December 9, 2016 / 11:37 AM / 9 months ago

EU mergers and takeovers (Dec 9)

BRUSSELS, Dec 9 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Chinese aviation and shipping group HNA Group to acquire a stake in Air France-KLM’s catering business Servair (approved Dec. 8)

NEW LISTINGS

-- U.S. investment group KKR to acquire a majority stake in Swedish bed and mattrass maker Hilding Anders (notified Dec. 8/deadline Jan. 20/simplified)

-- South Africa’s Barloworld Ltd and Germany’s BayWa to establish BHBW joint venture for agriculture and materials handling operations in southern Africa. (notified Dec. 8/deadline Jan. 20/simplified)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

DEC 15

-- Italian utility Enel to acquire Italian fibre-optic company Metroweb which will merge with Enel Open Fiber, a joint venture with Italian state lender Cassa Depositi e Prestiti (CDP) (notified Nov. 10/deadline Dec. 15/simplified)

DEC 16

-- French group Danone to acquire U.S. organic foods producer WhiteWave Foods Co (notified Oct. 26/deadline extended to Dec. 16 from Dec. 2 after concessions offered)

DEC 19

-- Germany’s Deutsche Post AG to acquire UK postal operator UK Mail Group (notified Nov. 14/deadline Dec. 19/simplified)

DEC 20

-- UK retail property developer Hammerson and Irish life insurance and pension company Irish Life Assurance to jointly acquire Ilac Shopping Centre in Dublin (notified 15/deadline Dec. 20/simplified)

DEC 21

-- Irish technology distribution company Exertis, which is part of DCC PLC, to acquire UK data-storage company Hammer (notified Nov. 16/deadline Dec. 21)

-- Spanish publisher Grupo Planeta and Italian publisher De Agostini Libri to form joint venture publishing company DeA Planeta Libri in Italy (notified Nov. 16/deadline Dec. 21/simplified)

-- Funds managed by U.S. asset management company Bain Capital to acquire U.S. automotive business services provider MSX International (notified Nov. 16/deadline Dec. 21/simplified)

DEC 22

-- Hewlett Packard Enterprise Services (HPES), IT services business of Hewlett Packard Enterprises, to acquire U.S. IT services group Computer Sciences Corp (notified Nov. 17/deadline Dec. 22/simplified)

-- Coca Cola Company to buy 50 percent stake in Lithuanian mineral water producer Neptuno Vandenys from Coca Cola Hellenic Bottling Company (notified Nov. 17/deadline Dec. 22)

-- Verizon Communications to acquire U.S. internet company Yahoo (notified Nov. 17/deadline Dec. 22)

DEC 23

-- Asset management company The Carlyle Group to acquire German public holding company KAP-Beteiligungs AG (notified Nov. 18/deadline Dec. 23/simplified)

-- Investment company Aurelius Group to acquire U.S. office supplies retailer Office Depot’s European operations (notified Nov. 18/deadline Dec. 23/simplified)

-- German financial services company Allianz and Dutch insurance company NN Group to acquire joint control over German student housing company The FIZZ (notified Nov. 18/deadline Dec. 23/simplified)

JAN 3

-- Luxembourg insurance company Allianz Infrastructure Luxembourg I and UK fund management copmany Dalmore Capital to jointly acquire UK infrastructure provider Bazalgette Equity Limited (notified Nov. 21/deadline Jan. 3/simplified)

JAN 4

-- Private equity firms CVC and Cinven to jointly acquire Luxembourg-based credit card provider NewDay Group Holdings (notified Nov. 22/deadline Jan. 4/simplified)

-- U.S. car sealing and thermal management products Dana to acquire transmissions and hydraulic and electronic parts maker Brevini Group’s fluid power and power transmission units (notified Nov. 22/deadline Jan. 4/simplified)

JAN 5

-- UK engineering company Smiths Group to acquire U.S.-based Morpho Detection from French aerospace company Safran (notified Nov. 23/deadline Jan. 5)

-- Private equity firms Cinven, Permira and Mid Europa to acquire Polish e-commerce business Allegro and Polish price comparison website Ceneo from South African media and e-commerce company Naspers (notified Nov. 23/deadline Jan. 5/simplified)

JAN 6

-- Chinese insurance company Fosun to acquire German fashion house Tom Tailor (notified Nov. 24/deadline Jan. 6/simplified)

JAN 9

-- Venture capital company Rockaway Capital SE, energy company EC Investments and Czech financial services company PPF Group N.V. to create online shopping joint venture Sully System (notified Nov. 25/deadline Jan. 9/simplified)

-- Czech e-commerce services company Rockaway Capital SE, energy company EC Investments and Czech financial services company PPF Group N.V. to acquire Sully systems, which will act as a holding company (notified Nov. 25/deadline Jan. 9/simplified)

JAN 10

-- French automotive manufacturer Groupe PSA to take control of French second-hand car distributor Groupe Aramis (notified Nov. 28/deadline Jan. 10/simplified)

-- Business consultancy Everis Initiatives, which is a subsidiary of Japanese group NTT Data, and Spanish bank Bankia to jointly acquire Spanish company Nettit Colaborative Payment, which is now solely controlled by Everis (notified Nov. 28/deadline Jan. 10/simplified)

JAN 11

-- U.S. medical devices maker Abbott Laboratories to acquire U.S. diagnostics company Alere (notified Nov. 29/deadline Jan. 11)

JAN 13

--Investment firm HIG Capital to acquire shares in Dutch recycling company Ecore (notified Dec. 1/deadline Jan. 13/simplifed)

-- U.S. conglomerate Koch Industries to acquire U.S. peer Guardian Industries (notified Dec. 1/deadline Jan. 13/simplified)

JAN 17

--German automotive parts supplier Rheinmetall Automotive and Chinese automobile radiator company Zhejan Yinlun Machinery to form joint venture JV (notified Dec. 5/deadline Jan. 17/simplified procedure)

-- U.S. investment firm KKR & Co. to take sole control of Japanese auto parts supplier Calsonic Kansei Corp (notified Dec. 5/deadline Jan. 17/simplified)

JAN 18

-- Private equity firm Permira to acquire German fashion retailer and exporter Schustermann & Borenstein (notified Dec. 6/deadline Jan. 18/simplified)

JAN 20

-- U.S. investment group KKR to acquire a majority stake in Swedish bed and mattrass maker Hilding Anders (notified Dec. 8/deadline Jan. 20/simplified)

-- South Africa’s Barloworld Ltd and Germany’s BayWa to establish BHBW joint venture for agriculture and materials handling operations in southern Africa. (notified Dec. 8/deadline Jan. 20/simplified)

FEB 23

-- German cement producers Heidelbergcement and Schwenk to jointly acquire Mexican peer Cemex’s Croatian unit (notified Sept. 5/deadline extended to Feb. 23 from Oct. 10 after the European Commission opened an in-depth investigation)

FEB 28

-- U.S. chemicals company Dow Chemical to merge with DuPont (notified June 22/deadline Feb. 28)

MARCH 6

-- Deutsche Boerse and the London Stock Exchange plan to merge (notified Aug. 24/deadline extended to March 6 from Feb. 13 after the companies asked for more time)

MARCH 29

-- Chinese state-owned company China National Chemical Corp (ChemChina) to acquire Swiss pesticides and seeds group Syngenta (notified Sept. 23/deadline March 29)

SUSPENDED

-- Azerbaijan’s state energy company SOCAR 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)

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