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EU mergers and takeovers (Dec 14)

Published 2018-12-14, 11:01 a/m
Updated 2018-12-14, 11:10 a/m
© Reuters.  EU mergers and takeovers (Dec 14)

BRUSSELS, Dec 14 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Chinese electronic manufacturer Haier Group 1169.HK to acquire Italian domestic appliance manufacturer Candy S.p.A. (approved Dec. 13)

-- Grains merchant Archer Daniels Midland ADM.N to acquire French animal feed business Neovia (approved Dec. 11)

-- French energy company Engie ENGIE.PA to acquire joint control of Windplus with utility company EDP Renewables and energy company Repsol (MC:REP) Nuevas Energias (approved Dec. 11)

-- Japanese car maker Toyota Motor Corp 7203.T and Monet Technologies Corporation, jointly controlled by Japanese SoftBank Corporation 9434.T , to set up a Japanese software platform joint venture (approved Dec. 12)

-- New York private investment firm Cerberus Group to acquire UK creative brand merchandising solutions company Marke Creative Merchandise (approved Dec. 12)

-- German energy company E.ON EONGn.DE , via its subsidiary E.ON Drive Infrastructure, and Finnish energy company Helen Oy to acquire joint control of Finnish e-mobility software company Liikennevirta Oy (approved Dec. 6)

NEW LISTINGS

-- Agricultural merchant Cargill CARGIL.UL and grains trader Archer Daniel Midland ADM.N to set up a joint venture (notified Dec. 13/deadline Jan. 29/simplified)

-- German industrial company Siemens SIEGn.DE and TRIL Urban Transport Private Limited to set up an Indian rail joint venture (notified Dec. 4/deadline Jan. 18/simplified)

EXTENSIONS AND OTHER CHANGES

-- Siemens SIEGn.DE and Alstom ALSO.PA to merge their railway operations (notified June 8/deadline extended to Feb. 18 from Jan. 28 after the companies offered concessions)

-- Australian packaging company Amcor AMC.AX to acquire U.S. peer Bemis BMS.N (notified Dec. 12/deadline Jan. 28/withdrawn Dec. 12)

FIRST-STAGE REVIEWS BY DEADLINE

DEC 21

-- Investment fund IFM Investors and commodities trader Vitol to jointly acquire oil products terminal operator VTTI, which is now jointly controlled by Vitol Holding BV and Buckeye Partners (notified Dec. 5/deadline Jan. 21/simplified)

-- CP VII, a fund managed by global alternative asset manager Carlyle CG.O , to acquire risk management services provider Sedgwick (notified Nov. 16/deadline Dec. 21)

-- Investment company BC European Capital X to acquire indirect sole control of South East Europe telecoms and media provider United Group ABBI.UL (notified Nov. 16/deadline Dec. 21)

JAN 3

-- Japanese steel trading company Metal One Corp, a subsidiary of Mitsubishi Corp 8058.T , and trading and investment company Sumitomo Corporation 8053.T to acquire joint control of Metal One Pipe & Tubular Products Inc., a subsidiary of Metal One (notified Nov. 19/deadling Jan. 3/simplified)

JAN 4

-- U.S. soft drinks company Coca-Cola (NYSE:KO) Co KO.N to acquire coffee chain Costa (notified Nov. 20/deadline Jan. 4)

JAN 8

-- Japanese industrial company MinebeaMitsumi 6479.T to acquire Japanese peer U-Shin 6985.T (notified Nov. 22/deadline Jan. 8/simplified)

JAN 9

-- Autolaunch and Beijing Automotive Group BEJINS.UL subsidiary Beijing Electric Vehicle Co to set up a joint venture (notified Nov. 23/deadline Jan. 9/simplified)

-- China Reinsurance Group Corp 1508.HK to acquire insurer Chaucer from U.S. insurer Hanover Insurance Group THG.N (notified Nov. 23/deadline Jan. 9/simplified)

JAN 10

-- Turkish pension fund OYAK to acquire Portuguese cement producer Cimpor (notified Nov. 26/deadline Jan. 10/simplified)

