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EU mergers and takeovers (April 18)

Published 2017-04-18, 09:37 a/m
© Reuters.  EU mergers and takeovers (April 18)
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BRUSSELS, April 18 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- U.S. aircraft component maker Rockwell Collins (NYSE:COL) COL.N to acquire aircraft interior maker B/E Aerospace BEAV.O (approved April 11)

-- U.S. car part supplier Lear LEA.N to acquire Grupo Antolin's automotive seating business (approved April 11)

NEW LISTINGS

-- 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)

-- 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 (NYSE:JNJ) JNJ.N to acquire Swiss biotech company Actelion ATLN.S (notified April 12/deadline May 24)

-- Nordic Capital to combine with Intrum Justitia to create joint credit management services company (notified April 12/deadline May 24)

-- 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)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

APRIL 19

-- Private equity firm Advent International to acquire biometrics and security business Morpho from French aerospace group Safran SAF.PA (notified Feb. 24/deadline extended to April 19 from March 31 after the companies offered concessions)

-- 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 extended to April 19 from March 31 after the companies offered concessions)

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

-- Singapore-based tech communications company Broadcom (NASDAQ:AVGO) AVGO.O to acquire U.S. networking switches and software maker Brocade (notified March 17/ deadline 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 2

-- Italian energy company Duferco Energia to acquire a business unit from Italian electricity company Energhe S.p.A. (notified March 22/deadline May 2/simplified)

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 (NYSE:F) 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)

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)

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.

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