EU mergers and takeovers (Aug 30)

Reuters  |  Author 

Published Aug 30, 2018 10:58

EU mergers and takeovers (Aug 30)

BRUSSELS, Aug 30 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Canadian real estate investor Ivanhoe Cambridge, which is a subsidiary of Canadian pension manager Caisse de depot et placement du Quebec, and Canada's Public Sector Pension Investment Board to recapitalise several Ivanhoe limited partnerships (approved Aug. 30)

-- Canadian real estate investor Ivanhoe Cambridge and Canada's Public Sector Pension Investment Board to set up a joint venture (approved Aug. 30)

-- Asset manager Carlyle Group CG.O to acquire Dutch chemicals and paints company Akzo Nobel 's AKZO.AS chemicals business (approved Aug. 28)

NEW LISTINGS

-- U.S. plane maker Boeing (NYSE:BA) BA.N to acquire aerospace parts company KLX KLXI.O (notified Aug. 29/deadline Oct. 3)

-- Canada's Public Sector Pension Investment Board and Canadian institutional investor British Columbia Investment Management Corporation (BCI) to acquire joint control of Canadian forest product company Island Timberlands (notified Aug. 27/deadline Oct. 1/simplified)

-- Private equity firm EQT Fund Management to acquire Luxembourg specialty chemicals and food ingredients distributor Azelis AZELI.UL (notified Aug. 27/deadline Oct. 1/simplified)

-- German alphalt maker Deutsche Asphalt, which is a subsidiary of Austrian construction company Strabag STRV.VI , and German road construction company Bunte to set up a joint venture (notified Aug. 21/deadline Sept. 25/simplified)

-- Private equity firm Advent International to acquire General Electric (NYSE:GE)'s GE.N distributed power business (notified Aug. 20/deadline Sept. 24/simplified)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

AUG 31

-- HK conglomerate CK Hutchison 0001.HK to acquire sole control of Italian mobile network Wind Tre from Dutch mobile operator Veon VON.AS (notified July 12/deadline extended to Aug. 31 from Aug. 17 after Hutchison offered concessions)

SEPT 5

-- Luxembourg investment company JAB Holding Co S.a.r.l. to acquire British food outlet Pret a Manger IPO-PRET.L (notified July 31/deadlinie Sept. 5)

SEPT 12

-- Italian gas company Spigas, which is controlled by Germany's EnBW Energie BadenWürttemberg EBKG.DE , and Italian peer Canarbino to acquire joint control of Italian gas company Miogas (notified Aug. 7/deadline Sept. 12/simplified)

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SEPT 13

-- German car parts supplier ZF Friedrichshafen ZFF.UL , German car brakes maker Gustav Magenwirth, German bike brakes maker Brake Force One GmbH and German car battery company Batterien-Montage-Zentrum GmbH to set up a joint venture (notified Aug. 8/deadline Sept. 13/simplified)

SEPT 14

-- French transport company Keolis and British infrastructure asset management company Amey FERAC.UL to acquire joint control of British passenger rail services company W&B Rail Franchise (notified Aug. 9/deadline Sept. 14/simplified)

SEPT 17

-- International Flavors & Fragrances Inc IFF.N to acquire Israeli flavours and ingredients maker Frutarom FRUT.TA (notified Aug. 10/deadline Sept. 17/simplified)

SEPT 18

-- iPhone maker Apple AAPL.O to acquire UK music streaming service Shazam (notified March 14/deadline extended to Sept. 18 from Sept. 4 after the companies asked for more time)

SEPT 19

-- German carmaker Volkswagen's VOWG_p.DE Italian car dealer Eurocar to acquire Italian peer Vicentini (notified Aug. 14/deadline Sept. 19)

-- Private equity firm KKR KKR.N to acquire U.S. business software company BMC Software (notified Aug. 14/deadline Sept. 19/simplified)

