EU mergers and takeovers (July 9)
09/07/2018 20:48
BRUSSELS, July 9 (Reuters) - The following are mergers under
review by the European Commission and a brief guide to the EU
merger process:
APPROVALS AND WITHDRAWALS
-- T-Mobile Austria, which is a unit of German telecoms
company Deutsche Telekom DTEGn.DE , to acquire UPC Austria,
which is a subsidiary of cable operator UPC UPC.UL (approved
July 9)
-- Japanese trading company Mitsui & Co 8031.T and
Japanese chemicals Kansai Paint Co Ltd 4613.T to set up a
joint venture (approved July 6)
-- Investment company Pimco and Polish property developer
Echo Investment S.A. to set up a joint venture (approved July 6)
-- U.S. private equity firms HPS Investment Partners and
Madison Dearborn Partners to acquire joint control of British
healthcare provider Heath and Protection Solutions Ltd (approved
July 6)
-- Japanese property developer MEC to acquire joint control
of Sime Darby MIT Development Sdn Bhd, which is a joint venture
by Japanese trading house Mitsui 8031.T and Sime Darby
Property Sungai Kapar (approved July 6)
-- Italian motorway operator Atlantia ATL.MI and German
builder ACS Hochtief HOTG.DE to jointly acquire Spanish
construction company Abertis Infraestructuras ABE.MC (approved
July 6)
-- Private equity firm Silver Lake to acquire British
company ZPG ZPG.L , the owner of real estate website Zoopla
(approved July 6)
-- Dutch offshore wind farm companies Otary, Eneco Wind
Belgium and Belgian electricity utility Electrabel GSZEL.UL to
set up a joint venture (approved July 6)
-- Private equity firm Advent International to acquire
generics drugmaker Zentiva from French healthcare group Sanofi
SASY.PA (approved July 5)
-- South African chemicals company Tronox TROX.N to
acquire the titanium dioxide business of Cristal, a subsidiary
of Saudi Arabia's Tasnee (approved July 4)
-- German mail order company Kaiser+Kraft and German tool
maker Hoffmann to acquire joint control of Germany company
Simple System GmbH & Co KG (approved July 3)
-- Private equity firm Apollo Management to acquire Belgian
insurer Generali Belgium (approved July 3)
-- Chinese private equity firm China Jianyin Investment
Limited and investment company Tamar Alliance Health Limited to
jointly acquire Australian healthcare company Australia Nature's
Care Biotech (approved July 3)
-- Private equity firm Partners Group and the Canada Pension
Plan Investment Board to have joint control of U.S.software
company GlobalLogic which is now jointly controlled by CPPIB and
private equity firm Apax Partners (approved July 2)
-- French energy company Total TOTF.PA directo acquire
French power utility Direct Energie DIREN.PA (approved July 2)
-- Israeli drugmaker Teva TEVA.TA to acquire sole control
of part of U.S. consumer products maker Procter & Gamble's
PG.N OTC business in which it currently has a minority stake
(approved June 29)
-- British investment company Intermediate Capital Group to
acquire German fire extinguisher maker Minimax Viking (approved
June 28)
NEW LISTINGS
-- Fertiliser company Uralchem to acquire sole control of
Russian potash producer Uralkali URKA.MM (notified July
6/deadline Aug. 10/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)
-- 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)
-- 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)
-- 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)
-- 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)
-- 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 (notified June
25/deadline July 30/simplified)
-- German DIY retail chains Raiffeisen Ware Austria AG and
ZG Raiffeisen to set up a joint venture (notified June
26/deadline July 31/simplified)
-- Metals and commodities company Liberty House Group to
acquire French aluminium smelter Aluminium Dunkerque from Rio
Tinto (notified June 26/deadline July 31/simplified)
-- Spanish fashion and cosmetics maker PUIG and German
electrical appliances maker Bosch Group's unit BSH to jointly
acquire Spanish perfume maker Noustique (notified June
26/deadline July 31/simplified)
-- U.S. private equity firm Lindsay Goldberg to acquire
German plastic product maker Coveris Rigid EHSI.UL (notified
June 25/deadline July 30/simplified)
EXTENSIONS AND OTHER CHANGES
-- 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)
-- U.S. planemaker Boeing BA.N and French aerospace
company Safran SAF.PA to set up a joint venture to make and
service aircraft auxiliary power units (notified June 5/deadline
July 10/simplified/withdrawn June 25)
FIRST-STAGE REVIEWS BY DEADLINE
JULY 12
-- Irish carrier Ryanair RYA.I to acquire Austrian peer
Laudamotion (notified June 7/deadline July 12)
JULY 13
-- Business travel services company Global Business Travel
Holdings Ltd, which is jointly controlled by American Express Co
AXP.N and Qatar Holding, to acquire UK peer Hogg Robinson
Group Plc HRG.L (notified June 8/deadline July 13)
-- Italian company Snam SRG.MI to acquire Greek gas grid
operator DESFA (notified June 8/July 13/simplified)
-- Siemens SIEGn.DE and Alstom ALSO.PA to merge their
railway operations (notified June 8/deadline July 13)
JULY 16
-- Irish fresh food producer Total Produce to acquire a
45-percent stake in U.S. peer Dole Food Company (notified June
11/deadline July 16)
JULY 18
-- French telecoms and construction company Bouygues
BOUY.PA to acquire German construction and industrial services
companies Alpiq Inteq and Kraftanlagen Muenchen (notified June
13/deadline July 18/simplified)
-- German copper products maker Wieland-Werke to acquire
German copper smelter Aurubis' NAFG.DE flat rolled products
unit Products Schwermetall (notified June 13/deadline July 18)
-- South Korean consumer electronics company LG Electronics
066570.KS to acquire Austrian car light maker ZKW Holding GmbH
(notified June 13/deadline July 18/simplified)
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)
-- Private equity firm Cinven CINV.UL to acquire pet food
company Partner in Pet Foods Holdings (notified June 15/deadline
July 20/simplified)
-- 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
-- Private equity firm H.I.G. Capital to acquire
petrochemicals company INEOS' Baleycourt business and ICT
business (notified June 18/deadline July 23/simplified)
-- French aerospace and defence group Thales TCFP.PA to
acquire Franco-Dutch chipmaker Gemalto GTO.AS (notified June
18/deadline July 23)
-- Dutch car parts maker Samvardhana Motherson Automotive
Systems to acquire Dutch peer Reydel Automotive (notified June
18/deadline July 23/simplified)
JULY 25
-- French private equity firm PAI Partners to acquire UK
industrial services provider M Group Services (notified June
20/deadline July 25/simplified)
-- Private equity firm CVC Capital Partners CVC.UL to
acquire healthcare provider Mehlaeinen Holding (notified June
20/deadline July 25/simplified)
-- 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)
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 9
-- 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 to
Nov. 9 from Oct. 17)
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))