EU mergers and takeovers (April 16)

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EU mergers and takeovers (April 16)
Credit: © Reuters.

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

APPROVALS AND WITHDRAWALS

-- Finnish bioenergy company Vapo VAPO.UL and Finnish financial service cooperative group OP Financial Group to set up a joint venture (approved April 13)

-- Belgian grid operator Elia ELI.BR to acquire sole control of Belgian energy support services Eurogrid International CVBA (approved April 13)

-- Belgian supermarket chain Colruyt COLR.BR and Irish food producer Kerry Group KYGa.I to jointly acquire Dutch plant-based protein maker Ojah BV (approved April 13)

-- Insurer Sedgwick, which is controlled by private equity firm KKR KKR.N , to acquire insurance services provider Cunningham Lindsey (approved April 12)

-- French oil and gas major Total TOTF.PA to acquire part of French gas and power group Engie's ENGIE.PA liquified natural gas business (approved April 11)

-- French insurer Axa subsidiary Vendome Immobilier Commercial and French state-owned company Caisse des Depots et Consignations (CDC) to jointly acquire various properties (approved April 10)

-- Private equity firms Cathay Pacific Private Equity and Equistone Partners Europe to jointly acquire German car parts maker E. Winkemann (approved April 6)

-- Cerberus Capital Management CBS.UL to acquire Spanish bank BBVA's BBVA.MC real estate business (approved April 6)

-- U.S. conglomerate GE GE.N and Russia oil and natural gas producer Rosneft ROSN.MM to set up a joint venture (approved April 4)

NEW LISTINGS

-- Global asset manager The Carlyle Group CG.O to acquire Accolade Wines Holdings Australia and Accolade Wines Holdings Europe (notified April 13/deadline May 25/simplified)

-- British paper company Mondi (LON: MNDI ) MNDJ.J to acquire Finnish corrugated case materials maker Powerflute (notified April 11/deadline May 23)

EXTENSIONS AND OTHER CHANGES

-- U.S. aerospace and industrial company United Technologies Corp (NYSE: UTX ) UTX.N to acquire avionics maker Rockwell Collins (NYSE: COL ) COL.N (notified March 12/deadline extended to May 4 from April 19 after UTC offered concessions)

-- Germany's BASF BASFn.DE to acquire businesses from Bayer BAYGn.DE (notified March. 7/deadline extended to April 30 from April 16 after BASF offered concessions)

FIRST-STAGE REVIEWS BY DEADLINE

APRIL 16

-- Lenovo Group 0992.HK and Fujitsu 6702.T to set up a joint venture whereby Lenovo acquires a majority stake in certain assets of Fujitsu's PC business (notified March 7/deadline April 16)

APRIL 23

-- iPhone maker Apple AAPL.O to acquire UK music streaming service Shazam (notified March 14/deadline April 23)

-- U.S. investment company TA Associates and French investment bank Rothschild ROTH.PA to jointly acquire British software company Datix (notified March 14/deadline April 23/simplified)

APRIL 24

-- Scottish investment company Standardlifeaberdeen, UK oil and gas investment company Neptune and Danish insurer PensionDanmark to acquire joint control of natural gas transport company NGT (notified March 15/deadline April 24/simplified)

APRIL 26

-- Irish food company Kerry Group KYGa.I to acquire Dutch protein plant products maker Proparent (notified March 19/deadline April 26/simplified)

APRIL 30

-- UK measuring instruments maker Spectris SXS.L and Australian investment bank Macquarie Group MQG.AX to set up an Australian joint control Soundwave Holdings (notified March 21/deadline April 30/simplified)

MAY 3

-- U.S. auto parts retailer LKQ Corp LKQ.O to acquire German peer Stahlgruber (notified March 9/deadline extended to May 3 from April 18 after the German national competition authority requested to take over the case)

MAY 4

-- U.S. wheel parts supplier Accuride, which is controlled by private equity firm Crestview L.L.C., to acquire German peer Metro Wheels (notified March 12/deadline extended to May 4 from April 19 after Accuride submitted concessions)

MAY 8

-- Chinese carmaker Zhejiang Geely Holding Group to acquire control of Denmark's Saxo Bank (notified March 28/deadline May 8/simplified)

-- Investment advisor Black Diamond Capital Management to acquire car leather maker GST AutoLeather (notified March 28/deadline May 8/simplified)

-- Italian cable company Prysmian PRY.MI to acquire U.S. peer General Cable BGC.N (notified March 28/deadline May 8)

-- Belgian metals company Viohalco VIOH.BR and Belgian holding company Koramic to set up a joint venture (notified March 28/deadline May 8/simplified)

MAY 14

-- Swiss logistics company Panalpina PWTN.S and Dutch Flower Group to acquire joint control of Panalpina's Dutch perishables business (notified April 3/deadline May 14/simplified)

-- German rolling stock and train financing company Mitsui Rail Capital Europe GmBH and Germany's Siemens SIEGn.DE to set up a joint venture (notified April 3/deadline May 14/simplified)

MAY 15

-- U.S. cable company Liberty Global LBTYA.O to acquire Dutch peer Ziggo (notified April 4/deadline May 15)

MAY 23

-- Luxembourg-based steelmaker ArcelorMittal MT.AS to acquire Italian steel plant (notified Sept. 21/deadline extended to May 23 after ArcelorMittal offered concessions)

JUNE 7

-- South African chemicals company Tronox TROX.N to acquire the titanium dioxide business of Cristal, a subsidiary of Saudi Arabia's Tasnee (notified Nov. 15/deadline extended to June 7)

AUG 9

-- German industrial gases group Linde LING.DE to merge with U.S. peer Praxair (NYSE: PX ) PX.N (notified Jan. 12/ deadline extended to Aug. 9)

GUIDE TO EU MERGER PROCESS

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.

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