EU mergers and takeovers (Feb 24)
24/02/2017 16:25
BRUSSELS, Feb 24 (Reuters) - The following are mergers under
review by the European Commission and a brief guide to the EU
merger process:
APPROVALS AND WITHDRAWALS
-- South Korean conglomerate Samsung Electronics 005930.KS
to acquire U.S. car and audio systems maker Harman International
Industries HAR.N (approved Feb. 23)
-- U.S. technology products distributor Tech Data TECD.O
to acquire U.S. electrical components distributor Avnet's
AVT.N IT business (approved Feb. 23)
NEW LISTINGS
-- German synthetic rubber maker Lanxess AG LXSG.DE to
acquire U.S. specialty chemical company Chemtura
CHMT.N (notified FEb. 24/deadline March 31)
-- Japanese trading company Sumitomo Corp 8053.T to
acquire a 25 percent stake in German auto parts maker Hay
Holding GmbH from Japanese car parts maker Musashi Seimitsu
Industry Ltd 7220.T (notified Feb. 24/deadline March
31/simplified)
-- Private equity firm Bridgepoint to acquire British
vehicle leasing company Zenith from private equity firm
HgCapital Trust Plc HGT.L (notified Feb. 23/deadline March
30/simplified)
-- Buyout firm Lone Star to acquire German building
materials maker Xella from private equity firm PAI Partners and
funds managed by Goldman Sachs' GS.N investment arm (notified
Feb. 22/deadline March 29)
-- AMC Entertainment Holdings AMC.N , which is part of
China's Dalian Wanda Group, to acquire cinema operator Nordic
Cinema Group (notified Feb. 22/deadline March 29/simplified)
-- Dutch insurer NN Group NN.AS to acquire Dutch rival
Group Delta Lloyd DLL.AS (notified Feb. 22/deadline March 29)
-- Indian car parts maker and engineering group Motherson
Sumi Systems Ltd MOSS.NS to acquire Finnish maker of wiring
harnesses for trucks PKC Group PKC1V.HE (notified Feb.
21/deadline March 28)
-- Qatar Airways to acquire a 49 percent stake in Italian
carrier Meridiana (notified Feb. 21/deadline March 28)
EXTENSIONS AND OTHER CHANGES
None
FIRST-STAGE REVIEWS BY DEADLINE
FEB 27
-- German engineering company Siemens SIEGn.DE to acquire
U.S. software company Mentor Graphics MENT.O (notified Jan.
23/deadline Feb. 27)
-- Japan's NKT Cables NKT.CO to acquire Swiss power and
automation company ABB's ABBN.S high voltage cable business
(notified Jan. 23/deadline Feb. 27)
MARCH 2
-- Swiss-based chemicals group Ineos to acquire French
chemical company Arkema's AKE.PA Oxo-alcohols business
(notified Jan. 26/deadline March 2)
-- Japanese brewer Asahi Group Holdings Ltd 2502.T to
acquire Anheuser-Busch InBev's ABI.BR beer businesses in
central and eastern Europe (notified Jan. 26/deadline March 2)
MARCH 7
-- Investment group KKCG and Taiwanese technology company
Hon Hai Precision Industry Co 2317.TW , which is also known as
Foxconn, to set up a private equity fund (notified Jan.
31/deadline March 7/simplified)
MARCH 8
-- Canada Pension Plan Investment Board (CPPIB) to acquire
minority stake and joint control along with Apax Partners over
software development services provider GlobalLogic Holdings Ltd
(notified Feb. 1/deadline March 8/simplified)
-- UK tech company Micro Focus MCRO.L to acquire
Hewlett-Packard Enterprise's HPE.N software business (notified
Feb. 1/deadline March 8)
MARCH 9
-- Private equity firm Kohlberg Kravis Roberts (KKR) KKR.N
to acquire a stake in German market research firm GfK GFKG.DE
(notified Feb. 2/deadline March 9/simplified)
-- U.S. aircraft component maker Rockwell Collins COL.N to
acquire U.S. aircraft interior maker B/E Aerospace BEAV.O
(notified Feb. 2/deadline March 9/simplified)
MARCH 10
-- Denmark's Dong Energy DENERG.CO , Australian investment
bank Macquarie Group Ltd MQG.AX and Taiwanese chemicals
company Swancor Ind Co Ltd 3708.TW to jointly acquire a
Taiwanese offshore wind farm Formosa 1 Wind Power Co Ltd
(notified Feb. 3/deadline March 10/simplified)
-- Slovenian energy group Petrol PETG.LJ to take majority
stake in natural gas wholesaler Geoplin (notified Feb.
3/deadline March 10)
-- Fairfax Financial HOldings Ltd FFH.TO to acquired
certain Latin American and eastern European operations of
American International Group (AIG) AIG.N . (notified Feb.
