July 9, 2018 / 7:49 PM / 2 months ago

EU mergers and takeovers (July 9)

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

APPROVALS AND WITHDRAWALS

— T-Mobile Austria, which is a unit of German telecoms company Deutsche Telekom, to acquire UPC Austria, which is a subsidiary of cable operator UPC (approved July 9)

— Japanese trading company Mitsui & Co and Japanese chemicals Kansai Paint Co Ltd to set up a joint venture (approved July 6)

— Investment company Pimco and Polish property developer Echo Investment S.A. to set up a joint venture (approved July 6)

— U.S. private equity firms HPS Investment Partners and Madison Dearborn Partners to acquire joint control of British healthcare provider Heath and Protection Solutions Ltd (approved July 6)

— Japanese property developer MEC to acquire joint control of Sime Darby MIT Development Sdn Bhd, which is a joint venture by Japanese trading house Mitsui and Sime Darby Property Sungai Kapar (approved July 6)

— Italian motorway operator Atlantia and German builder ACS Hochtief to jointly acquire Spanish construction company Abertis Infraestructuras (approved July 6)

— Private equity firm Silver Lake to acquire British company ZPG, the owner of real estate website Zoopla (approved July 6)

— Dutch offshore wind farm companies Otary, Eneco Wind Belgium and Belgian electricity utility Electrabel to set up a joint venture (approved July 6)

— Private equity firm Advent International to acquire generics drugmaker Zentiva from French healthcare group Sanofi (approved July 5)

— South African chemicals company Tronox to acquire the titanium dioxide business of Cristal, a subsidiary of Saudi Arabia’s Tasnee (approved July 4)

— German mail order company Kaiser+Kraft and German tool maker Hoffmann to acquire joint control of Germany company Simple System GmbH & Co KG (approved July 3)

— Private equity firm Apollo Management to acquire Belgian insurer Generali Belgium (approved July 3)

— Chinese private equity firm China Jianyin Investment Limited and investment company Tamar Alliance Health Limited to jointly acquire Australian healthcare company Australia Nature’s Care Biotech (approved July 3)

— Private equity firm Partners Group and the Canada Pension Plan Investment Board to have joint control of U.S.software company GlobalLogic which is now jointly controlled by CPPIB and private equity firm Apax Partners (approved July 2)

— French energy company Total directo acquire French power utility Direct Energie (approved July 2)

— Israeli drugmaker Teva to acquire sole control of part of U.S. consumer products maker Procter & Gamble’s OTC business in which it currently has a minority stake (approved June 29)

— British investment company Intermediate Capital Group to acquire German fire extinguisher maker Minimax Viking (approved June 28)

NEW LISTINGS

— Fertiliser company Uralchem to acquire sole control of Russian potash producer Uralkali (notified July 6/deadline Aug. 10/simplified)

— French consumer credit provider CA Consumer Finance S.A. and Spanish bank Bankia to set up a joint venture (notified July 5/deadline Aug. 9/simplified)

— Japan’s Sumitomo Corp and Belgian wind farm developer Parkwind to jointly acquire Belgian wind farm operator Northwester2 (notified July 5/deadline Aug. 9/simplified)

— Singapore state-owned property developer GIC Group and real estate developers Frasers Property Ltd JustGroup to set up a joint venture (notified July 4/deadline Aug. 8/simplified)

— Private equity firm Bain Capital to acquire German tyre company Reifen Krieg Group (notified July 4/deadline Aug. 8/simplified)

— Algerian state-owned oil and gas company Sonatrach to acquire an Italian refinery from Exxon Mobil (notified July 3/deadline Aug. 7/simplified)

— U.S. powertrain technology company Tenneco to acquire car parts maker Federal Mogul (notified July 3/deadline Aug. 7)

— Swiss logistics company Kuehner+Nagel and Singapore state-owned investment company Temasek to set up a joint venture (notified June 29/deadline Aug. 3/simplified)

— French insurer Axa to acquire German peer Roland (notified June 29/deadline Aug. 3/simplified)

— Italian car rental company Eurocar, which is a unit of German carmaker Volkswagen eurocar, to acquire sole control of Italian peer Bonaldi (notified June 28/deadline Aug. 2)

— U.S. house appliances maker Whirlpool and Italian cooker hood maker Elica to jointly acquire Indian electrical appliances company Elica PB India (notified June 25/deadline July 30/simplified)

— German DIY retail chains Raiffeisen Ware Austria AG and ZG Raiffeisen to set up a joint venture (notified June 26/deadline July 31/simplified)

— Metals and commodities company Liberty House Group to acquire French aluminium smelter Aluminium Dunkerque from Rio Tinto (notified June 26/deadline July 31/simplified)

