January 17, 2019 / 1:07 PM / 9 months ago

EU mergers and takeovers (Jan 17)

BRUSSELS, Jan 17 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

None

NEW LISTINGS

None

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

JAN 23

— 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)

JAN 31

— 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)

FEB 1

— 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)

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 4

— German carmaker Daimler DAIGn.DE to acquire a stake in used-car portal Heycar from rival Volkswagen VOWG_p.DE (notified Dec. 19/deadline Feb. 4/simplified)

— Chemicals distributor Univar to acquire plastics distributor Nexeo (notified Dec. 19/deadline Feb. 4/simplified)

FEB 5

— Japan’s Denso corp and Aisin Seiki to create joint venture in powertrains for electric and hybrid vehicles (notified Dec. 20/deadline Feb. 5/simplified)

—Etem Belgium and Gestamp North Europe Services create two joint ventures (notified Dec. 20/deadline Feb. 5/simplified)

FEB 6

— France’s EPIC SNCF Gares & Connexions and Ceetrus pursue joint venture to create new company SEMOP (notified Dec. 21/deadline Feb. 6/simplified)

— CVC Capital Partners to acquire installation company Ahlsell AB (notified Dec. 21/deadline Feb. 6/simplified)

— French sea transportation company CMA CGM to acquire sole control over Swiss freight forwarding and logistics company CEVA (notified Dec. 21/deadline Feb. 6/simplified)

— Global real estate investor Ivanhoe Cambridge to acquire joint control with Australia’s Macquarie of U.S.-based RHP Platform and RHP Manager (notified Dec. 21/deadline Feb. 6/simplified)

— China’s Fosun to obtain passively de facto control of German fashion company Tom Tailor (notified Dec. 21/deadline Feb. 6/simplified)

FEB 11

— French financial services group Société Générale to acquire sole control over Germany’s Commerzebank’s “Equity Markets & Commodities” business (notified Jan. 7/deadline Feb. 11)

FEB 12

— Paris-based Air France-KLM to acquire stake and joint control with U.S. Delta Air Lines and Virgin Group of U.K.-based Virgin Atlantic Limited and Air France, KLM, Delta and Virgin Atlantic will combine transatlantic joint ventures (notified Jan. 8/deadline Feb. 12)

— Japanese trading and investing company Sumitomo Corp. to acquire joint control of Mahindra Summit Agriscience Ltd. with original sole owner Mahindra Agri Solutions Ltd. (notified Jan. 8/deadline Feb. 12/simplified)

FEB 13

— Singapore’s Sivantos and Denmark’s Widex to create a hearing aid and hearing accessory manufacturing and supply joint venture (notified Jan. 9/deadline Feb. 13)

— IRCP and Diamond Transmission Corporation Ltd. to have joint control of joint venture Diamond Transmission Partners (notified Jan. 9/deadline Feb. 13/simplified)

— Swedish shipping company Stena Rederi to create short-sea transport services joint venture with German logistics company Glovis Europe (notified Jan. 9/deadline Feb. 13/simplified)

— Japan’s JERA, Australia’s Macquarie, Ørsted and Taiwanese Swancor to jointly control holding company Formosa 1 to develop and construct an offshore windfarm in Taiwan (notified Jan. 9/deadline Feb. 13/simplified)

FEB 14

— Investment manager Infrared, Allianz and independent fund management company DIF to acquire joint control over holding company Daiwater Investment Ltd. (notified Jan. 10/deadline Feb. 14/simplified)

— OMERS Infrastructure and communications company Altice France to acquire joint control over French fiber network business SFR FTTH (notified Jan. 10/deadline Feb. 14/simplified)

FEB 15

— Ontario Teachers’ Pension Plan Board and Madison Dearborn Partners, LLC to acquire joint control over mobile-tracking technology firm Fleet Complete (notified Jan. 11/deadline Feb. 15/simplified)

— Italy’s Società Cattolica di Assicurazione – Società cooperativa and France’s Inter Mutelles Assistance S.A. to acquire joint control over Italian non-life insurance and non-life reinsurance company IMA Italia Assistance S.p.A. and IMA Servizi S.c. a r.l. (notified Jan. 11/deadline Feb. 15/simplified

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)

— Korea’s climate control systems company Hanon to acquire part of Magna’s cooling and pump technology company Rotor (notified Jan. 14/deadline Feb. 18/simplified)

— U.S.-established Ares Management Corp. and energy company Electricité de France SA to acquire joint control over a Duesseldorf office complex owned by an IKB AG subsidiary (notified Jan. 14/deadline Feb. 18/simplified)

— Triton to acquire sole control of online tour operator Sunweb (notified Jan. 14/deadline Feb. 18/simplified)

FEB 19

— Japanese technology group NEC to acquire sole control of Danish IT company KMD Holding (notified Jan. 15/deadline Feb. 19/simplified)

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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