3/deadline March 10/simplified)
MARCH 13
-- Canada's Public Sector Pension Investment Board (PSPIB)
and Teachers Insurance and Annuity Association of America (TIAA)
to acquire joint control of U.S. data centre operator Vantage
Data Centers Holding Company (notified Feb. 6/deadline March
13/simplified)
-- Finnish fibre materials company Ahlstrom AHL1V.HE to
merge with Finnish specialty paper maker Munksjo MUNK1.HE
(notified Feb. 6/deadline March 13)
-- Private equity firms KKR KKR.N and KSL Capital Partners
IV to acquire joint control of U.S. hospitality operator Apple
Leisure Group (notified Feb. 6/deadline March 13/simplified)
-- French banking mutual group Credit Mutuel Arkea
CCMSOC.UL and private equity firm Bridgepoint to acquire joint
control of French consultancy Groupe Primonial (notified Feb.
6/deadline March 13/simplified)
-- Japan's Mitsui Group 8031.T to acquire a stake in UK
train operator Group Anglia Rail Holdings from Dutch state-owned
public transport firm Abellio (notified Feb. 2/deadline March
13/simplified)
-- German engineering company Siemens SIEGn.DE to merge
assets with Spain's Gamesa GAM.MC to form the world's largest
wind turbine maker (notified Feb. 6/deadline March 13)
MARCH 14
-- U.S. asset manager The Blackstone Group BX.N to acquire
German property developer Officefirst Immobilien AG
OFI.DE (notified Feb. 7/deadline March 14/simplified)
-- Private equity firm HIG Capital to acquire IT security
products maker Infinigate Holding AG (notified Feb. 7/deadline
March 14/simplified)
MARCH 16
-- Australian investment bank Macquarie Group MQG.AX and
the UK's National Grid to acquire joint control of National
Grid's NG.L gas distribution business (notified Feb.
9/deadline March 16)
MARCH 17
-- U.S. wireless carrier AT&T T.N to acquire U.S.
broadcaster and TV studio Time Warner TWX.N (notified Feb.
10/deadline March 17/simplified)
MARCH 20
-- Private equity firms Advent International Corp and Bain
Capital to jointly acquire German payment group Concardis
(notified Feb. 13/deadline March 20/simplified)
-- General Electric Co GE.N to acquire rotor blade maker
LM Wind Power Holding ((notified Feb. 13/deadline March 20)
MARCH 21
-- Swiss Post and Swiss rail company SBB to acquire joint
control of Swisssign (notified Feb. 14/deadline March
21/simplified)
-- Private equity firm Bain Capital to acquire building
materials maker Consolis LBOFCO.UL (notified Feb. 14/deadline
March 21/simplified)
-- Germany's Mabanol Bitumen and H&R Refining to set up a
joint venture (notified Feb. 14/deadline March 21/simplified)
MARCH 22
-- French services and electrical engineering company Spie
S.A. SPIE.PA to acquire German cenergy infrastructure services
ompany SAG Vermogensverwaltung GmbH from private equity firm EQT
(notified Feb. 15/deadline March 22/simplified)
-- Germany's Thyssenkrupp Technologies ThyssenKrupp
TKAG.DE to acquire the remaining 49 percent of German maritime
technology company Atlas Elektronik from Airbus AIR.PA
(notified Feb. 15/deadline March 22/simplified)
MARCH 24
-- Private equity firm Bain Capital to acquire Italian tyre
maker Fintyre (notified Feb. 17/deadline March 24/simplified)
-- French utility EDF EDF.PA and French state bank Caisse
des Depots to have joint control of French power grid operator
RTE (notified Feb. 17/deadline March 24)
MARCH 27
-- Danish container shipping company Maersk MAERSKb.CO to
acquire German peer Hamburg Sud (notified Feb. 20/deadline March
27)
-- French bank Credit Agricole CAGR.PA subsidiary and
French asset manager Amundi AMUN.PA to acquire rival Pioneer
Investments from UniCredit CRDI.MI (notified Feb. 20/deadline
March 27)
-- U.S. conglomerate Standard Industries to acquire German
roof tile maker Braas Monier BMSA.DE (notified Feb.
20/deadline March 27)
APRIL 3
-- Deutsche Boerse DB1Gn.DE and the London Stock Exchange
LSE.L to merge (notified Aug. 24/deadline extended to April 3
from March 13 after the companies offered concessions)
APRIL 4
-- U.S. chemicals company Dow Chemical DOW.N to merge with
DuPont DD.N (notified June 22/deadline extended to April 4
from March 14 after the companies offered concessions)
APRIL 12
-- Chinese state-owned company China National Chemical Corp
(ChemChina) CNNCC.UL to acquire Swiss pesticides and seeds
group Syngenta SYNN.S (notified Sept. 23/deadline extended to
April 12)
APRIL 18
-- German cement producers Heidelbergcement HEIG.DE and
Schwenk to jointly acquire Mexican peer Cemex's CMXCPO.MX
Croatian unit (notified Sept. 5/deadline extended to April 18
from March 23)
SUSPENDED
-- Azerbaijan's state energy company SOCAR to buy stakes in
Greek natural gas grid operator DESFA from Greek natural gas
utility DEPA (notified Oct. 1/deadline suspended on Jan. 21)
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.
(Compiled by Foo Yun Chee)
((Brussels newsroom; +32 2 287 68 30;
brussels.newsroom@thomsonreuters.com))
Keywords: EU MERGERS/