EU mergers and takeovers (July 19)
19/07/2018 19:44
BRUSSELS, July 19 (Reuters) - The following are mergers
under review by the European Commission and a brief guide to the
EU merger process:
APPROVALS AND WITHDRAWALS
-- Spanish fashion and cosmetics maker PUIG and German
electrical appliances maker Bosch Group's unit BSH to jointly
acquire Spanish perfume maker Noustique (approved July 18)
-- Metals and commodities company Liberty House Group to
acquire French aluminium smelter Aluminium Dunkerque from Rio
Tinto RIO.L RIO.AX (approved July 18)
-- South Korean consumer electronics company LG Electronics
066570.KS to acquire Austrian car light maker ZKW Holding GmbH
(approved July 18)
-- U.S. house appliances maker Whirlpool WHR.N and Italian
cooker hood maker Elica ELC.MI to jointly acquire Indian
electrical appliances company Elica PB India (approved July 17)
-- U.S. private equity firm Lindsay Goldberg to acquire
German plastic product maker Coveris Rigid EHSI.UL (approved
July 17)
NEW LISTINGS
-- Private equity firms S.L.04 and Ambienta SFT to acquire
joint control of cosmetic packager Pibiplast S.p.A. (notified
July 18/deadline Aug. 23/simplified)
-- Private equity firm HgCapital to acquire software company
Allocate from private equity firm Vista Equity Partners
(notified July 17/deadline Aug. 22)
-- Norway's DNB Bank DNB.OL and Norwegian consumer goods
company Orkla ORK.OL to set up a joint venture (notified July
16/deadline Aug. 21/simplified)
-- Private equity firm KKR KKR.N to acquire German IT
services provider Sellbytel Group (notified July 16/deadline
Aug. 21/simplified)
-- French insurer Axa AXAF.PA to acquire XL Group
(notified July 12/deadline Aug. 17/simplified)
-- U.S. private equity firms Clearlake Capital Group and
Vista to acquire joint control of U.S. aerial imagery and
software company Eagleview Technology Corp (notified July
11/deadline Aug. 16/simplified)
-- Chinese domestic appliance maker Hisense 600060.SS to
acquire Slovenian peer Gorenje (notified July 6/deadline Aug.
10/simplified)
EXTENSIONS AND OTHER CHANGES
None
FIRST-STAGE REVIEWS BY DEADLINE
July 20
-- Private equity firm Blackstone BX.N to acquire a
majority stake in Thomson Reuters' TRI.TO Financial and Risk
(F&R) unit (notified June 15/deadline July 20)
-- Finnish biofuel company Neste NESTE.HE to acquire a
majority stake in Dutch animal fat trader Demeter Animal Fats
and Proteins (notified June 15/deadline July 20)
JULY 23
-- Copper company KME, which is part of Intek Group, to
acquire German peer MKM Mansfelder Kupfer and Messing GmbH
(notified June 4/deadline extended to July 23 from July 9 after
the companies provided concessions)
-- French aerospace and defence group Thales TCFP.PA to
acquire Franco-Dutch chipmaker Gemalto GTO.AS (notified June
18/deadline July 23)
JULY 25
-- German construction products maker Knauf International to
acquire U.S. peer Armstrong World Industries' AWI.N EMEA and
Pacific Rim businesses (notified June 20/deadline July 25)
JULY 27
-- German company Oetker Group to acquire a majority stake
in Spanish sparkling wine producer Freixenet (notified June
22/deadline July 27)
-- Swiss asset manager Partners Group Holding PGHN.S to
acquire German metering company Techem from Macquarie (notified
June 22/deadline July 27/simplified)
-- Czech investment group PPF Group to acquire Norwegian
telecoms provider Telenor's TEL.OL central European businesses
(notified June 22/deadline July 27)
-- Macquarie Group MQG.AX and Goldman Sachs GS.N to
jointly acquire Dutch terminal operator HES International
(notified June 22/deadline July 27)
JULY 30
-- Irish fresh food producer Total Produce T7O.I to
acquire a 45-percent stake in U.S. peer Dole Food Company
DFCI.UL (notified June 11/deadline extended to July 30 from
July 16 after Total offered concessions)
JULY 31
-- German DIY retail chains Raiffeisen Ware Austria AG and
ZG Raiffeisen to set up a joint venture (notified June
26/deadline July 31/simplified)
AUG 1
-- German copper products maker Wieland-Werke to acquire
German copper smelter Aurubis' NAFG.DE flat rolled products
unit Products Schwermetall (notified June 13/deadline extended
to Aug. 1 from July 18 after the companies offered concessions)
AUG 2
-- Italian car rental company Eurocar, which is a unit of
German carmaker Volkswagen eurocar VOWG_p.DE , to acquire sole
control of Italian peer Bonaldi (notified June 28/deadline Aug.
