September 4, 2015 / 2:10 PM / 2 years ago

EU mergers and takeovers (Sept 4)

BRUSSELS, Sept 4 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- -- Buyout group KKR to acquire majority stake in German fibre-optic network operator Deutsche Glasfaser (approved Sept 4)

NEW LISTINGS

None

EXTENSIONS AND OTHER CHANGES

FIRST-STAGE REVIEWS BY DEADLINE

SEPT 9

-- U.S. grain trader Archer Daniel Midland to acquire Belgian vegetable oil distributor AOR NV (notified Aug. 5/deadline Sept. 9)

SEPT 11

-- U.S. conglomerate General Electric to acquire most of French engineering group Alstom’s power equipment business (notified Jan. 19/deadline extended for third time to Sept. 11 from Aug. 21)

SEPT 14

-- Singapore-listed palm oil processor Wilmar International and Italian oil products company Fox Petrolifera Italiana SpA to set up a joint venture (notified Aug. 10/deadline Sept. 14/simplified)

-- BPIFrance and Springwater Capital LLC to acquire joint control of French paper producer Delion France (notified Aug. 10/deadline Sept. 14/simplified)

-- Naxicap Partners and Fonds Avenir Automobile to acquire joint control of French car parts maker Defta Group (notified Aug. 10/deadline Sept. 14/simplified)

SEPT 16

-- Private equity firm CVC Capital Partners to acquire energy company PKP Energetyka (notified Aug. 12/deadline Sept. 16/simplified)

-- Private equity firms Advent International, Bain Capital and Clessidra to jointly acquire Italian banking services company ICBPI (notified Aug. 12/deadline Sept. 16)

-- Chinese state-owned food firms Bright Food Group Co Ltd to acquire Spanish holding company Invermik SA (notified Aug. 12/deadline Sept. 16/simplified)

SEPT 17

-- Kuwait Investment Authority (KIA) and Spanish energy group Gas Natural to acquire joint control of Global Power Generation (notified Aug. 13/deadline Sept. 17/simplified)

-- Buyout group KKR to acquire German cutlery and coffee-machine maker WMF together with Austrian holding company FIBA (notified Aug.13/deadline Sept. 17)

SEPT 18

-- U.S. distressed investment fund Apollo to acquire majority stake in steel trader Stemcor (notified Aug. 14/deadline Sept. 18/simplified)

-- Japanese insurer Tokio Marine Holdings Inc to buy U.S. specialty insurer HCC Insurance Holdings Inc (notified Aug. 14/deadline Sept. 18/simplified)

-- Groupe Acticall to acquire customer relationship management company Sitel (notified Aug. 14/deadline Sept. 18/simplified)

-- Dutch chipmaker NXP to acquire U.S. peer Freescale (notified July 31, deadline extended to Sept. 18 from Sept. 4 after NXP offered concessions)

SEPT 21

-- Pfizer to acquire British drugmaker GlaxoSmithKline’s menACWY meningitis vaccine business (notified Aug. 17/deadline Sept. 21)

-- Cable telecoms company Liberty Global’s Belgian subsidiary Telenet to buy mobile network operator Base from Dutch group KPN (notified Aug. 17/deadline Sept. 21)

-- European private equity group Cinven to buy majority stake in German laboratory operator Synlab from BC Partners (notified Aug. 17/deadline Sept. 21/simplified)

SEPT 23

-- Indian vehicle maker Mahindra & Mahindra and Japan’s Mitsubishi Heavy Industries to acquire joint control of Mitsubishi Agricultural Machinery Co. Ltd, which is now solely owned by Mitsubishi Heavy Industeis (notified Aug. 19/deadline Sept. 23/simplified)

SEPT 24

-- British private equity firm Equistone Partners Europe to acquire German apparel retailer TriStyle Mode (notified Aug. 20/deadline Sep. 24/simplified)

SEPT 25

-- U.S. office supplier Staples to acquire U.S. rival Office Depot (notified Aug. 21/deadline Sept. 25)

-- Chinese investment group Fosun to acquire sole control of wealth management group BHF-Kleinwort Benson Group SA (notified Aug. 21/deadline Sept. 25/simplified)

SEPT 28

-- Apollo Global Management LLC to acquire magnetic and battery technologies company OM Group Inc (notified Aug. 24/deadline Sept. 28)

SEPT 30

-- Brazilian meat packer JBS SA to acquire British company Moy Park, which is a unit of Brzilian rival Marfrig Global Foods SA (notified Aug. 26/deadline Sept. 30/simplified)

OCT 1

-- Australian packaging products supplier Amcor and Swiss-based company Sidel, which is part of Swiss-based packager Tetra Laval, to set up a joint venture (notified Aug. 27/deadline Oct. 1/simplified)

-- South African company Barloworld Handling and German farming products supplier BayWa to set up a joint venture in Zambia (notified Aug. 27/deadline Oct. 1/simplified)

OCT 2

-- Spanish builder Sacyr to acquire a 50 percent stake in Fluor Spain from U.S. engineering group Fluor Corp (notified Aug. 28/deadline Oct. 2/simplified)

OCT 7

-- Norwegian telecoms company Telenor and Swedish peer TeliaSonera to combine their Danish mobile businesses (notified Feb. 27/deadline extended to Oct. 7 from Sept. 16 after the companies offered commitments)

DEC 9

-- U.S. drinks can maker Ball Corp to acquire British rival Rexam Plc (notified June 15/deadline extended to Dec. 9 from Nov. 25)

JAN 13

-- U.S. packages delivery company FedEx to acquire Dutch peer TNT (notified July /deadline extended to Jan. 13 from Dec. 8 after the companies asked for more time)

JAN 18

-- South African paper maker Mondi to acquire some assets from portfolio company Walki (notified July 29/deadline extended to Jan. 18 from Sept. 2 after the European Commission opened an in-depth investigation)

SUSPENDED

-- Oilfield services provider Halliburton to buy rival Baker Hughes in a stock and cash transaction (notified July 23/deadline suspended after the companies provided insufficient information)

-- SOCAR, Azerbaijan’s state energy company, to buy stakes in Greek natural gas grid operator DESFA from Greek natural gas utility DEPA (notified Oct. 1/deadline suspended on Jan. 21)

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. (Compiled by Foo Yun Chee)

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