Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

EU mergers and takeovers (May 24)

Published 2018-05-24, 11:26 a/m
© Reuters.  EU mergers and takeovers (May 24)

BRUSSELS, May 24 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- British paper company Mondi (LON:MNDI) MNDJ.J to acquire Finnish corrugated case materials maker Powerflute (approved May 23)

-- Japanese chemicals company Kuraray 3405.T , Thai petrochemicals group PTT Global Chemical Public Company PTTGC.BK and Japan's Sumitomo Corp 8053.T to set up a joint venture (approved May 23)

-- French prepaid meal voucher and card provider Edenred EDEN.PA to increase its stake in fuel cards issuer UTA (approved May 23)

NEW LISTINGS

-- German travel group TUI TUIGn.DE to acquire Spain's Hotelbeds Group's destinations services business (notified May 23/deadline June 27/simplified)

-- U.S. asset manager Blackstone (NYSE:BX) BX.N to acquire Spanish gaming company Cirsa (notified May 22/deadline June 26/simplified)

-- German company BASF BASFn.DE to acquire Belgian chemicals company Solvay 's SOLB.BR worldwide polyamide business (notified May 22/deadline June 26)

-- Austrian construction company Strabag STRV.VI and German peer Max Boegl International to set up a joint venture (notified May 22/deadline June 26/simplified)

-- Investment bank Goldman Sachs (NYSE:GS) GS.N and private equity firm Antin Infrastructure Partners to jointly acquire British fibre network operator Cityfibre Infrastructure Holdings CITYC.L (notified May 15/deadline June 20/simplified)

-- Canadian private equity firm Onex and U.S. investment fund Vista to acquire joint control of software company Severin Topco (notified May 14/deadline June 19/simplified)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

MAY 28

-- U.S coatings maker Axalta Coating Systems AXTA.N to acquire wire enamel manufacturer IVA's European and Chinese operations (notified April 16/deadline May 28)

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

MAY 30

-- U.S. cable company Liberty Global LBTYA.O to acquire Dutch peer Ziggo (notified April 4/deadline extended to May 30 from May 15 after Liberty Global offered concessions)

-- Global asset management company Carlyle CG.O and U.S. investment company TA Associates to jointly acquire sales marketing company Discoverorg which is now solely controlled by TA Associates (notified April 18/deadline May 30/simplified)

MAY 31

-- Swedish bank Skandinaviska Enskilda Banken AB (SEB) SEBa.ST to acquire lamp maker Aura Light International AB (notified April 19/deadline May 31/simplified)

-- Private equity firm Advent International to acquire British electronics and technnology company Laird LRD.L (notified April 19/deadline May 31/simplified)

JUNE 1

-- Swiss engineering company ABB ABBN.S to acquire General Electric (NYSE:GE)'s GE.N industrial solutions business (notified April 20/deadline June 1)

JUNE 5

-- Canadian pension fund OTPP and asset management company Carlyle Group CG.O to jointly acquire French campsite operator European Camping Group, which is now solely controlled by Carlyle Group (notified April 24/deadline June 5/simplified)

JUNE 6

-- UK private equity group 3i Group Plc III.L to acquire a 35 percent stake in ferry operator Scandlines after selling the company to infrastructure funds First State Investments and Hermes Investment Management (notified April 25/deadline June 6/simplified)

-- Japanese electronics company Alps Electric Co 6770.T to acquire Japanese car infotainment systems maker Alpine Electronics 6816.T (notified April 25/deadline June 6/simplified)

JUNE 7

-- German power grid makers Stadtwerke Olching and Bayernwerk Net to set up two joint ventures (notified April 26/deadline June 7/simplified)

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

JUNE 8

-- Private equity firm One Equity Partners to acquire packaging company Walki Holding (notified April 27/deadline June 8/simplified)

JUNE 11

-- Investment firm HPS Investment Partners and Madison Dearborn Partners to acquire joint control of UK insurance broker Capita Specialist Insurance Soluions Ld (notified April 30/deadline June 11/simplified)

-- U.S. insurer American International Group (NYSE:AIG) AIG.N to acquire Bermuda-based reinsurer Validus Holdings Ltd VR.N (notified April 30/deadline June 11/simplified)

JUNE 12

-- South African chemicals company Tronox TROX.N to acquire the titanium dioxide business of Cristal, a subsidiary of Saudi Arabia's Tasnee (notified Nov. 15/deadline extended to June 12 from June 7)

-- 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 June 12)

JUNE 13

-- Private equity firm Rhone Capital LLC and founders of swimming pool equipment maker Fluidra to acquire joint control of the merged Fluidra and its peer Zodiac Holdco (notified May 3/deadline June 13)

JUNE 14

-- Private equity funds Altor Funds to acquire Swedish packaging company Trioplast Idustrier (notified May 4/deadline June 14/simplified)

-- Private equity firm AEA Investors and investment firm British Columbia Investment Management Corp to acquire joint control of window coverings maker SIWF Holdings Inc (Springs) (notified May 4/deadline June 14/simplified)

-- Private equity firm Platinum Equity to acquire U.S. pharmaceutical company Johnson & Johnson (NYSE:JNJ)'s JNJ.N blood glucose monitoring business LifeScan (notified May 4/deadline June 14/simplified)

-- U.S. real estate investment company Kennedy Wilson KW.N and French insurer Axa AXAF.PA to set up a joint venture (notified May 4/deadline June 14/simplified)

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

JUNE 15

-- U.S. tyre maker Goodyear and Japanese peer Bridgestone 5108.T to acquire joint control of joint venture Tirehub, which will combine the U.S. tyre wholesale distribution businesses of both companies (notified May 7/deadline June 15/simplified)

-- Finnish utility Fortum FORTUM.HE to acquire a controlling stake in German peer Uniper UN01.DE from German energy company E.ON EONGn.DE (notified May 7/deadline June 15)

-- U.S. cable operator Comcast's CMCSA.O to acquire British pay-TV company Sky SKYB.L (notified May 7/deadline June 15)

JUNE 18

-- Private equity firms HG Capital and TA Associates to acquire joint control of software company Access Group, which is now solely controlled by TA (notified May 8/deadline June 18/simplified)

JUNE 19

-- Oaktree Capital Group and Spanish real estate holding company Bitarte, which is a unit of Spanish bank Banco de Sabadell SABE.MC , to set up a joint venture (notified May 14/deadline June 19/simplified)

JUNE 20

-- UK infrastructure management company AMP Capital and Spanish airport infrastructure management company Aena Internacional to jointly acquire Luton Airport (notified May 15/deadline June 20/simplified)

JUNE 25

-- U.S. private equity firms HPS Investment Partners and Madison Dearborn Partners to acquire joint control of UK risk management services provider Professional Fee Protection Ltd (notified May 18/deadline June 25/simplified)

-- T-Mobile Austria, which is a unit of German telecoms company Deutsche Telekom DTEGn.DE , to acquire UPC Austria, which is a subsidiary of cable operator UPC (notified May 18/deadline June 25)

JUNE 26

-- Private equity firm Permira to acquire tech software company Exclusive Group (notified May 22/deadline June 26/simplified)

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

-- German companies Thyssen Alfa and Max Aicher Recycling to acquire joint control of Noris Metallrecycling (notified May 22/deadline June 26/simplified)

-- Chinese car parts maker Beijing Automotive Group's subsidiary BHAP and Spanish peer Gestamp Automocion GEST.MC to set up a joint venture (notified May 18/deadline June 26/simplified)

AUG 9

-- 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. 9)

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)

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.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.