-- French carmaker PGA Motors and Fiber to acquire joint control of auto dealer and car parts distributor Bernard Participations (notified July 31/deadline extended to Sept. 19 from Sept. 5 after the French competition authority asked to take over the case)

SEPT 20

-- Norwegian investment company Akastor AKAS.OL , Japanese trading company Mitsui & Co 8031.T and Japanese container shipping company Mitsui OSK Lines 9104.T to acquire joint control of subsea oil and gas services company Akofs Offshore (notified Aug. 16/deadline Sept. 20/simplified)

SEPT 21

-- U.S. pharmaceutical company Biogen BIIB.O and South Korean peer Samsung (KS:005930) BioLogics 207940.KS to have joint control of South Korean drugmaker Samsung Bioepis to set up a joint venture (notified Aug. 17/deadline Sept. 21/simplified)

-- Norwegian aluminium maker Norsk Hydro NHY.OL to acquire some of Anglo-Australian mining company Rio Tinto 's RIO.L RIO.AX aluminium production assets (notified Aug. 17/deadline Sept. 21)

SEPT 24

-- French energy company Total TOTF.PA to acquire gasd turbine power plant operators Pont Sur Sambre Power and Toul Power (notified Aug. 20/deadline Sept. 24/simplified)

-- Real estate investment fund DV4, Dutch pension fund ABP and Canada's Ontario Municipal Employees Retirement System Primary Pension Plan to set up a British property joint venture (notified Aug. 20/deadline Sept. 24/simplified)

SEPT 26

-- U.S. private equity fund Charlesbank Partners Group to acquire joint control of contract food maker H-Food Holdings and the Hearthside group of companies HGHL.UL (notified Aug. 22/deadline Sept. 26/simplified)

SEPT 27

-- Kuwait's sovereign wealth fund Kuwait Investment Authority to acquire oil and gas pipeline firm North Sea Midstream Partners from private equity firm ArcLight Capital (notified Aug. 23/deadline Sept. 27/simplified)

-- U.S. planemaker Boeing BA.N and French aerospace company Safran SAF.PA to set up a joint venture to make and service aircraft auxiliary power units (notified Aug. 23/deadline Sept. 27)

SEPT 28

-- Private equity firm KKR KKR.N and French telecoms provider Altice NUMCF.PK to acquire joint control of Altice's French subsidiary SFR Filiale (notified Aug. 24/deadline Sept. 28/simplified)

-- U.S. management company Abry Partners to acquire Norwegian A2P messaging company Link Mobility ASA LINK.OL (notified Aug. 24/deadline Sept. 28/simplified)

NOV 30

-- Deutsche Telekom DTEGn.DE to acquire Swedish peer Tele2 's TEL2b.ST Dutch unit and merge it with its Dutch business T-Mobile Nederland (notified May 2/deadline Nov. 30 after deadline suspension ended Aug. 6)

DEC 13

-- Copper company KME, which is part of Intek Group IKG.MI , to acquire German peer MKM Mansfelder Kupfer and Messing GmbH (notified June 4/deadline extended to Dec. 13 from Nov. 29 after the companies asked for more)

JAN 3

-- German copper products maker Wieland-Werke to acquire German copper smelter Aurubis' NAFG.DE flat rolled products unit Products Schwermetall (notified June 13/deadline extended to Jan. 3 from Dec. 10 after the companies asked for more time)

JAN 8

-- French aerospace and defence group Thales TCFP.PA to acquire Franco-Dutch chipmaker Gemalto GTO.AS (notified June 18/deadline extended to Jan. 8 from Nov. 29 from July 23 after the companies asked for more time)

SUSPENDED DEADLINE

-- Siemens SIEGn.DE and Alstom ALSO.PA to merge their railway operations (notified June 8/deadline suspended on Aug. 7)

-- German company BASF BASFn.DE to acquire Belgian chemicals company Solvay 's SOLB.BR worldwide polyamide business (notified May 22/deadline suspended on July 17)

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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