— Spanish fashion and cosmetics maker PUIG and German electrical appliances maker Bosch Group’s unit BSH to jointly acquire Spanish perfume maker Noustique (notified June 26/deadline July 31/simplified)

— U.S. private equity firm Lindsay Goldberg to acquire German plastic product maker Coveris Rigid (notified June 25/deadline July 30/simplified)

EXTENSIONS AND OTHER CHANGES

— Copper company KME, which is part of Intek Group, to acquire German peer MKM Mansfelder Kupfer and Messing GmbH (notified June 4/deadline extended to July 23 from July 9 after the companies provided concessions)

— U.S. planemaker Boeing and French aerospace company Safran to set up a joint venture to make and service aircraft auxiliary power units (notified June 5/deadline July 10/simplified/withdrawn June 25)

FIRST-STAGE REVIEWS BY DEADLINE

JULY 12

— Irish carrier Ryanair to acquire Austrian peer Laudamotion (notified June 7/deadline July 12)

JULY 13

— Business travel services company Global Business Travel Holdings Ltd, which is jointly controlled by American Express Co and Qatar Holding, to acquire UK peer Hogg Robinson Group Plc (notified June 8/deadline July 13)

— Italian company Snam to acquire Greek gas grid operator DESFA (notified June 8/July 13/simplified)

— Siemens and Alstom to merge their railway operations (notified June 8/deadline July 13)

JULY 16

— Irish fresh food producer Total Produce to acquire a 45-percent stake in U.S. peer Dole Food Company (notified June 11/deadline July 16)

JULY 18

— French telecoms and construction company Bouygues to acquire German construction and industrial services companies Alpiq Inteq and Kraftanlagen Muenchen (notified June 13/deadline July 18/simplified)

— German copper products maker Wieland-Werke to acquire German copper smelter Aurubis’ flat rolled products unit Products Schwermetall (notified June 13/deadline July 18)

— South Korean consumer electronics company LG Electronics to acquire Austrian car light maker ZKW Holding GmbH (notified June 13/deadline July 18/simplified)

July 20

— Private equity firm Blackstone to acquire a majority stake in Thomson Reuters’ Financial and Risk (F&R) unit (notified June 15/deadline July 20)

— Private equity firm Cinven to acquire pet food company Partner in Pet Foods Holdings (notified June 15/deadline July 20/simplified)

— Finnish biofuel company Neste to acquire a majority stake in Dutch animal fat trader Demeter Animal Fats and Proteins (notified June 15/deadline July 20)

JULY 23

— Private equity firm H.I.G. Capital to acquire petrochemicals company INEOS’ Baleycourt business and ICT business (notified June 18/deadline July 23/simplified)

— French aerospace and defence group Thales to acquire Franco-Dutch chipmaker Gemalto (notified June 18/deadline July 23)

— Dutch car parts maker Samvardhana Motherson Automotive Systems to acquire Dutch peer Reydel Automotive (notified June 18/deadline July 23/simplified)

JULY 25

— French private equity firm PAI Partners to acquire UK industrial services provider M Group Services (notified June 20/deadline July 25/simplified)

— Private equity firm CVC Capital Partners to acquire healthcare provider Mehlaeinen Holding (notified June 20/deadline July 25/simplified)

— German construction products maker Knauf International to acquire U.S. peer Armstrong World Industries’ EMEA and Pacific Rim businesses (notified June 20/deadline July 25)

JULY 27

— German company Oetker Group to acquire a majority stake in Spanish sparkling wine producer Freixenet (notified June 22/deadline July 27)

— Swiss asset manager Partners Group Holding to acquire German metering company Techem from Macquarie (notified June 22/deadline July 27/simplified)

— Czech investment group PPF Group to acquire Norwegian telecoms provider Telenor’s central European businesses (notified June 22/deadline July 27)

— Macquarie Group and Goldman Sachs to jointly acquire Dutch terminal operator HES International (notified June 22/deadline July 27)

AUG 24

— German industrial gases group Linde to merge with U.S. peer Praxair (notified Jan. 12/ deadline extended to Aug. 24)

SEPT 4

— iPhone maker Apple to acquire UK music streaming service Shazam (notified March 14/deadline extended to Sept. 4 from April 23 after the European Commission opened an in-depth investigation)

OCT 31

— German company BASF to acquire Belgian chemicals company Solvay’s worldwide polyamide business (notified May 22/deadline extended to Oct. 31 from June 26 after the European Commission opened an in-depth investigation)

NOV 9

— Deutsche Telekom to acquire Swedish peer Tele2’s Dutch unit and merge it with its Dutch business T-Mobile Nederland (notified May 2/deadline extended to Nov. 9 from Oct. 17)

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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