EU mergers and takeovers (July 10)
10/07/2017 14:38
BRUSSELS, July 10 (Reuters) - The following are mergers
under review by the European Commission and a brief guide to the
EU merger process:
APPROVALS AND WITHDRAWALS
-- Canada Pension Plan Investment Board (CPPIB) and British
Telecom Pension Scheme to jointly acquire Milton Park business
park (approved July 7)
-- Japanese conglomerate Itochu 8001.T , Japanese printing
company Toppan Printing 7911.T and Thailand's Thung Hua Sinn
to jointly acquire plastic bag packaging company TPN Food
Packaging (approved July 7)
-- U.S. private equity firm Lone Star to acquire Portuguese
bank Novo Banco (approved July 7)
NEW LISTINGS
-- Chinese chemicals company China National Bluestar (Group)
Co. Ltd and Japanese fibres and chemicals company AKC to set up
a joint venture (notified July 6/deadline Aug. 11/simplified)
EXTENSIONS AND OTHER CHANGES
None
FIRST-STAGE REVIEWS BY DEADLINE
JULY 17
-- U.S. travel search site The Priceline Group PCLN.O to
acquire U.S. peer Momondo Group (notified June 12/deadline July
17)
JULY 18
-- UK property developer Segro plc and Public Sector Pension
Investment Board (PSPIB) to jointly acquire a plot of land
(notified June 13/deadline July 18/simplified)
JULY 19
-- French utility group Suez SA SEVI.PA to acquire U.S.
conglomerate General Electric's GE.N water and process
technologies business (notified June 14/deadline July 19)
JULY 20
-- Private equity firm Blackstone Group BX.N to acquire
Finnish real estate investment company Sponda SDA1V.HE
(notified June 15/deadline July 20/simplified)
-- Lithuanian mobile network operator Bite Lietuva, Swedish
mobile operator Tele2 and Sweden's Telia to set up a joint
venture (notified June 15/deadline July 20)
JULY 24
-- German brake systems maker Knorr-Bremse STELLG.UL to
acquire Swedish peer Haldex HLDX.ST (notified June 1/deadline
extended to July 24 from July 7 after Knorr-Bremse offered
concessions)
-- KPS Capital Partners to acquire U.S. car parts maker
DexKo Global (notified June 16/deadline July 24/simplified)
-- Australian global investment firm IFM and port builder
and concessions operator OHL to acquire joint control of toll
road and airport operator OHL Mexico (notified June 16/deadline
July 24/simplified)
-- Megatrends which is a unit of investment fund European
Cities Fund, and British real estate investment fund Intu
Properties Plc to jointly acquire Spain's Xanadu Retail and
Leisure (notified June 16/deadline July 24/simplified)
JULY 26
-- Swedish carmaker Volvo VOLVb.ST to acquire Swedish car
rental company First Rent A Car AB (notified June 20/deadline
July 26)
-- British asset manager Intermediate Capital Group to
acquire nursing home operator Domusvi Group (notified June
20/deadline July 26/simplified)
-- Anglo-Swiss chemicals company Ineos to acquire British
oil company BP's BP.L Forties Pipeline System (notified June
20/deadline July 26/simplified)
-- Universities Superannuation Scheme Limited (USSL) and
U.S. bank Goldman Sachs GS.N to acquire joint control of
Spanish energy company Redexis Gas (notified June 20/deadline
July 26/simplified)
-- German conglomerate Harng Central Department Store Ltd
and prOperty developer Signa Prime to acquire joint control of
German property developer Berlin, Passauer Straße 1-3 Immobilien
GmbH & Co. KG (notified June 20/deadline July 26/simplified)
JULY 27
-- U.S. chemicals company DuPont DD.N to acquire U.S.
pesticide maker FMC's FMC.N health and nutrition business
(notified June 7/deadline extended to July 27 from July 12 after
DuPont offered concessions)
JULY 28
-- U.S. pesticide maker FMC FMC.N to acquire U.S.
chemicals company DuPont's DD.N crop protection business
(notified June 8/deadline extended to July 28 from July 13 after
FMC offered concessions)
JULY 31
-- Shipping terminal operator PSA International Pte Ltd and
Terminal Investment Ltd Sarl, which is indirectly and jointly
controlled by Swiss container line MSC (Mediterraneann Shipping
Company), to jointly acquire Belgian container terminal operator
PSA DGD (notified June 23/deadline July 31)
AUG 1
-- Property developer Bouygues Immobilier and hotel group
Accor to jointly acquire French company Nextdoor which is now
solely controlled by Bouygues Immobilier (notified June
26/deadline Aug. 1/simplified)
AUG 2
-- Czech energy company EPH to acquire two UK gas-fired
power plants from British energy supplier Centrica CNA.L
(notified June 27/deadline Aug. 2/simplified)
AUG 3
-- U.S. industrial company Deere & Co DE.N to acquire
German road construction company Wirtgen (notified June
28/deadline Aug. 3)
AUG 4
-- Japan's Toray Industries and Japanese industrial
conglomerate Mitsui Co Ltd to jointly acquire Japanese fragrance
and chemicals maker Soda Aromatic Co Ltd 4965.T (notified June
29/deadline Aug. 4/simplified)
-- Private equity firms CCMP Capital and MSD Aqua Partners
to jointly acquire swimming pool equipment maker Hayward
Industries HWRI.PK (notified June 29/deadline Aug.
4/simplified)
-- Credit rating agency Moody's MCO.N to acquire Dutch
business intelligence statistics provider Bureau van Dijk
Electronic Publishing (notified June 29/deadline Aug.
4/simplified)
-- UK property developer Segro plc and Canada's Public
Sector Pension Investment Board (PSPIB) to jointly acquire
French logistics asset Morgane Portfolio (notified June
29/deadline Aug. 4/simplified)
-- Austrian construction company WIG Wietersdorfer Holding
GmbH and Saudi Arabian Amiantit 2160.SE to set up a joint
venture (notified June 29/deadline Aug. 4)
AUG 7
-- French luxury goods group LVMH LVMH.PA and Italian
spectacles maker Marcolin to set up a joint venture (notified
June 30/deadline Aug. 7/simplified)
-- German industrial group Bayer BAYGn.DE to acquire U.S.
seeds company Monsanto MON.N (notified June 30/deadline Aug.
7)
AUG 8
-- Intervias, which is the holding company of fuel station
operator Euro Garages Ltd, to acquire a business unit from Italy
fuel station operator Esso Italiana (notified July 3/deadline
Aug. 8/simplified)
AUG 10
-- Swiss vending services provider Selecta, which is
controlled by private equity firm KKR, to acquire Dutch peer
Pelican Rouge (notified July 5/deadline Aug. 10)
DEADLINE SUSPENDED
-- U.S. smartphone chipmaker Qualcomm QCOM.O to acquire
Dutch company NXP Semiconductors NV NXPI.O (notified April
28/deadline suspended on June 28 after the companies failed to
provide relevant information)
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 2 287 6844; Reuters
Messaging: foo.yunchee.thomsonreuters.com@reuters.net))
Keywords: EU M&A/