EU mergers and takeovers (April 14)
14/04/2015 11:34
BRUSSELS, April 14 (Reuters) - The following are mergers
under review by the European Commission and a brief guide to the
EU merger process:
APPROVALS AND WITHDRAWALS
-- Creation of a joint venture by Germany's Bilfinger
GBFG.DE and Austria's G.L. Swarovksi to distribute single use
medical and care products to hospitals, nursing care facilities
and private individuals in Germany, Austria and Switzerland.
(approved April 13)
NEW LISTINGS
-- Japanese printing manufacturer Brother Industries
6448.T to acquire British barcode printer Domino Printing
Sciences DOPR.L for about 1.03 billion pounds in
cash.(notified April 13/deadline May 21/simplified)
-- Canadian infrastructure investor Borealis Siegfried
Holdings to acquire indirect sole control of Swedish electricity
distribution system operator Fortum Distribution AB, a unit of
Fortum Oyj FUM1V.HE for about 6.6 billion euros. (notified
April 9/deadline May 19/simplified)
-- Heinz Herrman Thiele, the owner of Knorr Bremwse
STELLG.UL , plans to buy rail technology provider Vossloh
VOSG.DE , although offer is below the market price. (notified
April 9/deadline May 21)
EXTENSIONS AND OTHER CHANGES
FIRST-STAGE REVIEWS BY DEADLINE
APRIL 20
-- Finnish ship engine and power plant maker Wartsila
WRT1V.HE to buy navigation systems maker L-3 Marine Systems
from L-3 Holding LLL.N (notified March 11/deadline April
20/simplified)
-- Telecoms group Altice ATCE.AS to acquire Brazilian peer
Grupo Oi's OIBR3.SA Portuguese assets (notified Feb.
25/deadline April 20/concessions offered April 20/Portuguese
competition authority asked to review the case on March 5)
APRIL 21
-- Private equity firms Ardian France and F2i SGR to acquire
joint control of investor F2i Aeroporti which holds stakes in
companies operating at Italian airports (notified March
12/deadline April 21)
APRIL 23
-- German industrial services group Bilfinger GBFG.DE and
merchandising and management services provider Papstar Holding
AG to set up a joint venture (notified March 16/deadline April
23/simplified)
APRIL 27
-- U.S. bank Goldman Sachs GS.N and French property
developer Altarea IMAF.PA to jointly acquire French holding
company Pascal Defense S.A.R.L. (notified March 18/deadline
April 27/simplified)
-- Irish cement firm CRH CRH.I to buy assets from merging
companies Lafarge LAFP.PA and Holcim HOLN.VX (notified March
18/deadline April 27)
APRIL 28
-- Canadian public pension fund Caisse de Depot du Placement
du Quebec and British asset manager Hermes to acquire 40 percent
of British high-speed rail Eurostar International Ltd, which is
55 percent owned by French rail operator SNCF Mobilities
(notified March 19/deadline April 28)
APRIL 29
-- Austrian property developer CA Immo CAIV.VI to acquire
control of Austrian peer Immofinanz IMFI.VI (notified March
20/deadline April 29/simplified)
APRIL 30
-- German agricultural products distributor Baywa
BYWGnx.DE , German electric heating producer GlenDimplex and
German energy software developer Greencom to acquire shares in
energy services provider BEEGY GmbH (notified March 23/deadline
April 30/simplified)
MAY 5
-- Qatari-backed investor Constellation Hotels to acquire
InterContinental Hotels Group's IHG.L flagship Le Grand hotel
in Paris (notified March 25/deadline May 5/simplified)
-- U.S. conglomerate Berkshire Hathaway BRKa.N to acquire
German motorcycle apparel and accessories retailer Detlev Louis
Motrorrad-Vertriebs GmbH (notified March 25/deadline May
5/simplified)
MAY 7
-- MI Fashion Ltd and L Capital Asia 2 Pte Ltd to acquire
joint control of clothing retailer Pepe Jeans Group (notified
March 27/deadline May 7/simplified)
MAY 8