-- Qatari Diar Real Estate Investment Company Q.P.S.C., a subsidiary of the Qatar Investment Authority, will acquire joint control alongside DV4 Limited, Oxford Jersey Holding Company Limited and Stichting Depositary APG Strategic Real Estate Pool over an existing UK real estate undertaking (notified Nov. 26/deadline Jan. 10/simplified)

-- Private investment manager Apollo Management APOLO.UL to acquire Bermuda insurance company Aspen Insurance Holdings Limited AHL.N (notified Nov. 26/deadline Jan. 10/simplified)

JAN 11

-- Japanese trading company Sumitomo Corp 8053.T and Japan's Toyota Motor Corp 7203.T to launch a Japanese full-function joint venture, MOBILOTS Corp, to supply financing for vehicles (notified Nov. 27/deadline Jan. 11/simplified)

-- Japanese trading company Sumitomo Corp 8053.T and Japanese Toyota Motor Corp 7203.T to launch a Japanese full-function joint venture, KINTO Corp, to supply mobility services (notified Nov. 27/deadline Jan. 11/simplified)

-- German drink producer and distributor Dr. August Oetker Finanzierungs- und Beteiligungs-GmbH to acquire 49 percent of German F & B - Food and Beverage Services GmbH, a subsidiary of Transgourmet Deutschland GmbH & Co. (notified Nov. 27/deadline Jan. 11/simplified)

JAN 15

-- MML Capital Partners Fund VI GP Ltd to acquire joint control of Peggy Holdco Limited, a subsidiary of Australian funds management company Macquarie European Investment Holdings Limited (notified Nov. 29/deadline Jan. 15/simplified)

-- A6 Invest 9 TF, acting on behalf of Astorg Asset Management, and Montagu Private Equity LLP to acquire joint control of plastic drug delivery systems manufacturer, Nemera Capital and its subsidiaries (notified Nov. 29/deadline Jan. 15/simplified)

-- French logistics services company Bollore Africa Logistics and Dutch operator of container terminals APM Terminals BV to acquire joint control of Ivory Coast container terminal constructor Cote d'Ivoire Terminal (notified Nov. 29/deadline Jan. 15/simplified)

JAN 18

-- Private equity fund Equistone Partners Europe to acquire French sporting goods retailer Courir (notified Dec. 4/deadline Jan. 18/simplified)

-- Swiss distributor of IT products and services SoftwareONE Holding to acquire sole control of German distributor of IT products and services COMPAREX AH PCWG.UL (notified Dec. 4/deadline Jan. 18/simplified)

JAN 21

-- Distributor of auto parts Digital Auto Parts, controlled by private equity investment firm Bain Capital investors, to acquire online retail auto parts distributor Oscaro Group (notified Dec. 5/deadline Jan. 21/simplified)

JAN 23

--Dutch financial services group NN Group NN.AS and German insurer Allianz ALVG.DE to jointly acquire eight property companies (notified Dec. 7/deadline Jan. 23/simplified)

-- India's UPL Corp UPLL.NS to acquire U.S. chemicals maker Platform Specialty Products Corp's agrochemicals business Arysta LifeScience (notified Dec. 7/deadline Jan. 23)

JAN 25

-- German company BASF BASFn.DE to acquire Belgian chemicals company Solvay 's SOLB.BR worldwide polyamide business (notified May 22/deadline Jan. 25/concessions offered on Oct. 15)

FEB 2

-- 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 Feb. 2 from Jan. 17 after Wieland-Werke submitted concessions)

MAR 26

--- 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 March 26 from March 19 after the companies asked for more time)

APRIL 15

-- 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 April 15 from Nov. 28 after the European Commission opened an in-depth investigation)

APRIL 16

-- Steel company Aperam APAM.AS to acquire Netherlands producer of materials from nickel and nickel alloy VDM Metals Holding (notified Oct. 23/deadline extended to April 16 from Nov. 29 after the European Commission opened an in-depth investigation)

MAY 2

-- 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 Nov. 27/deadline extended to May 2 after the European Commission opened an in-depth investigation)

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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