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EU mergers and takeovers (Aug 3)

Published 2017-08-03, 08:36 a/m
EU mergers and takeovers (Aug 3)
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BRUSSELS, Aug 3 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Chinese car parts maker Hubei Aviation Precision Machinery Technology Co. Ltd and Canadian peer Magna International MG.TO to set up a joint venture (approved Aug. 3)

-- U.S. communications infrastructure company Digital Bridge Holdings, Public Sector Pension Investment Board (PSPIB) and Teachers Insurance and Annuity Association of America (TIAA) to jointly acquire U.S. data centre operator Vantage Data Centres (approved Aug. 3)

-- U.S. private equity firm Advent International to acquire Danish packaging company Faerch Plast from Swedish buyout firm EQT (approved Aug. 3)

-- U.S. industrial company Deere & Co DE.N to acquire German road construction company Wirtgen (approved Aug. 3)

NEW LISTINGS

-- Brammer France SAS, owned by U.S. private equity firm Advent International, to acquire machine parts supplier Industrial Parts Holding (notified Aug. 1/deadline Sept. 6/simplified)

EXTENSIONS AND OTHER CHANGES

-- Swiss vending services provider Selecta, which is controlled by private equity firm KKR, to acquire Dutch peer Pelican Rouge (notified July 5/deadline Aug. 25)

FIRST-STAGE REVIEWS BY DEADLINE

AUG 4

-- Austrian construction company WIG Wietersdorfer Holding GmbH and Saudi Arabian Amiantit 2160.SE to set up a joint venture (notified June 29/deadline Aug. 4)

AUG 9

-- French carmaker Peugeot PEUP.PA and French bank BNP Paribas BNPP.PA to acquire joint control of U.S. carmaker General Motors (NYSE:GM)' GM.N financing subsidiaries and branches (notified July 4/deadline Aug. 9)

AUG 16

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-- Norwegian retailer Norgesgruppen and Swedish peer Axfood AXFO.ST to jointly acquire Swedish food retailer Eurocash Food AB (notified July 10/deadline Aug. 16)

AUG 17

-- Private equity group Ardian, the Netherlands' APG Asset Management and Dutch pension fund PGGM to jointly acquire control of LBC tank terminals (notified July 11/deadline Aug. 17/simplified)

AUG 21

-- Canadian pension fund OTPP, Canadian investment management company AIMCo, Canadian infrastructure manager Borealis, which administers the Ontario Municipal Employees Retirement System Primary Pension Plan, and fund manager KIA to jointly acquire British airport LCY (notified July 13/deadline Aug. 21/simplified)

AUG 22

-- Spanish bank Banco Santander SAN.MC to acquire peer Banco Popular Group (notified July 14/deadline Aug. 22)

-- German industrial group Bayer BAYGn.DE to acquire U.S. seeds company Monsanto (NYSE:MON) MON.N (notified June 30/deadline Aug. 22)

AUG 23

-- Asset management company Carlyle CG.O and private equity firm GTCR to jointly acquire contract research company Albany Molecular Research AMRI.O (notified July 17/deadline Aug. 23/simplified)

AUG 24

-- Luxembourg-based investment company Letterone to acquire British healthcare product retailer Holland & Barrett (notified July 18/deadline Aug. 24/simplified)

AUG 25

-- Danish shipping company AP Moller Maersk MAERSKb.CO and Denmark's Danske Bank DANSKE.CO to set up a joint venture (notified July 19/deadline Aug. 25/simplified)

-- U.S. scientific instruments maker Thermo Fisher Scientific (NYSE:TMO) TMO.N to acquire Dutch drugmaker Patheon PTHN.N (notified July 19/deadline Aug. 25)

-- Swiss vending services provider Selecta, which is controlled by private equity firm KKR, to acquire Dutch peer Pelican Rouge (notified July 5/deadline Aug. 25)

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AUG 28

-- Aerospace and marine product maker Moog Inc MOGa.N and Singapore Airlines Ltd's SIAL.SI engineering unit to set up a joint venture (notified July 24/deadline Aug. 28/simplified)

-- Dutch asset management company APG to acquire a portfolio of 48 project companies in Belgium, France, Germany, the Netherlands and the UK (notified July 20/deadline Aug. 28/simplified)

-- Private equity firm HGCapital to acquire software provider Visma HGCAPV.UL (notified July 20/deadline Aug. 28/simplified)

-- French oil major Total TOTF.PA , credit card payment services company Worldline S.A. WLN.PA and African fintech provider Intouch Corp to acquire joint control of digital payment services provider Intouch SAS (notified July 20/deadline Aug. 28/simplified)

-- Canadian asset manager Brookfield BAMa.TO and French energy company Engie ENGIE.PA to acquire joint control of British electricity wholesaler FHHGL (notified July 20/deadline Aug. 28/simplified)

AUG 29

-- French private equity firm Ardian to acquire engineering services provider Assystem Technologies' Global Product Solutions unit (notified July 24/deadline Aug. 29)

-- Norwegian metals company Norsk Hydro NHY.OL to acquire sole control of aluminium company Sapa, which is a joint venture with Norwegian conglomerate Orkla ASA ORK.OL (notified July 24/deadline Aug. 29/simplified)

AUG 31

-- French dairy company Groupe Lactalis to acquire German peer Omira (notified July 26/deadline Aug. 31)

-- Private equity firm CVC Capital CVC.UL to acquire Italian leather processing company Pasubio (notified July 26/deadline Aug. 31/simplified)

SEPT 1

-- Television holding groups ProSiebenSat.1 Media PSMGn.DE of Germany, France's TV group TF1 TFFP.PA and Mediaset MS.MI with networks in Italy and Spain to establish a joint venture selling advertising space (notified July 27/deadline Sept. 1/simplified)

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SEPT 4

-- VIMNI, Viacom's Italian branch, and publisher De Agostini Editore to jointly acquire DeA Broadcast, a new LLC programming creator (notified July 28/deadline Sept. 4/simplified)

SEPT 6

-- Pamplona Capital to acquire biopharmaceutical company Parexel (notified Aug. 1/deadline Sept. 6/simplified)

-- Brammer France SAS, owned by U.S. private equity firm Advent International, to acquire machine parts supplier Industrial Parts Holding (notified Aug. 1/deadline Sept. 6/simplified)

NOV 30

-- Private equity firm Bain Capital Investors to acquire German tyre wholesaler Reiff Tyre (notified July 25/deadline Aug. 30/simplified)

-- German brake systems maker Knorr-Bremse STELLG.UL to acquire Swedish peer Haldex HLDX.ST (notified June 1/deadline extended to Nov. 30 from July 24 the European Commission opened an in-depth investigation)

DEADLINE SUSPENDED

-- U.S. smartphone chipmaker Qualcomm QCOM.O to acquire Dutch company NXP Semiconductors NV NXPI.O (notified April 28/deadline suspended on June 28 after the companies failed to provide relevant information)

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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