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EU mergers and takeovers (Nov 18)

Published 2016-11-18, 07:30 a/m
© Reuters.  EU mergers and takeovers (Nov 18)

BRUSSELS, Nov 18 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Canada Pension Plan Investment Board and real estate developer Hammerson to acquire joint control of UK shopping centre Grand Central, which is now solely owned by Hammerson (approved Nov. 18)

-- Abu Dhabi company International Petroleum Investment Company P.J.S.C. (IPIC) and Mubadala Development Co P.J.S.C. to merge (approved Nov. 17)

NEW LISTINGS

-- Hewlett Packard Enterprise Services (HPES), IT services business of Hewlett Packard Enterprises HPE.N , to acquire U.S. IT services group Computer Sciences Corp (NYSE:CSC) CSC.N . Deal previously approved as CSC buying Hew Packard Enterprise Services on Sept. 19 (notified Nov. 17/deadline Dec. 22/simplified)

-- Coca Cola Company KO.N to buy 50 percent stake in Lithuanian mineral water producer Neptuno Vandenys from Coca Cola Hellenic Bottling Company CCH.L (notified Nov. 17/deadline Dec. 22

-- Verizon Communications (NYSE:VZ) VZ.N to acquire U.S. internet company Yahoo YHOO.O (notified Nov. 17/deadline Dec. 22)

EXTENSIONS AND OTHER CHANGES

FIRST-STAGE REVIEWS BY DEADLINE

NOV 21

-- German supermarket chain Metro MEOG.DE to acquire French food service delivery company Colruyt France SAS (notified Oct. 13/deadline Nov. 21/simplified)

NOV 22

-- U.S. oil services company FMC Technologies (NYSE:FTI) FTI.N to merge with French oil services company Technip TECF.PA (notified Oct. 14/deadline Nov. 22)

-- French household equipment maker Groupe SEB SEBF.PA to acquire German peer WMF from private equity firm KKR KKR.N (notified Oct. 14/deadline Nov. 22)

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NOV 23

-- U.S. medical devices maker Abbott Laboratories (NYSE:ABT) ABT.N to acquire U.S. peer St Jude STJ.N (notified Oct. 3/deadline extended to Nov. 23 from Nov. 9 after the companies offered concessions)

-- German shipping company Hapag-Lloyd HLAG.DE to merge with Kuwait-based United Arab Shipping Co (notified Oct. 3/deadline extended to Nov. 23 from Nov. 9 after the companies offered concessions)

NOV 30

-- French car parts supplier Valeo VLOF.PA to acquire German clutch maker FTE Group (notified Oct. 10/deadline extended to Nov. 30 from Nov. 16 after Valeo offered concessions)

DEC 2

-- French group Danone DANO.PA to acquire U.S. organic foods producer WhiteWave Foods Co WWAV.N (notified Oct. 26/deadline Dec. 2)

-- 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 Oct. 26/deadline Dec. 2)

DEC 5

-- ArcelorMittal CLN Distribuzione Italia S.r.l., which is a joint venture between steelmaker ArcelorMittal ISPA.AS and the CLN Group, to jointly acquire newly set up company Acierplus (notified Oct. 27/deadline Dec. 5/simplified)

DEC 6

-- French state-controlled post office La Poste's LAPST.UL freight delivery services unit Geopost and holding company Corfin 14 to jointly acquire parcel and freight delivery company BRT (notified Oct. 28/deadline Dec. 6/simplified)

-- U.S. software company Microsoft MSFT.O to acquire social network LinkedIn (NYSE:LNKD) LNKD.N (notified Oct. 14/deadline extended to Dec. 6 from Nov. 22 after concessions offered)

DEC 7

-- Dutch private equity firm SHV Holdings N.V. to acquire home and garden building materials producer Deli Home and Garden (notified Oct. 31/deadline Dec. 7/simplified)

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DEC 8

-- Chinese aviation and shipping group HNA Group to acquire a stake in Air France-KLM's AIRF.PA catering business Servair (notified Nov. 3/deadline Dec. 8)

-- U.S. private equity firm Towerbrook Capital Partners to acquire Dutch company Van Dijk Educatie Beheer B.V. (notified Nov. 3/deadline Dec. 8/simplified)

DEC 9

-- Private equity firm Nordic Capital and a group of investors to jointly acquire Swedish online bank Nordnet NNb.ST (notified Nov. 4/deadline Dec. 9/simplified)

-- French tire maker Michelin MICP.PA and Limagrain, which is part of holding company and seed producer vilmorein & Cie, to jointly acquire French engineering company Exotic Systems (notified Nov. 4/deadline Dec. 9/simplified)

