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EU mergers and takeovers (July 3)
July 3, 2009 / 3:43 PM / 8 years ago

EU mergers and takeovers (July 3)

BRUSSELS, July 3 (Reuters) - The following are planned mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS:

-- U.S. firm Safran USA, controlled by French aerospace company Safran SA (SAF.PA), to acquire joint control of U.S. detection products company General Electric Homeland Protection, currently controlled by U.S. company General Electric (GE.N) (approved)

NEW LISTINGS:

-- U.S. private equity firm Platinum Equity LLC to acquire control of parts of bankrupt U.S. auto components maker Delphi Corp DPHIQ.PK (notified June 30/deadline Aug. 5)

EXTENSIONS AND OTHER CHANGES:

None

FIRST-STAGE REVIEWS BY DEADLINE:

JULY 7

-- Luxembourg-based steelmaker ArcelorMittal ISPA.AS to acquire sole control of Noble European Holdings BV, a Dutch subsidiary of U.S. tailor-welded blanks maker Noble International Ltd NOBLQ.PK (notified June 2/deadline July 7)

JULY 8

-- UK oil and gas company BP (BP.L) and U.S. chemical products company Dupont DD.N to acquire joint control of U.S. company Biobutanol LLC, which develops and licenses technology related to the commercial production of biobutanol (notified June 3/deadline July 8)

-- German healthcare and pharmaceutical group Celesio AG CLSGn.DE, controlled by Franz Haniel & Cie GmbH, to take sole control of Pharmexx GmbH, which provides temporary employment services to pharmaceutical companies (notified June 3/deadline July 8/simplified)

JULY 9

-- British leisure travel company TUI Travel Holdings TT.L and Cypriot diversified asset holding company Oscrivia Ltd acquire joint control of leisure travel firms Voyage Kiev of Ukraine and VKO Moscow of Russia (notified June 4/deadline July 9/simplified)

-- Britain’s Barclays Bank Plc (BARC.L) and Royal Bank of Scotland Group Plc (RBS.L) acquire joint control of Hillary S.a.r.l, a Luxembourg provider of medical assistance services that indirectly controls Spain’s USP Hospitales S.L.U, a provider of similar services (notified June 4/deadline July 9/changed from simplified to non-simplified on July 2)

JULY 13

-- French asset management company BNP Paribas Investment Partners SA, belonging to BNP Paribas (BNPP.PA), and peer Credit Agricole Asset Management Luxembourg SA (CAAM), belonging to Credit Agricole (CAGR.PA), acquire joint control of Luxembourg’s Fund Channel, a logistic platform for distribution of UCITS products that was previously owned exclusively by CAAM (notified June 8/deadline July 13/simplified)

JULY 15

-- German energy supplier Energie Baden-Wuerttemberg AG (EnBW) (EBKG.DE) and Turkish conglomerate Borusan Holding take joint control of electricity producer Borusan Enerji, currently controlled solely by Borusan Holding (notified June 10/deadline July 15/simplified)

JULY 17

-- German Bosch Thermotechnik GmbH, controlled by industrial conglomerate Robert Bosch GmbH [ROBG.UL], acquires Loos Deutschland GmbH, a family-owned supplier of commercial and industrial boiler systems (notified June 12/deadline July 17)

-- Kazakh oil company Cooperatieve KazMunaiGaz PKI U.A., controlled by Kazakh national oil and gas company JSC National Company KazMunaiGaz RDGZ.KZ; and Austria’s Euraisian Energy Holdings GmbH, controlled by China’s largest oil and gas producer, China National Petroleum Corp (CNPC) [CNPET.UL], to take joint control of Kazakh oil and gas company JSC Mangistaumunaigaz (notified June 12/deadline July 17/simplified)

-- Dutch electronics manufacturer Philips (PHG.AS) to acquire sole control of Italian espresso machine maker Saeco International Group S.p.A (notified June 12/deadline July 17/simplified)

JULY 20

-- British drugmaker GlaxoSmithKline PLC (GSK.L) to acquire U.S. skincare company Stiefel Laboratories Inc (notified June 15/deadline July 20)

-- U.S. biomedical and pharmaceutical company Pfizer (PFE.N) to acquire U.S. pharmaceutical and healthcare company Wyeth WYE.N (notified May 29/deadline July 6/extended on June 30/new deadline July 20)

JULY 24

-- Spanish renewable energy and construction firm Acciona Energia Internacional S.A.U., belonging to conglomerate Acciona Group (ANA.MC), and Japanese trading house Mitsubishi Corp (8058.T) acquire joint control of Amper Central Solar SA, a Portuguese wholesale supplier of electricity (notified June 18/deadline July 24/simplified)

JULY 27

-- Italian transport and logistics company BLG Automobile Logistics Italia, belonging to the German BLG Logistics Group; and Belgian car terminal operator International Car Operators (Benelux) NV, belonging to Japan’s NYK Group (9101.T), acquire joint control of Italian venture ICO BLG Automobile Logistics Italia, which operates a car terminal in the port of Gioia Tauro (notified June 19/deadline July 27/simplified)

JULY 28

-- Dutch private equity firm Fortis Private Equity, a subsidiary of Fortis Bank Nederland (Holding) NV [FORTH.UL], to acquire sole control of Kuiken NV, a Dutch holding group active in the distribution of heavy equipment (notified June 23/deadline July 28/simplified)

JULY 29

-- Italian mutual investment fund F2i Fondi Italiani per le Infrastrutture SGR SpA and Luxembourg private equity fund Finavias Sarl, indirectly owned by French insurer AXA Group (AXAF.PA), acquire joint control of the majority shareholding of Italian gas distributor Enel Rete Gas SpA (notified June 23/deadline July 29/simplified)

-- Italian automaker Fiat SpA FIA.MI to acquire U.S. counterpart Chrysler LLC [CBS.UL] (notified June 23/deadline July 29)

JULY 30

-- France’s Veolia Eau, a subsidiary of utility group Veolia Environnement (VIE.PA), takes sole control of three French water distribution companies currently controlled jointly by Veolia Eau and Lyonnaise des Eaux, a subsidiary of French energy giant GDF Suez GSZ.PA unit Suez Environnement (notified June 23/deadline July 30)

JULY 31

-- Dutch holding company SHV Holdings NV [SHVHD.UL], involved in energy, consumer goods and private equity, acquires control of Eriks NV ERKNc.AS, a Dutch holding company whose operations include the distribution of mechanical engineering components (notified June 25/deadline July 31/simplified)

SECOND-STAGE REVIEWS BY DEADLINE:

NOV 6

-- German carrier Deutsche Lufthansa AG (LHAG.DE) seeks to acquire counterpart Austrian Airlines AUAV.VI (notified May 8/ deadline June 17/extended on June 11/new deadline July 1/in-depth probe opened on July 1/new deadline Nov. 6)

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 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.

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