EU mergers and takeovers (June 26)
26/06/2013 14:21
BRUSSELS, June 26 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process: APPROVALS AND WITHDRAWALS -- Yamaha Motor Co Ltd 7272.T and Kayaba Industry Ltd 7242.T to set up a joint venture in Japan to make motorcycle suspension systems (approved June 26) -- Private equity firms Bain Capital and Golden Gate Capital to acquire joint control of U.S. business software maker BMC Software Inc BMC.O (approved June 24) -- French private equity firm PAI Partners to buy R&R Ice Cream from rival Oaktree Capital (approved June 24) -- U.S. derivatives and exchange and clearinghouse operator IntercontinentalExchange Inc ICE.N to buy New York Stock Exchange operator NYSE Euronext NYX.N (approved June 24) -- Giant U.S. food and grain-handling companies ConAgra Foods Inc CAG.N , Cargill CARG.UL and CHS Inc CHSCP.O to combine their North American flour milling businesses into a new venture Ardent Mills, that would control more than a third of U.S. capacity (approved June 24) -- Investment bank Goldman Sachs GS.N and financial services company Thomas H. Lee Partners to acquire joint control of processed food producer CTI Foods (approved June 21) NEW LISTINGS -- Investment bank Goldman Sachs and financial services company Gavea Investimentos to acquire joint control of Latin American telecoms services company Cell Site Solutions Cessao de Infraestruturas S.A. (notified June 24/deadline July 29/simplified) -- Private equity firm Blackstone Group BX.N to buy property developer Multi Corp (notified June 21/deadline July 26/simplified) -- Canadian pension funds OMERS and AimCo to acquire joint control of European cinema operator Vue Entertainment International Ltd (notified June 21/deadline July 26) -- Carrier Asia, which is a subsididary of United Technologies Corp UTX.N , and Toshiba Carrier Corporation, which is a joint venture between UTC and Toshiba Corp 6502.T , to set up an air-conditioning products joint venture in China (notified June 20/deadline July 25/simplified) -- German insurer Allianz ALVG.DE and Canadian investor Borealis to buy Czech gas pipeline operator Net4Gas from Germany's RWE AG RWEG.DE (notified June 20/deadline July 25/simplified) -- German car parts supplier Mahle to increase its majority stake in German peer Behr KG BEHR.UL (notified June 19/deadline July 24/simplified) EXTENSIONS AND OTHER CHANGES None FIRST-STAGE REVIEWS BY DEADLINE JUNE 26 -- Spanish book retailer Circulo, which is a joint venture between German media group Bertelsmann BERT.UL and Spanish company Planeta, to acquire joint control of its wholly-owned subsidiary book seller Yadican together with Spanish telecoms operator Telefonica (notified May 22/deadline June 26/simplified) JUNE 27 -- Trading house Argos to buy French energy product retailer Etablissements Joseph Wallach S.A.S (notified May 23/deadline June 27) -- Energy trading house Argos Group Holding B.V. to buy French petrol product retailer Etablissements Joseph Wallach S.A.S. (notified May 23/deadline June 27) JUNE 28 -- Fonds Strategique d'Investissement S.A., which is controlled by French investment fund Caisse des Depots et Consignations, to acquire joint control of shipping services provider CMA CGM together with industrial group Yildirim Holding A.S. and holding company Merit Corporation (notified May 24/deadline June 28) JULY 2 -- U.S. group General Electric Co GE.N to buy the aviation business of Italian plane components maker Avio from private equity fund Cinven and Italian defence group Finmeccanica SIFI.MI (notified May 13/deadline extended to July 2 from June 18 after GE offered commitments) JULY 4 -- Norwegian telecoms provider Telenor TEL.OL to acquire Bulgarian mobile operator Cosmo Bulgaria Mobile EAD and telephony products retailer Germanos Telecom Bulgaria EAD from Greek telecoms company OTE OTEr.AT (notified May 30/deadline July 4) JULY 5 -- U.S. diversified manufacturer Crane Co CR.N to buy U.S. manufacturer of electronic bill acceptors and transaction mechanisms MEI Conlux from private equity firms Bain Capital and Advantage Partners (notified May 31/deadline July 5) -- Shell RDSa.L to buy some liquified natural gas assets from Spanish oil company Repsol REP.MC (notified May 31/deadline July 5/simplified) JULY 8 -- U.S. medical product maker Baxter International Inc BAX.N to buy Swedish kidney dialysis product company Gambro (notified June 3/deadline July 8) JULY 9 -- Private equity firm KKE KKR.N to acquire indirect control of U.S. industrial machinery manufacturer Gardner Denver Inc GDI.N (notified June 4/deadline July 9/simplified) JULY 10 -- Private equity firm Bain Capital to acquire sole control of German brakes maker FTE (notified June 5/deadline July 10/simplified) JULY 12 -- German agricultural cooperative BayWa BYWG.DE to acquire joint control of German grain trading company Bohnhorst Agrarhandel (notified June 7/deadline July 12/simplified) -- Private equity firm Kohlberg Kravis Roberts KKR.N to buy waters services supplier South Staffordshire plc (notified June 7/deadline July 12/simplified) JULY 15 -- Norwegian maritime classification firm Det Norske Veritas to merge with Hamburg-based peer Germanischer Lloyd (notified June 10/deadline July 15) JULY 18 -- Italian gas distributor Snam and Luxembourg investment company GICSI to acquire joint control of French gas network operator Transport et Infrastructure Gaz France S.A (notified June 13/deadline July 18/simplified) JULY 19 -- Swiss-based oil trader Vitol to buy one of refiner Phillips 66's PSX.N British power plant (notified June 14/deadline 19/simplified) JULY 22 -- Canadian private equity firm Onex Corp OCX.TO to acquire indirect sole control of U.S. windows and door maker Jeld-Wen OCXJW.UL (notified June 17/deadline July 22/simplified) -- Swiss industrial group ABB ABBN.VX to buy U.S. solar energy company Power-One Inc PWER.O (notified June 17/deadline July 22) JULY 23 -- US Airways Group LCC.N and American Airlines AAMRQ.PK to merge (notified June 18/deadline July 23) JULY 25 -- German insurer Allianz SE ALVG.DE and others to buy RWE AG's RWEG.DE Czech gas pipeline operator business Net4Gas (notified June 20/deadline July 25/simplified) -- Carlyle Group CG.O to buy 40 percent of AlpInvest (notified June 20/deadline July 25/simplified) SEPT 3 -- Greek carrier Aegean Airlines AGNr.AT to buy Olympic Air MRFr.AT (notified Feb. 28/deadline extended for the second time to Sept. 3 from April 23 after the Commission opened an in-depth investigation) SEPT 6 -- Swedish refiner Nynas to purchase certain assets from Royal Dutch Shell's RDSa.L Harburg refinery (notified Feb. 19/deadline extended for the second time to Sept. 6 from Aug. 8) 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. (Editing by Foo Yun Chee) ((brussels.newsroom@thomsonreuters.com)(+32-2-287-6830)) Keywords: EU MERGERS/TAKEOVERS