January 24, 2018 / 4:50 PM / a month ago

EU mergers and takeovers (Jan 24)

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

APPROVALS AND WITHDRAWALS

-- Packaging manufacturer S.A. Industrias Celulosa Aragonesa (SAICA) to acquire peer Emin Leydier (approved Jan. 23)

NEW LISTINGS

-- Anglo-Dutch oil group Royal Dutch Shell plc to acquire retail energy supplier Impello Limited (notified Jan. 22/deadline Feb. 26/simplified)

EXTENSIONS AND OTHER CHANGES

None

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)

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)

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. (Reporting 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