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EU mergers and takeovers (March 26)

Published 2019-03-26, 01:44 p/m
Updated 2019-03-26, 01:50 p/m
© Reuters.  EU mergers and takeovers (March 26)

BRUSSELS, March 26 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- DA Agravis Machinery Holding and Danish Agro Machinery Holding to acquire Kesko Group's agrimachinery activities in Finland, Estonia, Latvia and Lithuania from Finnish subsidiary Konekesko Oy (approved March 25)

-- U.S. tech and consulting services provider DXC Technology DXC.N to acquire U.S. software development company Luxoft Holding LXFT.BN (approved March 25)

-- Japan's CK Holdings Co, which is owned by KKR KKR.N, to acquire Italian car parts maker Magneti Marelli from Italian auto maker Fiat Chrysler Automotives FCHA.MI (approved March 14)

NEW LISTINGS

-- 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)

-- 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)

EXTENSIONS AND OTHER CHANGES

-- U.S. aluminum company Novelis NVLXC.UL , which is a unit of India's Hindalco Industries Ltd HALC.NS , to acquire aluminum processor Aleris (in-depth investigation opened by Commission on March 25)

-- 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)

FIRST-STAGE REVIEWS BY DEADLINE

MARCH 27

-- Swiss chemicals company Sika SIKA.S to acquire French rival Parex from private equity firm CVC Capital Partners (notified Feb. 20/deadline March 27)

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MARCH 28

-- ArcelorMittal MT.AS and Italy's CLN Group to acquire joint control over two Italian steel service centers of the Ilva Group (notified Feb. 21/deadline March 28)

MARCH 29

-- Financial services company Great-West Lifeco's Irish Life and Clyde Property Fund and UK property developer Hammerson to jointly acquire a shopping centre in Dublin, Ireland (notified Feb. 22/deadline March 29)

APRIL 9

-- India's HCL Technologies HCLT.NS to acquire sole control over four of IBM 's IBM (NYSE:IBM).N software product portfolios (notified March 5/deadline April 9/simplified)

-- 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 (notified March 5/deadline April 9/simplified)

-- France's Mirova and Bouyges Batiment International to acquire joint control of Bouygues (PA:BOUY) Construction Airport Concessions Europe (notified March 5/deadline April 9/simplified)

APRIL 11

-- Mercuria Energy Group to acquire marine fuel logistics company Aegean Marine Petroleum Network ANWWQ.PK (notified March 7/deadline April 11/simplified)

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)

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)

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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 (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)

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)

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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