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EU mergers and takeovers (July 23)

Published 2018-07-23, 12:19 p/m
© Reuters.  EU mergers and takeovers (July 23)

BRUSSELS, July 23 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Private equity firm Blackstone (NYSE:BX) BX.N to acquire a majority stake in Thomson Reuters' TRI.TO Financial and Risk (F&R) unit (approved July 20)

-- Finnish biofuel company Neste NESTE.HE to acquire a majority stake in Dutch animal fat trader Demeter Animal Fats and Proteins (approved July 20)

-- Swiss asset manager Partners Group Holding PGHN.S to acquire German metering company Techem from Macquarie (approved July 20)

-- German DIY retail chains Raiffeisen Ware Austria AG and ZG Raiffeisen to set up a joint venture (approved July 20)

NEW LISTINGS

-- U.S. consumer products maker Procter & Gamble PG.N to acquire German peer Merck (NYSE:MRK) KGaA's MRCG.DE consumer health business (notified July 20/deadline Aug. 27)

-- U.S. cargo shipping company Maritime Holdings and German peer Zeaborn to set up a joint venture (notified July 20/deadline Aug. 27/simplified)

-- Private equity firm Blackstone BX.N to acquire French storage maker Averys (notified July 20/deadline Aug. 27/simplified)

EXTENSIONS AND OTHER CHANGES

-- 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 Nov. 29 from July 23 after the European Commission opened an in-depth investigation)

-- French aerospace and defence group Thales TCFP.PA to acquire Franco-Dutch chipmaker Gemalto GTO.AS (notified June 18/deadline extended to Nov. 29 from July 23 after the European Commission opened an in-depth investigation)

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FIRST-STAGE REVIEWS BY DEADLINE

JULY 25

-- German construction products maker Knauf International to acquire U.S. peer Armstrong World Industries' AWI.N EMEA and Pacific Rim businesses (notified June 20/deadline July 25)

JULY 27

-- German company Oetker Group to acquire a majority stake in Spanish sparkling wine producer Freixenet (notified June 22/deadline July 27)

-- Czech investment group PPF Group to acquire Norwegian telecoms provider Telenor 's TEL.OL central European businesses (notified June 22/deadline July 27)

-- Macquarie Group MQG.AX and Goldman Sachs (NYSE:GS) GS.N to jointly acquire Dutch terminal operator HES International (notified June 22/deadline July 27)

JULY 30

-- Irish fresh food producer Total Produce T7O.I to acquire a 45-percent stake in U.S. peer Dole Food Company DFCI.UL (notified June 11/deadline extended to July 30 from July 16 after Total offered concessions)

AUG 1

-- 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 Aug. 1 from July 18 after the companies offered concessions)

AUG 2

-- Italian car rental company Eurocar, which is a unit of German carmaker Volkswagen eurocar VOWG_p.DE , to acquire sole control of Italian peer Bonaldi (notified June 28/deadline Aug. 2)

AUG 3

-- Swiss logistics company Kuehner+Nagel KNIN.S and Singapore state-owned investment company Temasek to set up a joint venture (notified June 29/deadline Aug. 3/simplified)

-- French insurer Axa AXAF.PA to acquire German peer Roland (notified June 29/deadline Aug. 3/simplified)

AUG 7

-- Algerian state-owned oil and gas company Sonatrach to acquire an Italian refinery from Exxon Mobil (NYSE:XOM) XOM.N (notified July 3/deadline Aug. 7/simplified)

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-- U.S. powertrain technology company Tenneco TEN.N to acquire car parts maker Federal Mogul (notified July 3/deadline Aug. 7)

AUG 8

-- Singapore state-owned property developer GIC Group and real estate developers Frasers Property Ltd JustGroup to set up a joint venture (notified July 4/deadline Aug. 8/simplified)

-- Private equity firm Bain Capital to acquire German tyre company Reifen Krieg Group (notified July 4/deadline Aug. 8/simplified)

AUG 9

-- Private equity firm KKR KKR.N to acquire British restaurant operator Casual Dining Bidco BLASTT.UL (notified July 5/deadline Aug. 9/simplified)

-- Holding company Elixia, which is controlled by Nordic private equity firm Altor Fund III, and Tryghedsgruppen, whose members are policyholders of insurer Tryg TRYG.CO , to jointly acquire fitness chain Fitness DK Holding (notified July 5/deadline Aug. 9/simplified)

-- French consumer credit provider CA Consumer Finance S.A. and Spanish bank Bankia BKIA.MC to set up a joint venture (notified July 5/deadline Aug. 9/simplified)

-- Japan's Sumitomo Corp 8053.T and Belgian wind farm developer Parkwind to jointly acquire Belgian wind farm operator Northwester2 (notified July 5/deadline Aug. 9/simplified)

AUG 10

-- Chinese domestic appliance maker Hisense 600060.SS to acquire Slovenian peer Gorenje (notified July 6/deadline Aug. 10/simplified)

-- Fertiliser company Uralchem to acquire sole control of Russian potash producer Uralkali URKA.MM (notified July 6/deadline Aug. 10/simplified)

AUG 16

-- U.S. private equity firms Clearlake Capital Group and Vista to acquire joint control of U.S. aerial imagery and software company Eagleview Technology Corp (notified July 11/deadline Aug. 16/simplified)

-- Oxford Jersey Holding Company Limited, Dutch investment fund ABP, real estate investment fund DV4 and Qatari Diar Real Estate Investment Company to acquire joint control of British real estate developer (notified July 11/deadline Aug. 16/simplified)

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AUG 17

-- French insurer Axa AXAF.PA to acquire XL Group (notified July 12/deadline Aug. 17/simplified)

-- 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 Aug. 17)

AUG 20

-- U.s. investment company Cerberus Group to acquire French ground handling services operator WES Global Holding (notified July 13/deadline Aug. 20/simplified)

AUG 21

-- Norway's DNB Bank DNB.OL and Norwegian consumer goods company Orkla ORK.OL to set up a joint venture (notified July 16/deadline Aug. 21/simplified)

-- Private equity firm KKR KKR.N to acquire German IT services provider Sellbytel Group (notified July 16/deadline Aug. 21/simplified)

AUG 22

-- Private equity firm HgCapital to acquire software company Allocate from private equity firm Vista Equity Partners (notified July 17/deadline Aug. 22)

AUG 23

-- Private equity firms S.L.04 and Ambienta SFT to acquire joint control of cosmetic packager Pibiplast S.p.A. (notified July 18/deadline Aug. 23/simplified)

AUG 24

-- German industrial gases group Linde LING.DE to merge with U.S. peer Praxair (NYSE:PX) PX.N (notified Jan. 12/ deadline extended to Aug. 24)

SEPT 4

-- iPhone maker Apple AAPL.O to acquire UK music streaming service Shazam (notified March 14/deadline extended to Sept. 4 from April 23 after the European Commission opened an in-depth investigation)

OCT 31

-- German company BASF BASFn.DE to acquire Belgian chemicals company Solvay 's SOLB.BR worldwide polyamide business (notified May 22/deadline extended to Oct. 31 from June 26 after the European Commission opened an in-depth investigation)

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NOV 16

-- 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 extended for the second time to Nov. 16 from Nov. 9 after the companies asked for more time)

DEC 19

-- Siemens SIEGn.DE and Alstom ALSO.PA to merge their railway operations (notified June 8/deadline extended to Dec. 19 from Nov. 21 after the companies asked for more time)

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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