EU mergers and takeovers (April 20)
20/04/2017 17:00
BRUSSELS, April 20 (Reuters) - The following are mergers
under review by the European Commission and a brief guide to the
EU merger process:
APPROVALS AND WITHDRAWALS
-- Italian energy company Duferco Energia to acquire a
business unit from Italian electricity company Energhe S.p.A.
(approved April 19)
-- Britain's Rolls-Royce RR.L to acquire the remaining
53.1 percent stake in Spanish aircraft engine and components
maker Industria de Turbo Propulsores (ITP) (approved April 19)
-- Private equity firm Advent International to acquire
biometrics and security business Morpho 3653.T from French
aerospace group Safran SAF.PA (approved April 19)
NEW LISTINGS
None
EXTENSIONS AND OTHER CHANGES
-- Singapore-based tech communications company Broadcom
AVGO.O to acquire U.S. networking switches and software maker
Brocade BRCD.O (notified March 17/ deadline extended to May 12
from April 26 after commitments submitted)
FIRST-STAGE REVIEWS BY DEADLINE
APRIL 24
-- French media company Bollore BOLL.PA to acquire control
of French company Vivendi VIV.PA (notified March 15/deadline
April 24)
APRIL 26
-- Swiss pharmaceutical supplier Lonza Group LONN.S to
acquire U.S. capsule maker Capsugel from private equity firm KKE
& Co LP KKR.N (notified March 17/deadline April 26)
MAY 4
-- Private investment firm KKR & Co. KKR.N to acquire
travel company Travelopia Holdings Ltd and Travelopia USA Inc.
(notified March 24/ deadline May 4/simplified)
MAY 5
-- Japan's Panasonic Corporation 6752.T to acquire Spanish
auto parts maker Ficosa International FICOS.UL (notified march
27/deadline May 5)
-- Banking services platform Pillarstone to acquire holding
company Famar which has activities in the pharmaceutical
industry (notified March 27/deadline May 5/simplified)
MAY 8
-- Swiss car importer Emil Frey France to acquire French car
parts distributor PGA Group SAS from German carmaker Volkswagen
Group VOWG_p.DE (notified March 28/deadline May 8/simplified)
MAY 10
-- Toyota Industries Europe 6201.T to acquire Vive, the
parent company of Dutch industrial company Vanderlande
Industries Holding B.V (notified March 29/deadline May
10/simplified)
MAY 12
-- Taiwan's Ennoconn 6414.TW , which is part of electronics
maker Foxconn 2354.TW , to increase its stake in Austrian IT
group S&T SANT1.DE (notified March 31/deadline May 12)
-- French media group Vivendi VIV.PA to acquire de facto
sole control of Italy's Telecom Italia TLIT.MI (notified March
31/deadline May 12)
-- German car makers BMW BMWG.DE , Daimler DAIGn.DE and
Porsche AG PSHG_p.DE and U.S. peer Ford Motor Co F.N to
acquire control of a joint venture (notified March 31/deadline
May 12/simplified)
-- U.S. chemicals group Riechhold REICH.UL and Black
Diamond Capital to acquire Italian polymers maker Polynt
ININDY.UL which is owned by Italian private equity group
Investindustrial (notified March 17/deadline May 12/commitments
offered March 17)
-- Singapore-based tech communications company Broadcom
AVGO.O to acquire U.S. networking switches and software maker
Brocade (notified March 17/ deadline extended to May 12 from
April 26)
MAY 15
-- Canada Pension Plan Investment Board and Canada's Public
Sector Pension Investment Board (PSPIB) to jointly acquire a
portfolio of office and retail properties in New Zealand which
is now solely controlled by PSPIB (notified April 3/deadline May
15/simplified)
-- Private equity firm Bain Capital to acquire UK company
MKM Building Supplies Ltd (notified April 3/deadline May
15/simplified)
-- Private equity firm KKR KKR.N and Spanish telecoms
provider Telefonica TEF.MC tp acquire joint control of Spanish
telecoms infrastructure provider Telxius (notified April
3/deadline May 15/simplified)
-- German conglomerate Peter Cremer Holding to acquire 50
percent of Koenig Transportgesellschaft from German logistics
company HaGe Logistik GmbH (notified April 3/deadline May
15/simplified)
MAY 16
-- Volkswagen Financial Services to acquire 50.98 percent of
German tank and service cards provide Logpay Transport Services
from Logpay Financial Services (notified April 4/deadline May
16/simplified)
-- Finnish pension fund ELO Mutual Pension Insurance Company
and Swedish peer Forsta AP-fonden to jointly acquire several
Finnish property portfolio (notified April 4/deadline May
16/simplified)
MAY 18
-- French insurer Axa AXAF.PA and French state-owned bank
Caisse des Depots et Consignations to jointly acquire two
commerical lots in a shopping centre (notified April 6/deadline
May 18/simplified)
MAY 19
-- Italian cinema operator The Space Cinema, which is
controlled by Vue International Holdco Ltd, and Italian peer UCI
Italian S.p.A. which is part of Chinese conglomerate Dalian
Wanda Group, to set up a joint venture (notified April
7/deadline May 19/simplified)
-- German industrial gas producer Linde LING.DE and
Russian power generation equipment maker PJSC Power Machines to
set up a joint venture (notified April 7/deadline May
19/simplified)
-- U.S. packaging company WestRock WRK.N to acquire U.S.
peer Multi Packaging Solutions MPSX.N (notified April
7/deadline May 19)
-- Asset manager Ares Management L.P. and investment firm
The Baupost Group to jointly acquire German shopping mall
operator Prejan Enerprises Ltd (notified April 7/deadline May
19/simplified)
MAY 22
-- Investment firms Cinven Capital Management CINV.UL and
Canada Pension Plan Investment Board to acquire joint control of
Travel Holdings Parent Corporation (notified April 10/deadline
May 22)
May 23
-- KKR & Co. KKR.N and Caisse de Depot et Placement du
Quebec to acquire Onex Corp.'s ONEX.TO USI Insurance Services
(notified April 11/deadline May 23)
MAY 24
-- French commodities trader Louis Dreyfus Company and
Brazilian soy processor-exporter Amaggi to sell a 33 percent
stake in their joint venture in Brazil to Japan-based Zen-Noh
(notified April 12/deadline May 24/simplified)
-- American healthcare company Johnson & Johnson JNJ.N to
acquire Swiss biotech company Actelion ATLN.S (notified April
12/deadline May 24)
-- Investment company Nordic Capital to acquire credit
management services company Intrum Justitia (notified April
12/deadline May 24)
MAY 29
-- French EDF EDF.PA to acquire equipment and fuel
manufacturing company Areva AREVA.PA (notified April
18/deadline May 29)
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/