May 28, 2015 / 11:33 AM / 2 years ago

EU mergers and takeovers (May 28)

BRUSSELS, May 28 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Investment funds Equistone Partners Europe to acquire storage solutions maker Groupe Averys (approved May 28)

NEW LISTINGS

-- British Airways-owner IAG's to acquire a 25-percent stake in Irish airline Aer Lingus (notified May 27/deadline July 1)

-- China National Chemical Corp to acquire Italian tyre maker Pirelli (notified May 27/deadlineJuly 1)

-- U.s. investment firm Centerbridge Partners L.P. to acquire Italian lender Banca FarmaFactoring S.p.A (notified May 26/deadline June 30/simplified)

-- French shipping company CMA CGM to acquire Oldenburg-Portugiesische Dampfschiffs-Rhederei GmbH & Co. KG, which is a unit of the Bernhard Schulte GmbH & Co KG (notified May 22/deadline June 29)

EXTENSIONS AND OTHER CHANGES

FIRST-STAGE REVIEWS BY DEADLINE

JUNE 8

-- Private equity firm Advent International to acquire Austrian bank Hypo Group Alpe Adria AG (HGAA) (notified April 28/deadline June 8/simplified)

JUNE 9

-- Chemical holding company International Chemical Investors Group to buy Switzerland-based Ineos' chlorovinyls business (notified April 29/deadline June 9)

-- Private equity firms IDeA Capital Funds SGR S.p.A, IP Investimenti e Partecipazioni S.r.l. and Hunt Capital S.A. to jointly acquire orthopaedic products maker Corin Group PLC (notified April 29/deadline June 9/simplified)

JUNE 10

-- Singapore-based commodities firm Olam International Ltd to aquire Archer Daniels Midland Co's cocoa business (notified April 30/deadline June 10)

JUNE 11

-- U.S. flooring products maker Mohawk Industries to buy Luxembourg-based International Flooring Systems (notified March 2/deadline extended to June 11 from May 28 after the companies offered concessions)

-- U.S. metals company Alcoa to acquire U.S. titanium supplier RTI International Metals (notified May 4/deadline June 11)

-- U.S. packaging company Plastipak to acquire Spanish peer Appe Packaging Inc(notified May 4/deadline June 11)

JUNE 15

-- German drugs and chemicals maker Merck KGaA to acquire U.S. peer Sigma-Aldrich (notified April 21/deadline extended to June 15 from June 1 after Merck offered concessions)

JUNE 16

-- Steel producers Feralpi Siderurgica and Duferco, which is part of Swiss-based Duferco International Trading Holding, to acquire Italian peer Lucchini SpA Servola SpA (notified May 7/deadline June 16/simplified)

JUNE 18

-- Canada Life Group UK Ltd, which is a unit of Great-West Lifeco Inc, to acquire Irish insurer Legal & General International (Ireland) Ltd, which is a unit of British insurer Legal & General Group (notified May 11/deadline June 18/simplified)

JUNE 19

-- Finnish energy company Stl to acquire joint control of aviation Fuelling Service Norway AS, which is part of oil producer Royal Dutch Shell Keele Oy (notified May 12/deadline June 19)

JUNE 22

-- Singapore's Flextronics to acquire French telecoms company Alcatel-Lucent's Italian assets (notified May 13/deadline June 22/simplified)

-- U.S. telecoms equipment maker CommScope Holding Co Inc to buy Swiss electronics firm TE Connectivity's network gear business BNS (notified May 13/deadline June 22)

JUNE 23

-- U.S. private equity firm Lindsay Goldberg to acquire German metal producer VDM Metals group (notified May 18/deadline June 23/simplified)

-- German car parts maker Mahle Behr to acquire U.S. car parts maker Delphi's Thermal Systems unit (notified May 18/deadline June 23)

JUNE 24

-- Public Sector Pension Investment Board and Ontario Teachers' Pension Plan Board to jointly acquire Tonopah Solar Energy Holdings (notified May 19/deadline June 24/simplified)

JUNE 26

-- Private equity firm Permira and investment fund Canada Pension Plan Investment Board to jointly acquire U.S. software company Informatica (notified May 21/deadline June 26/simplified)

-- DCC Holding A/S, which is a subsidiary of Irish company DCC Plc, and DLG Service A/S, which is unit of Danish cooperative DLG Group, to combine their Danish energy businesses (notified May 21/deadline June 26)

-- PRS for Music Ltd (PRSfM), Foreningen Svenska Tonsattares Internationella Mysikbyra (Stim) and Gesellschaft für musikalische Aufführungs- und mechanische Vervielfältigungsrechte (Gema) to set up a joint venture to administer mechanical and performing rights (notified Nov. 28/deadline June 26/companies offer commitments on March 13)

JUNE 29

-- French investment fund LBO France to acquire control of clothing retailer IKKS (notified May 22/deadline June 29/simplified)

-- Canada Pension Plan Investment Board to acquire joint control of British port operator ABP together with infrastructure investor Borealis and Singapore state-owned investment vehicle GIC Pte Ltd (notified May 22/deadline June 29/simplified)

JULY 24

-- German conglomerate Siemens to purchase U.S. oilfield equipment maker Dresser-Rand Group Inc (notified Jan. 9/deadline July 24)

AUG 6

-- Commodities trader Cargill to buy rival Archer Daniels Midland Co's global chocolate business (notified Jan. 19/deadline Aug. 6/Cargill offers concessions on May 22)

AUG 21

-- U.S. conglomerate General Electric to acquire most of French engineering group Alstom's power equipment business (notified Jan. 19/deadline extended for the third time to Aug. 21 from Aug. 6)

SEPT 2

-- Norwegian telecoms company Telenor and Swedish peer TeliaSonera to combine their Danish mobile businesses (notified Feb. 27/deadline extended to Sept. 2 from Aug. 19 after the companies asked for more time)

SUSPENDED

-- SOCAR, Azerbaijan's state energy company, to buy stakes in Greek natural gas grid operator DESFA from Greek natural gas utility DEPA (notified Oct. 1/deadline suspended on Jan. 21)

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. (Compiled 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