December 19, 2018 / 4:47 PM / a month ago

EU mergers and takeovers (Dec 19)

BRUSSELS, Dec 19 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

— Private investment manager Apollo Management to acquire Bermuda insurance company Aspen Insurance Holdings Limited (approved Dec. 18)

NEW LISTINGS

— Private equity firm Blackstone to acquire a majority stake in Baltic bank Luminor from Swedish bank Nordea and Norwegian lender DNB (notified Dec. 18/deadline Feb. 1/simplified)

— United Arab Emirates-based Mubadala Investment Company and Amerra Capital Management LLC to jointly acquire majority stakes in Greek fish farming companies Nireus and Selonda (notified Dec. 18/deadline Feb. 1)

— Australian engineering services provider Worleyparsons to acquire U.S. peer Jacobs Engineering Group Inc’s energy, chemicals and resources business (notified Dec. 17/deadline Jan. 31/simplified)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

DEC 21

— Investment fund IFM Investors and commodities trader Vitol to jointly acquire oil products terminal operator VTTI, which is now jointly controlled by Vitol Holding BV and Buckeye Partners (notified Dec. 5/deadline Jan. 21/simplified)

— CP VII, a fund managed by global alternative asset manager Carlyle, to acquire risk management services provider Sedgwick (notified Nov. 16/deadline Dec. 21)

JAN 4

— U.S. soft drinks company Coca-Cola Co to acquire coffee chain Costa (notified Nov. 20/deadline Jan. 4)

JAN 9

— Autolaunch and Beijing Automotive Group subsidiary Beijing Electric Vehicle Co to set up a joint venture (notified Nov. 23/deadline Jan. 9/simplified)

JAN 10

— Turkish pension fund OYAK to acquire Portuguese cement producer Cimpor (notified Nov. 26/deadline Jan. 10/simplified)

— Qatari Diar Real Estate Investment Company Q.P.S.C., a subsidiary of the Qatar Investment Authority, will acquire joint control alongside DV4 Limited, Oxford Jersey Holding Company Limited and Stichting Depositary APG Strategic Real Estate Pool over an existing UK real estate undertaking (notified Nov. 26/deadline Jan. 10/simplified)

JAN 11

— Japanese trading company Sumitomo Corp and Japan’s Toyota Motor Corp to launch a Japanese full-function joint venture, MOBILOTS Corp, to supply financing for vehicles (notified Nov. 27/deadline Jan. 11/simplified)

— Japanese trading company Sumitomo Corp and Japanese Toyota Motor Corp to launch a Japanese full-function joint venture, KINTO Corp, to supply mobility services (notified Nov. 27/deadline Jan. 11/simplified)

— German drink producer and distributor Dr. August Oetker Finanzierungs- und Beteiligungs-GmbH to acquire 49 percent of German F & B - Food and Beverage Services GmbH, a subsidiary of Transgourmet Deutschland GmbH & Co. (notified Nov. 27/deadline Jan. 11/simplified)

JAN 15

— MML Capital Partners Fund VI GP Ltd to acquire joint control of Peggy Holdco Limited, a subsidiary of Australian funds management company Macquarie European Investment Holdings Limited (notified Nov. 29/deadline Jan. 15/simplified)

— A6 Invest 9 TF, acting on behalf of Astorg Asset Management, and Montagu Private Equity LLP to acquire joint control of plastic drug delivery systems manufacturer Nemera Capital and its subsidiaries (notified Nov. 29/deadline Jan. 15/simplified)

— French logistics services company Bollore Africa Logistics and Dutch operator of container terminals APM Terminals BV to acquire joint control of Ivory Coast container terminal constructor Cote d’Ivoire Terminal (notified Nov. 29/deadline Jan. 15/simplified)

JAN 18

— German industrial company Siemens and TRIL Urban Transport Private Limited to set up an Indian rail joint venture (notified Dec. 4/deadline Jan. 18/simplified)

— Private equity fund Equistone Partners Europe to acquire French sporting goods retailer Courir (notified Dec. 4/deadline Jan. 18/simplified)

— Swiss distributor of IT products and services SoftwareONE Holding to acquire sole control of German distributor of IT products and services COMPAREX AH (notified Dec. 4/deadline Jan. 18/simplified)

JAN 21

— Distributor of auto parts Digital Auto Parts, controlled by private equity investment firm Bain Capital investors, to acquire online retail auto parts distributor Oscaro Group (notified Dec. 5/deadline Jan. 21/simplified)

JAN 23

—Dutch financial services group NN Group and German insurer Allianz to jointly acquire eight property companies (notified Dec. 7/deadline Jan. 23/simplified)

— India’s UPL Corp to acquire U.S. chemicals maker Platform Specialty Products Corp’s agrochemicals business Arysta LifeScience (notified Dec. 7/deadline Jan. 23)

JAN 25

— German company BASF to acquire Belgian chemicals company Solvay’s worldwide polyamide business (notified May 22/deadline Jan. 25/concessions offered on Oct. 15)

JAN 28

— German car parts makers Aunde and Brose to set up a joint venture (notified Dec. 12/deadline Jan. 28/simplified)

JAN 29

— Agricultural merchant Cargill and grains trader Archer Daniel Midland to set up a joint venture (notified Dec. 13/deadline Jan. 29/simplified)

JAN 30

— Japanese holding company Mitsubishi UFJ Financial Group and U.S. tech company Akamai to set up a payment processing platform in Japan (notified Dec. 14/deadline Jan. 30/simplified)

— Canadian auto parts maker Magna International to acquire car transmissions systems maker Getrag Ford Transmissions Slovakia (notified Dec. 14/deadline Jan. 30/simplified)

FEB 2

— German copper products maker Wieland-Werke to acquire German copper smelter Aurubis’ flat rolled products unit Products Schwermetall (notified June 13/deadline extended to Feb. 2 from Jan. 17 after Wieland-Werke submitted concessions)

FEB 18

— Siemens and Alstom to merge their railway operations (notified June 8/deadline extended to Feb. 18 from Jan. 28 after the companies offered concessions)

MAR 26

—- Germany’s Thyssenkrupp and India’s Tata Steel to set up a steel joint venture (notified Sept. 25/deadline extended to March 26 from March 19 after the companies asked for more time)

APRIL 15

— Electronic and motor manufacturing company Nidec to acquire sole control of U.S. white goods maker Whirlpool Corp’s compressor subsidiary Embraco (notified Oct. 8/deadline extended to April 15 from Nov. 28 after the European Commission opened an in-depth investigation)

APRIL 16

— Steel company Aperam to acquire Netherlands producer of materials from nickel and nickel alloy VDM Metals Holding (notified Oct. 23/deadline extended to April 16 from Nov. 29 after the European Commission opened an in-depth investigation)

MAY 2

— UK mobile telephony provider Vodafone to acquire U.S. Liberty Global’s telecommunications business in the Czech Republic, Germany, Hungary and Romania (notified Oct. 19/deadline Nov. 27/deadline extended to May 2 after the European Commission opened an in-depth investigation)

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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