EU mergers and takeovers (March 21)
21/03/2017 15:01
BRUSSELS, March 21 (Reuters) - The following are mergers
under review by the European Commission and a brief guide to the
EU merger process:
APPROVALS AND WITHDRAWALS
-- 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
(approved March 21)
-- 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 (approved March 21)
-- 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 (approved March 21)
NEW LISTINGS
None
EXTENSIONS AND OTHER CHANGES
None
FIRST-STAGE REVIEWS BY DEADLINE
MARCH 21
-- Healthcare company Johnson & Johnson to acquire eye
surgery company Abbott Medical Optics Inc. (notified Jan 17/
deadline Feb 21)
MARCH 22
-- 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
-- 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)
MARCH 28
-- Qatar Airways to acquire a 49 percent stake in Italian
carrier Meridiana (notified Feb. 21/deadline March 28)
MARCH 29
-- 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)
MARCH 30
-- 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)
MARCH 31
-- Canadian pension fund manager OTPP to acquire French
funeral service provider OGF Group (notified Feb. 24/deadline
March 31/simplified)
-- Private equity firm Advent International to acquire
biometrics and security business Morpho from French aerospace
group Safran SAF.PA (notified Feb. 24/deadline March 31)
-- 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) (notified Feb.
24/deadline March 31)
-- German synthetic rubber maker Lanxess AG LXSG.DE to
acquire U.S. specialty chemical company Chemtura
CHMT.N (notified FEb. 24/deadline March 31)
APRIL 3
-- Private equity firm Europa Capital, which is part of
Mitsubishi Estate Co Ltd, and Danish hotel operator Rezidor,
which is controlled by hotel group Carlson Holdings Inc, to
jointly acquire Warsaw hotel operator PHD Polska (notified Feb.
27/deadline April 3/simplified)
-- 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. computer and printer maker Hewlett Packard HPQ.N
to acquire South Korean group Samsung Electronics' 005930KS
printer business (notified Feb. 28/deadline April 4)
-- Japan's Mitsubishi Chemical Group MSCHML.UL and Thai
state-owned oil and gas company PTT Public Company Group to set
up a joint venture (notified Feb. 28/deadline April
4/simplified)
-- 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 7
-- Engie Group French banking group BPCE to acquire a 49.9
percent stake in renewable energy companies LCS 4 and LCS
(notified March 3/deadline April 7/simplified)
-- Twenty-First Century Fox FOXA.O to acquire the rest of
European pay-TV company Sky SKYB.L it does not own (notified
March 3/deadline April 7)
APRIL 10
-- French real estate asset management company Amundi
Immobilier, which is part of French bank Credit Agricole
CAGR.PA , and French social protection services provider
Malakoff Mederic to acquire joint control of German property
developer TAS Kapstadtring (notified March 6/deadline April
10/simplified)
-- UK property developer Segro SGRO.L and Canada's Public
Sector Pension Investment Board to jointly acquire three
logistics operations in Italy (notified March 6/deadline April
10/simplified)
APRIL 11
-- Private equity firm Partners Group PGHN.S to acquire
European operator of clinical pathology laboratory operator
Cerba Healthcare from PAI Partners (notified March 7/deadline
April 11/simplified)
APRIL 12
-- U.S. aircraft component maker Rockwell Collins COL.N to
acquire aircraft interior maker B/E Aerospace BEAV.O (notified
March 8/deadline April 12)
-- U.S. car part supplier Lear LEA.N to acquire Grupo
Antolin's automotive seating business (notified March 8/deadline
April 12/simplified)
-- Dutch insurer NN Group NN.AS to acquire Dutch rival
Group Delta Lloyd DLL.AS (notified Feb. 22/deadline extended
to April 12 from March 29 after the Dutch competition regulator
asked to examine the deal)
-- 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
-- Megatrend European Holdings, which is part of property
investment company TH Real Estate, and German insurer Allianz
ALVG.DE to jointly acquire Finnish company NRF which owns
Helsinki-based Kamppi Shopping Centre (notified March 9/deadline
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)
APRIL 19
-- Private equity firm 3i III.L , Dutch asset manager APG
and Danish pension fund ATP to acquire a portfolio of European
infrastructure companies from EISER (notified March 10/April
19/simplified)
APRIL 21
-- French utility Engie ENGIE.PA to acquire UK property
developer Keepmoat Regeneration HOldings (notified March
14/deadline April 21/simplified)
APRIL 24
-- French media company Bollore BOLL.PA to acquire control
of French company Vivendi VIV.PA (notified March 15/deadline
April 24)
-- France's Group Credit Mutuel and French bank BNP Paribas
BNPP.PA to set up a joint venture (notified March 15/deadline
April 24)
-- Bollore Energy, which is part of French group Bollore
BOLL.PA , and Total Marketing France, which is part of French
energy company Total TOTF.PA , to set up a joint venture
(notified March 15/deadline April 24/simplified)
APRIL 25
-- Private equity firm CVC CVC.UL to acquire Polish
retailer Zabka Polska (notified March 16/deadline April
25/simplified)
APRIL 26
-- Investment company Ardian to acquire majority of France's
Prosol, an operator of Grand Frais grocery stores (notified
March 17/deadline April 26/simplified)
-- Singapore-based tech communications company Broadcom
AVGO.O to acquire U.S. networking switches and software maker
Brocade (notified March 17/ deadline April 26)
MAY 12
-- 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)
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.
(Reporting by Waverly Colville)
((foo.yunchee@thomsonreuters.com; +32 2 287 6844; Reuters
Messaging: foo.yunchee.thomsonreuters.com@reuters.net))
Keywords: EU M&A/