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EU mergers and takeovers (April 1)

Published 2019-04-01, 06:50 a/m
Updated 2019-04-01, 06:50 a/m
© Reuters.  EU mergers and takeovers (April 1)

BRUSSELS, April 1 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Financial services company Great-West Lifeco's GWO.TO Irish Life and Clyde Property Fund and UK property developer Hammerson HMSO.L to jointly acquire a shopping centre in Dublin, Ireland (approved March 29)

-- Mercuria Energy Group to acquire marine fuel logistics company Aegean Marine Petroleum Network ANWWQ.PK (approved March 29)

-- Lufthansa Technik of Germany LUFT.UL and LG Electronics 066570.KS of South Korea to create in-flight entertainment and cabin management system joint venture (approved March 29)

-- France's Mirova and Bouyges Batiment International to acquire joint control of Bouygues (PA:BOUY) Construction Airport Concessions Europe (approved March 29)

-- India's HCL Technologies HCLT.NS to acquire sole control over four of IBM 's IBM (NYSE:IBM).N software product portfolios (approved March 29)

-- France's Caisse des Depots et Consignations CDCEC.UL and solar group Reden H2 to acquire joint control over French photovoltaic power plant company Berroute (approved March 29)

NEW LISTINGS

None

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

APRIL 17

-- GTCR LLC and U.K.'s Apax Partners LLP to acquire joint control of U.S.-based Dolphin TopCo (notified March 13/deadline April 17/simplified)

APRIL 24

-- Swedish telecoms provider Telia Company TELIA.ST to acquire Bonnier Broadcasting which cludes brands such as Swedish TV4 and streaming service C More and Finnish MTV (notified March 15/deadline April 24)

-- French fashion company LVMH LVMH.PA to acquire sole control over British hotel and travel operator Belmond Ltd BEL.N (notified March 15/deadline April 24/simplified)

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APRIL 25

-- French nursing home operator Financiere Colisee to acquire sole control over Belgian nursing home operator Armonea Group (notified March 18/deadline April 25/simplified)

APRIL 26

-- Liberty House Group to acquire sole control over steel companies Galati/Skopje HoldCo, Paloma S.r.l., ArcelorMittal Ostrava a.s., Liege Steel Industry SA and ArcelorMittal Dudelange S.A. (notified March 19/deadline April 26/simplified)

APRIL 30

-- Italy's doBank S.p.A. DOB.MI to acquire sole control over Altamira Asset Management S.A. and its affiliates with the exception of Altamira Asset Management Cyprus which will remain under joint control with Cyprus Cooperative Bank (notified March 21/deadline April 30/simplified)

-- France's Engie S.A. ENGIE.PA and Canada's Caisse de Depot et Placement du Quebec CDPDA.UL to obtain joint control over Brazil's Transportadora Associada de Gas S.A. (notified March 21/deadline April 30/simplified)

MAY 2

-- International power plant supplier Ansaldo Energia and Russia's REP Holding to create REPH Ansaldo Gas Turbine joint venture (notified March 22/deadline May 2/simplified)

-- U.S.-based private equity companies TA Associates Management and Vista Equity Partners Management to acquire joint control over Aptean Inc. MTMSS.UL and Yaletown Acquiror (notified March 22/deadline May 2/simplified)

MAY 3

-- Gemany's Daimler DAIGn.DE and China's Geely Technology Group to create a ride-hailing joint venture in China (notified March 25/deadline May 3/simplified)

MAY 6

-- Sev.en Energy Group will replace Ontario Teachers' Pension Plan Board to acquire joint control with China Huaneng Group HUANP.UL over InterGen B.V. (notified March 26/deadline May 6/simplified)

MAY 7

-- U.S. plastics maker Berry Global Group BERY.N to acquire British packager RPC RPC.L (notified March 27/deadline May 7/simplified)

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MAY 8

-- Private equity firm OEP Capital Advisors to acquire powertrain product maker Walterscheid Powertrain

MAY 13

-- Germany's Thyssenkrupp TKAG.DE and India's Tata Steel TISC.NS to set up a steel joint venture (notified Sept. 25/deadline extended to May 13 from April 29 after the companies asked for more time)

MAY 20

-- Electronic and motor manufacturing company Nidec 6594.T to acquire sole control of U.S. white goods maker Whirlpool (NYSE:WHR) Corp's WHR.N compressor subsidiary Embraco (notified Oct. 8/deadline extended to May 20 from May 13)

JUNE 3

-- UK mobile telephony provider Vodafone VOD.L to acquire U.S. Liberty Global's LBTYA.O telecommunications business in the Czech Republic, Germany, Hungary and Romania (notified Oct. 19/deadline June 3)

AUG 8

-- U.S. aluminum company Novelis NVLXC.UL , which is a unit of India's Hindalco Industries Ltd HALC.NS , to acquire aluminum processor Aleris (notified Feb. 18/deadline extended to Aug. 8 from March 25 after the European Commission opened an in-depth investigation)

DEADLINE SUSPENDED

-- German energy company E.ON EONGn.DE to acquire German peer Innogy's retail and network activities IGY.DE (notified Jan. 31/deadline suspended on March 22)

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.

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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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