January 23, 2018 / 4:15 PM / 4 months ago

EU mergers and takeovers (Jan 23)

BRUSSELS, Jan 23 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

— Steel group Schmolz + Bickenbach to acquire some assets of Asco Industries (approved Jan 22)

NEW LISTINGS

None

EXTENSIONS AND OTHER CHANGES

— Chinese pork supplier WH Group subsidiary and U.S. meat producer Smithfield to acquire Polish meat company Pini Polonia (notified Nov. 27/deadline extended to Jan. 24 from Jan. 10/Polish competition authority asked to review the case Dec. 15/referred to the Polish competition authority)

FIRST-STAGE REVIEWS BY DEADLINE

JAN 25

— SHV Holdings, through its LPG sector specialist SHV Energy, to acquire full control of Liquigas, a joint venture of SHV and Brixia Finanziaria (notified Dec. 12/deadline Jan. 25/simplified)

JAN 30

— U.S. insulation and roofing company Owens Corning Finland to acquire financial services provider Parry 1 Holding (notified Dec. 15/deadline Jan. 30)

FEB 2

— Investment firms Vitruvian and Verdane Capital Advisors to take joint control of online car parking service EasyPark (notified Dec. 21/deadline Feb. 2/simplified)

— Holding company EG Group to buy Esso Germany’s business (notified Dec. 21/deadline Feb. 5/simplified)

— Packaging manufacturer S.A. Industrias Celulosa Aragonesa (SAICA) to acquire peer Emin Leydier (notified Dec. 20/deadline Feb. 2/simplified)

FEB 6

— German renewable energy producer BayWa r.e. to acquire all of the shares in and control over C.E.T. Clean Energy Trading GmbH (notified Dec. 22/deadline Feb. 6/simplified)

— Italian EDF unit Edison to buy Gas Natural’s unit Gas Natural Vendita Italia (notified Nov. 22/deadline Feb. 6/simplified)

— German engineering group Hochtief to take sole control of Spanish peer Abertis (notified Dec 22/deadline Feb 6.)

— U.S. television network Discovery Communications to acquire U.S. peer Scripps Networks Interactive Inc (notified Dec. 8/ deadline extended to Feb. 6 after Discovery offered concessions)

FEB 12

— Swiss logistics group Kuehne + Nagel to acquire sole control of the drinks distribution joint venture Kuehne + Nagel Drinkflow Logistics Holdings Limited (notified Jan. 8/deadline Feb. 12/simplified)

— Ireland’s Toohil Telecom to acquire Eircom Holdco SA from a group of investors. (notified Jan. 8/deadline Feb. 12/simplified)

FEB 13

— Private Equity Fund Nordic Capital VIII Limited to buy Alloheim Senioren-Residenzen Holding SE (notified Jan. 9/ deadline Feb. 13/ simplified)

— EDF Unit EDF ENR PWT and Canadian Solar to set up a joint venture (notified Jan. 9/ deadline Feb. 13/ simplified)

FEB 14

— Car rental company Avis Budget Group and Turkey’s Koc Holding to acquire Avis’ Greek franchisee (notified Jan. 10/deadline Feb. 14/simplified)

— Units of Ivanhoe Cambridge and QuadReal Property to set up joint venture to invest in Indian real estate projects, particularly logistics parks (notified Jan. 10/ deadline Feb. 14/ simplified)

FEB 15

— Private equity firm Waterland to acquire Dutch energy provider De Nederlandse Energie Maatschappij (notified Jan. 11/deadline Feb. 15/simplified)

FEB 16

— German industrial gases group Linde to merge with U.S. peer Praxair (notified Jan. 12/ deadline Feb. 16)

— Shipping terminal investment holding PSA International to transfer sole control over PSA Panama International Terminal to joint control by PSA International and Terminal Investment Limited (notified Jan. 12/ deadline Feb. 16/ simplified)

FEB 20

— Swiss Bell Food, part of Coop-Group, to buy all of Stoffel Holding AG and indirectly obtaint 50.22 pct of the capital and 65.01 pct of the voting right of food producer Huegli Holding (notified Jan. 16/ deadline Feb. 20/ simplified)

— Macquarie Super Core Infrastructure Fund and Allianz Infrastructure Luxembourg to jointly acquire Lakeside Network Investments, an investor in Finnish electricity and district heating networks (notified Jan. 16/ deadline Feb. 20/ simplified)

— Goldman Sachs and Riverstone Investment Group to jointly acquire Lucid Energy Group II, a provider of natural gas processing and gathering in the United States (notified Jan. 16/ deadline Feb. 20/ simplified)

FEB 21

— U.S. car parts supplier Key Safety Systems, which is a unit of China’s Ningbo Joyson Electronic Corp, to acquire Japanese car parts maker Takata Corp (notified Jan. 17/deadline Feb. 21)

FEB 22

— Czech energy utility EPH to acquire a stake in power plant Matrai Eromu (notified Jan. 18/deadline Feb. 22/simplified)

— Aerospace and defence group Northrop Grumman to buy launch vehicle maker Orbital ATK (notified Jan. 18/ deadline Feb. 22/ simplified)

— Spanish insurer Mapfre to promote renewal of guarantee insurance policies in Spain through joint venture with France’s Euler Hermes (notified Jan. 18/ deadline Feb. 22/ simplified)

MARCH 5

— German industrial group Bayer to acquire U.S. seeds company Monsanto (notified June 30/deadline March 5)

MARCH 22

— Italian eyewear maker Luxottica and French lens manufacturer Essilor to merge (notified Aug. 22/deadline extended to March 22 from March 8)

MARCH 26

— U.S. specialty material company Celanese and private equity firm Blackstone to combine their cellulose acetate tow units under a new joint venture (notified Sept. 9/deadline extended to March 26 from March 19)

APRIL 4

— Luxembourg-based steelmaker ArcelorMittal to acquire Italian steel plant (notified Sept. 21/deadline extended to April 4 from March 23 after the companies asked for more time)

MAY 30

— South African chemicals company Tronox to acquire the titanium dioxide business of Cristal, a subsidiary of Saudi Arabia’s Tasnee (notified Nov. 15/deadline extended to May 30 from mAY 15)

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. (Reporting by Foo Yun Chee)

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