DEC 13

-- Investment company Egeria Industrials to acquire packaging maker Clondalkin Industries CLOGHI.UL (notified Nov. 8/deadline Dec. 13/simplified)

-- Japanese company Nidec Corp 6594.T to acquire U.S. factory automation equipment maker Emerson Electric's EMR.N motors and electric power division (notified Nov. 8/deadline Dec. 13/simplified)

-- NEC Corp 6701.T and Sumitomo Mitsui Banking Corp SUMFGI.UL to jointly acquire Japanese joint venture Brees Corp (notified Nov. 8/deadline Dec. 13/simplified)

-- Swedish lender Nordea Bank NDA.ST and Norwegian financial group DNB Bank ASA BEAROBOSXDN.OL to jointly acquire Swedish technology company Relacom Management (notified Nov. 8/deadline Dec. 13/simplified)

-- French insurer Axa AXAF.PA and Danish public pension fund Arbejdsmarkedets Tillagspension to jointly acquire a Dutch hotel (notified Nov. 8/deadline Dec. 13/simplified)

DEC 14

-- Chinese industrial group Northeast Industries Group Co Lt, which is controlled by Chinese conglomerate North Industries Group Corp (Norinco) CNIGC.UL to acquire Delphi's mechatronics business (notified Nov. 9/deadline Dec. 14/simplified)

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-- Portuguese transport infrastructure company Brisa BAEP.UL and Spanish retailer Areas, which manages concession spaces in transport hubs, will create joint venture BAS to take over food activities in designated service areas in Portugal(notified Nov. 9/deadline Dec. 14/simplified)

DEC 15

-- Italian utility Enel ENEI.MI to acquire Italian fibre-optic company Metroweb which will merge with Enel Open Fiber, a joint venture with Italian state lender Cassa Depositi e Prestiti (CDP) (notified Nov. 10/deadline Dec. 15/simplified)

DEC 16

-- French naval defence company DCNS and French fund SPI to take joint control of DCNS Energies (notified Nov. 11/deadline Dec. 16/simplified)

-- French companies Engie Futures Energies ENGIE.PA , Omnes Capital and Predica Prevoyance Dialogue du Credit Agricole (PA:CAGR) to jointly control French wind farm company Maia Eolis, previously controlled exclusively by Engie Futures Energies (notified Nov. 11/deadline Dec. 16/simplified)

DEC 19

-- Germany's Deutsche Post AG DPWGn.DE to acquire UK postal operator UK Mail Group UKM.L (notified Nov. 14/deadline Dec. 19/simplified)

DEC 20

-- UK retail property developer Hammerson HMSO.L and Irish life insurance and pension company Irish Life Assurance IPMLA.UL to jointly acquire Ilac Shopping Centre in Dublin (notified 15/deadline Dec. 20/simplified)

DEC 21

-- Irish technology distribution company Exertis, which is part of DCC PLC DCC.L , to acquire UK data-storage company Hammer (notified Nov. 16/deadline Dec. 21)

-- Spanish publisher Grupo Planeta and Italian publisher De Agostini Libri to form joint venture publishing company DeA Planeta Libri in Italy(notified Nov. 16/deadline Dec. 21/simplified)

-- Funds managed by U.S. asset management company Bain Capital to acquire U.S. automotive business services provider MSX International MSXIN.UL (notified Nov. 16/deadline Dec. 21/simplified)

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DEC 22

-- Hewlett Packard Enterprise Services (HPES), IT services business of Hewlett Packard Enterprises HPE.N , to acquire U.S. IT services group Computer Sciences Corp CSC.N . Deal previously approved as CSC buying Hew Packard Enterprise Services on Sept. 19 (notified Nov. 17/deadline Dec. 22/simplified)

-- Coca Cola Company KO.N to buy 50 percent stake in Lithuanian mineral water producer Neptuno Vandenys from Coca Cola Hellenic Bottling Company CCH.L (notified Nov. 17/deadline Dec. 22)

-- Verizon Communications VZ.N to acquire U.S. internet company Yahoo YHOO.O (notified Nov. 17/deadline Dec. 22)

FEB 13

-- Deutsche Boerse DB1Gn.DE and the London Stock Exchange LSE.L plan to merge (notified Aug. 24/deadline extended to March 6 from Feb. 13 after the companies asked for more time)

FEB 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 Feb. 23 from Oct. 10 after the European Commission opened an in-depth investigation)

FEB 28

-- U.S. chemicals company Dow Chemical (NYSE:DOW) DOW.N to merge with DuPont (NYSE:DD) DD.N (notified June 22/deadline Feb. 28)

MARCH 29

-- 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 further extended to March 29 from March 15 following the request of both parties. The initial deadline of Oct. 28 was extended to March 15 after in-depth investigation opened)

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)

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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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