EU mergers and takeovers (May 11)
11/05/2015 11:58
BRUSSELS, May 11 (Reuters) - The following are mergers under
review by the European Commission and a brief guide to the EU
merger process:
APPROVALS AND WITHDRAWALS
-- 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. (approved May
11)
-- Predica Prevoyance and investment fund Omnes Capital to
jointly acquire wind farms (approved May 11)
-- 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.(approved May 11)
NEW LISTINGS
None
EXTENSIONS AND OTHER CHANGES
None
FIRST-STAGE REVIEWS BY DEADLINE
MAY 13
-- 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 extended to May 13 from April 28
after the companies offered concessions)
MAY 21
-- Heinz Herrman Thiele, the owner of Knorr Bremwse
STELLG.UL , to buy rail technology provider Vossloh VOSG.DE ,
(notified April 9/deadline May 21)
MAY 22
-- Luxembourg's Griffin Real Estate and U.S. investment fund
Pimco plan to raise their stake in Polish business space
developer Echo Investment ECH.WA to 66 percent (notified April
14/deadline May 22/simplified)
MAY 26
-- DS Smith Plc SMDS.L , a British maker of corrugated
cardboard, recycled paper and plastic packaging, to buy
Vienna-based packaging business Duropack (notified April
15/deadline May 26)
MAY 27
-- Private equity firm 3i Group III.L and German fuel
storage services provider Oiltanking GmbH to jointly acquire
Oiltanking Ghent and Oiltanking Terneuzen which are now solely
controlled by Oiltanking GmbH (notified April 16/deadline May
27/simplified)
MAY 28
-- U.S. flooring products maker Mohawk Industries MHK.N to
buy Luxembourg-based International Flooring Systems (notified
March 2/deadline May 28)
MAY 29
-- Spanish bank Banco Sabadell SABE.MC to acquire British
peer TSB TSB.L (notified April 20/deadline May 29/simplified)
JUNE 1
-- German drugs and chemicals maker Merck KGaA MRCG.DE to
acquire U.S. peer Sigma-Aldrich SIAL.O (notified April
21/deadline 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)
JUNE 2
-- Private equity firm KKR KKR.N to acquire negative
control rights in online fantasy sports services FanDuel Ltd,
which is jointly owned by Comcast CMCSA.O , Pentech Fund II Ltd
Partnership, Piton Capital Venture Fund, Scottish Enterprise and
Shamrock Capital Growth Fund (notified April 22/deadline June
2/simplified)
JUNE 3
-- Deprez Holding to acquire a controlling stake in food
processor Greenyard Foods which is now jointly controlled by
food and vegetable supplier Univeg Holding BV and horticulture
producer Peatinvest NV (notified April 23/deadline June
3/simplified)
JUNE 4
-- Bermuda-based reinsurer ParterRe Ltd PRE.N and Axis
Capital Holdings Ltd to merge (notified April 24/deadline June
4/simplified)
JUNE 5
-- Investment funds Equistone Partners Europe to acquire
storage solutions maker Groupe Averys (notified April
27/deadline June 5/simplified)
JUNE 8
-- Private equity firm Advent International to acquire
Austrian bank Hypo Group Alpe Adria AG (HGAA) (notified April
28/deadline June 8/simplified)
JUNE 9
-- Chemical holding company International Chemical Investors
Group to buy Switzerland-based Ineos' chlorovinyls business
(notified April 29/deadline June 9)
-- Private equity firms IDeA Capital Funds SGR S.p.A, IP
Investimenti e Partecipazioni S.r.l. and Hunt Capital S.A. to
jointly acquire orthopaedic products maker Corin Group PLC
(notified April 29/deadline June 9/simplified)
JUNE 10
-- Singapore-based commodities firm Olam International Ltd
OLAM.SI to aquire Archer Daniels Midland Co's ADM.N cocoa
business (notified April 30/deadline June 10)
JUNE 11
-- U.S. metals company Alcoa AA.N to acquire U.S. titanium
supplier RTI International Metals RTI.N (notified May
4/deadline June 11)
-- U.S. packaging company Plastipak PLAST.UL to acquire
Spanish peer Appe Packaging Inc(notified May 4/deadline June 11)
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 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
-- Commodities trader Cargill CARG.UL to buy rival Archer
Daniels Midland Co's ADM.N global chocolate business (notified
Jan. 19/deadline extended for the second time to Aug. 6 from
July 23 after the companies asked for more time)
-- 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/