-- U.S. investment firm Starwood Capital Group and Spanish
hotel chain Melia Hotels International to acquire joint control
of six hotels in Spain (notified March 30/deadline May
8/simplified)
MAY 11
-- Japanese electronics group Hitachi 6501.T to acquire
Italian train maker AnsaldoBreda and its rail-signalling company
Ansaldo STS STS.MI from Italian aerospace and defence group
Finmeccanica SIFI.MI (notified March 31/deadline May
11/simplified)
MAY 12
-- French seismic survey group CGG GEPH.PA and British
energy consultancy Wood MacKenzie to set up a joint venture
(notified April 1/deadline May 12/simplified)
-- Investment fund Apollo Management APOLO.UL to acquire
German mail order and Internet retailer Walz Group (notified
April 1/deadline May 12/simplified)
-- Japan's Mitsui Chemicals 4183.T and South Korean
conglomerate SK Holdings 003600.KS to set up a joint venture
(notified April 1/deadline May 12/simplified)
-- French equity firm Ardian to acquire a 65-percent stake
in Spanish toll-road operator Tunels, which is 35-percent
controlled by Spanish toll-road operator Abertis SA ABE.MC
(notified April 1/deadline May 12)
MAY 13
-- Czech energy group Energeticky a Prumyslovy Holding (EPH)
to acquire some Italian coal and gas businesses from German
utility E.ON EONGn.DE (notified April 7/deadline May
13/simplified)
-- Spanish lender Caixabank CABK.MC to acquire control of
Portuguese bank Banco BPI BBPI.LS (notified April 7/deadline
May 13/simplified)
MAY 18
-- Predica Prevoyance and investment fund Omnes Capital to
jointly acquire wind farms (notified April 8/deadline May
18/simplified)
-- Canadian property and casualty insurer Fairfax Financial
Holdings FFH.TO to acquire British specialty insurer Brit Plc
BRIT.L (notified April 8/deadline May 18/simplified)
MAY 19
-- Investment fund Bain Capital Investors to acquire auto
fluids maker TI Fluid Systems (notified April 9/deadline May
19/simplified)
JUNE 1
-- French telecoms operator Orange ORAN.PA to acquire
Spanish provider Jazztel JAZ.MC (notified Oct. 16/new deadline
June 1 after Commission lifts deadline suspension)
-- Mondelez International Inc MDLZ.O and competitor D.E
Master Blenders DEMBF.PK to merge their coffee businesses in
new company called Jacobs Douwe Egberts (notified Oct.
27/deadline extended for the fourth time to June 1 from May 13)
JUNE 26
-- PRS for Music Ltd (PRSfM), Foreningen Svenska Tonsattares
Internationella Mysikbyra (Stim) and Gesellschaft für
musikalische Aufführungs- und mechanische
Vervielfältigungsrechte (Gema) to set up a joint venture to
administer mechanical and performing rights (notified Nov.
28/deadline June 26/companies offer commitments on March 13)
JULY 23
-- Commodities trader Cargill CARG.UL to buy rival Archer
Daniels Midland Co's ADM.N global chocolate business (notified
Jan. 19/deadline extended to July 23 from July 8 after the
companies asked for more time)
JULY 24
-- German conglomerate Siemens SIEGn.DE to purchase U.S.
oilfield equipment maker Dresser-Rand Group Inc DRC.N
(notified Jan. 9/deadline July 24)
AUG 6
-- U.S. conglomerate General Electric GE.N to acquire most
of French engineering group Alstom's ALSO.PA power equipment
business (notified Jan. 19/deadline extended for the second time
to Aug. 6 from July 8 after GE asked for more time)
SEPT 2
-- Norwegian telecoms company Telenor TEL.OL and Swedish
peer TeliaSonera TLSN.ST to combine their Danish mobile
businesses (notified Feb. 27/deadline extended to Sept. 2 from
Aug. 19 after the companies asked for more time)
SUSPENDED
-- 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)
((Brussels newsroom; +32 2 287 68 30;
brussels.newsroom@thomsonreuters.com))
Keywords: EU MERGERS/