2)
AUG 3
-- Swiss logistics company Kuehner+Nagel KNIN.S and
Singapore state-owned investment company Temasek to set up a
joint venture (notified June 29/deadline Aug. 3/simplified)
-- French insurer Axa AXAF.PA to acquire German peer
Roland (notified June 29/deadline Aug. 3/simplified)
AUG 7
-- Algerian state-owned oil and gas company Sonatrach to
acquire an Italian refinery from Exxon Mobil XOM.N (notified
July 3/deadline Aug. 7/simplified)
-- U.S. powertrain technology company Tenneco TEN.N to
acquire car parts maker Federal Mogul (notified July 3/deadline
Aug. 7)
AUG 8
-- Singapore state-owned property developer GIC Group and
real estate developers Frasers Property Ltd JustGroup to set up
a joint venture (notified July 4/deadline Aug. 8/simplified)
-- Private equity firm Bain Capital to acquire German tyre
company Reifen Krieg Group (notified July 4/deadline Aug.
8/simplified)
AUG 9
-- Private equity firm KKR KKR.N to acquire British
restaurant operator Casual Dining Bidco BLASTT.UL (notified
July 5/deadline Aug. 9/simplified)
-- Holding company Elixia, which is controlled by Nordic
private equity firm Altor Fund III, and Tryghedsgruppen, whose
members are policyholders of insurer Tryg TRYG.CO , to jointly
acquire fitness chain Fitness DK Holding (notified July
5/deadline Aug. 9/simplified)
-- French consumer credit provider CA Consumer Finance S.A.
and Spanish bank Bankia BKIA.MC to set up a joint venture
(notified July 5/deadline Aug. 9/simplified)
-- Japan's Sumitomo Corp 8053.T and Belgian wind farm
developer Parkwind to jointly acquire Belgian wind farm operator
Northwester2 (notified July 5/deadline Aug. 9/simplified)
AUG 10
-- Fertiliser company Uralchem to acquire sole control of
Russian potash producer Uralkali URKA.MM (notified July
6/deadline Aug. 10/simplified)
AUG 16
-- Oxford Jersey Holding Company Limited, Dutch investment
fund ABP, real estate investment fund DV4 and Qatari Diar Real
Estate Investment Company to acquire joint control of British
real estate developer (notified July 11/deadline Aug.
16/simplified)
AUG 17
-- HK conglomerate CK Hutchison 0001.HK to acquire sole
control of Italian mobile network Wind Tre from Dutch mobile
operator Veon VON.AS (notified July 12/deadline Aug. 17)
AUG 20
-- U.s. investment company Cerberus Group to acquire French
ground handling services operator WES Global Holding (notified
July 13/deadline Aug. 20/simplified)
AUG 24
-- German industrial gases group Linde LING.DE to merge
with U.S. peer Praxair PX.N (notified Jan. 12/ deadline
extended to Aug. 24)
SEPT 4
-- iPhone maker Apple AAPL.O to acquire UK music streaming
service Shazam (notified March 14/deadline extended to Sept. 4
from April 23 after the European Commission opened an in-depth
investigation)
OCT 31
-- German company BASF BASFn.DE to acquire Belgian
chemicals company Solvay's SOLB.BR worldwide polyamide
business (notified May 22/deadline extended to Oct. 31 from June
26 after the European Commission opened an in-depth
investigation)
NOV 16
-- Deutsche Telekom DTEGn.DE to acquire Swedish peer
Tele2's TEL2b.ST Dutch unit and merge it with its Dutch
business T-Mobile Nederland (notified May 2/deadline extended
for the second time to Nov. 16 from Nov. 9 after the companies
asked for more time)
DEC 19
-- Siemens SIEGn.DE and Alstom ALSO.PA to merge their
railway operations (notified June 8/deadline extended to Dec. 19
from Nov. 21 after the companies asked for more time)
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.
(Reporting by Foo Yun Chee)
((foo.yunchee@thomsonreuters.com; +32 2 2876850; Reuters
Messaging: foo.yunchee.thomsonreuters.com@reuters.net))