur to acquire Austrian Citco Waren-Handelsgesellschaft mbH, Cypriot Citco Holdings Ltd and Panama’s Westin Trading SA, which together form petrochemicals distributor Citco (approved June 24)

— Dutch private equity companies NPM Capital and Fortis Private Equity Holding Nederland BV to acquire Dutch plastic and rubber components company Helvoet Holding BV (approved June 24)







— U.S. industrial conglomerate General Electric (GE.N); media group News Corp (NWSA.O) and entertainment giant The Walt Disney Co (DIS.N) take joint control of U.S.-based video website Hulu LLC, currently controlled jointly by GE and News Corp (notified May 19/deadline June 26/simplified)


— UK mobile supplier Carphone Warehouse CPW.L, via its wholly owned UK subsidiary TalkTalk Group, acquires British Internet access provider Tiscali UK, a subsidiary of Tiscali SpA (TIS.MI) (notified May 20/deadline June 29)

— French banking and insurance services provider Credit Agricole (CAGR.PA) to acquire control over part of French fund custody and fund administration company CACEIS (notified May 20/deadline June 29/simplified)


— Italian motorway management company Sias (SIS.MI), Italian motorways company Atlantia (ATL.MI) and Spanish concession services company Acciona (ANA.MC) acquire joint control of five Chilean toll motorways, Operacion y Logistica de Infraestructuras, Litoral Central, Vespucio Sur, Gestion Vial and Autopista Nororiente (“Itinere Chilean assets”) (notified May 25/deadline June 30/simplified)


— German carrier Deutsche Lufthansa AG (LHAG.DE) to acquire counterpart Austrian Airlines AUAV.VI (notified May 8/ deadline June 17/extended on June 11/new deadline July 1)

— U.S. firm Safran USA, controlled by French aerospace company Safran SA (SAF.PA), to acquire joint control of U.S. detection products company General Electric Homeland Protection, currently controlled by U.S. company General Electric (GE.N) (notified May 26/deadline July 1/simplified)


— U.S. biomedical and pharmaceutical company Pfizer (PFE.N) to acquire U.S. pharmaceutical and healthcare company Wyeth WYE.N (notified May 29/deadline July 6)


— Brazilian food products firm Perdigao PRGA3.SA enters into a full merger with Brazilian peer Sadia SDIA4.SA (notified June 2/deadline July 7/simplified)

— Luxembourg-based steelmaker ArcelorMittal ISPA.AS to acquire sole control of Noble European Holdings BV, a Dutch subsidiary of U.S. tailor-welded blanks maker Noble International Ltd NOBLQ.PK (notified June 2/deadline July 7)


— UK oil and gas company BP (BP.L) and U.S. chemical products company Dupont DD.N to acquire joint control of U.S. company Biobutanol LLC, which develops and licenses technology related to the commercial production of biobutanol (notified June 3/deadline July 8)

— German healthcare and pharmaceutical group Celesio AG CLSGn.DE, controlled by Franz Haniel & Cie GmbH, to take sole control of Pharmexx GmbH, which provides temporary employment services to pharmaceutical companies (notified June 3/deadline July 8/simplified)


— British leisure travel company TUI Travel Holdings TT.L and Cypriot diversified asset holding company Oscrivia Ltd acquire joint control of leisure travel firms Voyage Kiev of Ukraine and VKO Moscow of Russia (notified June 4/deadline July 9/simplified)

— Britain’s Barclays Bank Plc (BARC.L) and Royal Bank of Scotland Group Plc (RBS.L) acquire joint control of Hillary S.a.r.l, a Luxembourg provider of medical assistance services that indirectly controls Spain’s USP Hospitales S.L.U, a provider of similar services (notified June 4/deadline July 9/simplified)


— French asset management company BNP Paribas Investment Partners SA, belonging to BNP Paribas (BNPP.PA), and peer Credit Agricole Asset Management Luxembourg SA (CAAM), belonging to Credit Agricole (CAGR.PA), acquire joint control of Luxembourg’s Fund Channel, a logistic platform for distribution of UCITS products that was previously owned exclusively by CAAM (notified June 8/deadline July 13/simplified)


— German energy supplier Energie Baden-Wuerttemberg AG (EnBW) (EBKG.DE) and Turkish conglomerate Borusan Holding take joint control of electricity producer Borusan Enerji, currently controlled solely by Borusan Holding (notified June 10/deadline July 15/simplified)


— German Bosch Thermotechnik GmbH, controlled by industrial conglomerate Robert Bosch GmbH [ROBG.UL], acquires Loos Deutschland GmbH, a family-owned supplier of commercial and industrial boiler systems (notified June 12/deadline July 17)

— Kazakh oil company Cooperatieve KazMunaiGaz PKI U.A., controlled by Kazakh national oil and gas company JSC National Company KazMunaiGaz RDGZ.KZ; and Austria’s Euraisian Energy Holdings GmbH, controlled by China’s largest oil and gas producer, China National Petroleum Corp (CNPC) [CNPET.UL], to take joint control of Kazakh oil and gas company JSC Mangistaumunaigaz (notified June 12/deadline July 17/simplified)

— Dutch electronics manufacturer Philips (PHG.AS) to acquire sole control of Italian espresso machine maker Saeco International Group S.p.A (notified June 12/deadline July 17/simplified)


— British drugmaker GlaxoSmithKline PLC (GSK.L) to acquire U.S. skincare company Stiefel Laboratories Inc (notified June 15/deadline July 20)


— Spanish renewable energy and construction firm Acciona Energia Internacional S.A.U., belonging to conglomerate Acciona Group (ANA.MC), and Japanese trading house Mitsubishi Corp (8058.T) acquire joint control of Amper Central Solar SA, a Portuguese wholesale supplier of electricity (notified June 18/deadline July 24/simplified)




The European Commission has 25 working days after a deal is filed for a first-stage review. It may extend that 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.

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