May 24, 2017 / 11:52 AM / 3 years ago

EU mergers and takeovers (May 24)

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


— Waste water company SGAB and Spanish infrastructure company Acciona to acquire 10 percent of Sociedad Concesionaria de la Zona Regable del Canal de Navarra (approved May 23)


— Japanese telecommunications and tech investment group SoftBank, India’s Bharti and Taiwanese company Hon Hai to jointly acquire Indian renewable energy company SB Energy Holdings Ltd which is now solely solely owned by SoftBank (notified May 17/deadline June 26/simplified)




MAY 29

— French EDF to acquire equipment and fuel manufacturing company Areva (notified April 18/deadline May 29)

MAY 30

— French media group Vivendi to acquire de facto sole control of Italy’s Telecom Italia (notified March 31/deadline extended to May 30 from May 12 after Vivendi offered concessions)

MAY 31

— Manufacturing and technology company General Electric’s Oil & Gas to acquire oilfield services company Baker Hughes (notified April 20/deadline May 31)


— German company CWS-Boco, which is part of German firm Haniel, to acquire some of British support services firm Rentokil’s workwear and hygiene units (notified April 26/deadline June 7)


— German chemicals company Evonik Industries to acquire U.S. company J.M. Huber Corp’s silica business (notified April 27/deadline June 8)


— Private equity firm Hellman & Friedman to acquire Spanish logistics platform Allfunds Bank (notified April 28/deadline June 9/simplified)

— U.S. smartphone chipmaker Qualcomm to acquire Dutch companyr NXP Semiconductors NV (notified April 28/deadline June 9)

— Chinese textiles company Shanghai Shenda to acquire International Automotive Components Group’s trim and acoustics unit business (notified April 24/deadline June 9/simplified)


— American healthcare company Johnson & Johnson to acquire Swiss biotech company Actelion (notified April 12/deadline extended to June 12 from May 24 after the companies offered concessions)

— Norwegian debt collection agency Nordic Capital, which is majority owned by Nordic Capital Fund VIII and Swedish peer firm Intrum Justitia to merge (notified April 12/deadline extended to June 12 from May 24 after the companies offered concessions)


— Private equity firms BC Partners and Pollen Street Capital Ltd to jointly acquire UK bank Shawbrook Group plc (notified May 4/deadline June 14/simplified)


— U.S. private equity firm Leonard Green & Partners and the Ontario Municipal Employees Retirement System Primary Pension Plan (OMERS) to acquire joint control of U.S. car repairs company OPE Caliber Holdings (notified May 5/deadline June 15/simplified)

— Austrian refractories materials maker RHI to acquire a controlling stake in Brazilian peer Magnesita Refratarios (notified May 5/deadline June 15)


— Investment bank Goldman Sachs and French investment company Eurazeo to jointly acquire Dominion Web Solutions (notified May 12/deadline June 21/simplified)

— French private equity company Ardian France and real estate agent Jones Lang LaSalle Inc to jointly acquire an office building in France (notified May 12/deadline June 21/simplified)

— French minerals company Imerys to acquire French calcium aluminate cements maker Kerneos (notified May 12/deadline June 21)


— German online fashion retailer Zalando and fashion company Bestseller United to set up a joint venture (notified May 15/deadline June 22/simplified)


— Private equity firms Advent International and Bain Capital Investors to jointly acquire payment services company RatePAY (notified May 17/deadline June 26/simplified)

— Private equity firm Oaktree to acquire German nursing care provider Vitanas P&W (notified May 17/deadline June 26/simplified)


— Chrysaor Holdings Ltd, which is indirectly controlled by investment company Harbour Energy, to acquire some of Shell’s offshore assets (notified May 18/deadline June 27/simplified)

— Chinese conglomerate HNA Holding Group Co to acquire Singapore-listed logistics company CWT (notified May 18/deadline June 27/simplified)

— Buyout firm Blackstone and Canada Pension Plan Investment Board (CPPIB) to acquire indirect joint control of U.S. educational content provider Ascend Learning (notified May 18/deadline June 27/simplified)


— Japanese shippers Nippon Yusen Kabushiki Kaisha, Mitsui OSK Lines and Kawasaki Kisen Kaisha to merge their container units (notified May 19/deadline June 28)

— French oil services group TechnipFMC, German industrial gases group Linde AG and Russia’s Research and Design Institute on Gas Processing (JSC NIPIgaspererabotka) to set up a joint venture (notified May 19/deadline June 28/simplified)


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. (Reporting by Foo Yun Chee)

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