EU mergers and takeovers (Feb 7)
07/02/2017 12:39
BRUSSELS, Feb 7 (Reuters) - The following are mergers under
review by the European Commission and a brief guide to the EU
merger process:
APPROVALS AND WITHDRAWALS
-- Bunge BG.N to buy two European oilseed processing
facilities in France and the Netherlands from Cargill (approved
Feb. 6)
-- U.S. conglomerate Koch Industries Inc KCHIN.UL to
acquire equity securities of certain affiliates of U.S. business
applications provider Infor Enterprises Applications L.P., which
is controlled by private equity fund Golden Gate Private Equity
Inc (approved Feb. 6)
NEW LISTINGS
-- 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)
-- 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)
EXTENSIONS AND OTHER CHANGES
-- 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)
FIRST-STAGE REVIEWS BY DEADLINE
FEB 7
-- U.S. factory automation equipment maker Emerson Electric
Co EMR.N to buy pump manufacturer Pentair Plc's PNR.N valves
and controls business (notified Jan. 3/deadline Feb. 7)
FEB 10
-- Private equity firm Onex Corp ONEX.TO to acquire
Parkdean Resorts, a British operator of caravan holiday parks
(notified on Jan. 6/deadline Feb. 10/simplified)
FEB 15
-- China's Weichai Power Co 000338.SZ raises its stake in
German industrial vehicle and supply chain system maker Kion
KGX.DE (notified Jan. 11/deadline Feb. 15/simplified)
-- General Electric Co GE.N to acquire rotor blade maker
LM Wind Power Holding ((notified Jan. 11/deadline Feb. 15)
FEB 16
-- Apollo Management APOLO.UL to acquire Dutch lighting
products maker Lumileds Holding (notified Jan. 12/deadline Feb.
16/simplified)
FEB 17
-- Japan's Mitsubishi Chemical Holdings 4188.T , Marubeni
Corp 8002.T and Metro Pacific Investments MPI.PS to form a
joint venture to provide clinical laboratory services in the
Philippines (notified Jan. 13/deadline Feb. 17/simplified)
FEB 20
-- U.S. investment fund HPS to acquire joint control of U.S.
insurance broker NFP Holdings which is now solely controlled by
U.S. private equity firm Madison Dearborn Partners (notified
Jan. 16/deadline Feb. 20/simplified)
FEB 21
-- U.S. healthcare company Johnson & Johnson JNJ.N to
acquire U.S. peer Abbot Laboratories' eye-surgery unit (notified
Jan. 17/deadline Feb. 21)
-- Japanese electronics products maker Sharp 6753.T , which
is a unit of Taiwanese conglomerate Hon Hai 2354.TW , to
acquire a majority stake in UMC from Skytec UMC (notified Jan.
17/deadline Feb. 21/simplified)
FEB 22
-- Investment fund EQT Fund Management to acquire joint
control of Germany energy company Getec Energie Holding which is
now solely controlled by GEH GmbH (notified Jan. 18/deadline
Feb. 22/simplified)
FEB 23
-- U.S. technology products distributor Tech Data TECD.O
to acquire U.S. electrical components distributor Avnet's
AVT.N IT business (notified Jan. 19/deadline Feb. 23)
FEB 24
-- Swedish hygiene products and forestry group SCA SCAb.ST
to acquire German bandage and plaster cast maker BSN from
private equity firm EQT (notified Jan. 20/deadline Feb.
24/simplified)
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
-- Private equity firm CVC Capital Partners CVC.UL to
acquire Belgian aluminium products maker Corialis (notified Jan.
26/deadline March 2/simplified)
-- Swiss-based chemicals group Ineos to acquire French
chemical company Arkema's AKE.PA Oxo-alcohols business
(notified Jan. 26/deadline March 2)
-- U.S. private equity firm KKR & Co LP KKR.N to acquire
Japanese conglomerate Hitachi's 6501.T power tools unit
Hitachi Koki 6581.T (notified Jan. 26/deadline March
2/simplified)
-- 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)
-- South Korean conglomerate Samsung Electronics 005930.KS
to acquire U.S. car and audio systems maker Harman International
Industries HAR.N (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)
-- 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)
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
-- 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
-- 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. chemicals company Dow Chemical DOW.N to merge with
DuPont DD.N (notified June 22/deadline extended to March 14
from Feb. 28)
MARCH 23
-- 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 March 23
from March 2 after the companies submitted 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)
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/