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EU mergers and takeovers (Nov 5)

Published 2018-11-05, 08:58 a/m
© Reuters.  EU mergers and takeovers (Nov 5)

BRUSSELS, Nov 5 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- SELP, a joint venture between Luxembourg industrial property and warehouse owner SEGRO European Logistics Partnership SGRO.L , and Canadian pension fund investor Public Sector Pension Investment Board to acquire a Spanish distribution warehouse from French company ID Logistics Group IDLA.PA (approved Oct. 25)

-- Saudi oil company Saudi Aramco to acquire the rest of Dutch chemicals company Arlanxeo which it does not own (approved Oct. 25)

-- Private equity firm BC Partners to acquire British veterinary practice group VetPartners (approved Oct. 25)

-- Japanese company Sony Corp. 6758.T to acquire majority control of UK music publishing company EMI Music Publishing (approved Oct. 26)

-- U.S. investment management company Rhone Capital to acquire industrial company Maxam (approved Oct. 26)

-- U.S. pet food maker Mars Petcare to acquire European veterinary business Anicura (approved Oct. 29 after Mars offered concessions)

-- German car part maker Continental Automotive Holding CONG.DE and Chinese battery and power system manufacturer Sichuan Chengfei Integration Technology Corporation 002190.SZ to set up an electric vehicle battery systems joint venture (approved Oct. 29)

-- Italian natural gas companies Societa Gasdotti Italian and Snam SRG.MI to launch an Italian natural gas joint venture (approved Oct. 29)

-- Shanghai travel and hospitality group Jin Jiang International Holdings to acquire Radisson Holdings Incorporated and 69.65 percent of hotel operator Radisson Hospitality RADH.ST (approved Nov. 2)

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-- Private quity fund OEP ITS Coopertief Holding to acquire Norwegian software licensing and IT consulting services firm Crayon Group Holding CRAYON.OL (approved Nov. 2)

NEW LISTINGS

-- Canadian Public Sector Pension Investment Board, Canadian Brookfield Asset Management BAMa.TO , Canadian QuadReal Property Group Limited Partnership and BREP Brazil Private Limited to acquire joint control of Brookfield Brazil Retail Fundo de Investimentos em Participacoes Multiestrategia (notified Oct. 23/deadline Nov. 29/simplified)

-- Canadian Brookfield Asset Management BAMa.TO to acquire through purchase of shares sole control of French real estate companies M Finance Capital and ECLA Paris Massy-Palaiseau Companies (notified Oct. 19/deadline Nov. 27/simplified)

-- Energy service provider GETEC Warme & Effizienz, managed by EQT Fund Management, to acquire 50.1 percent of shares in heat, electricity, telecommunications and electromobility services company PionierWerk Hanau (notified Oct. 22/deadline Nov. 28/simplified)

-- Banking, financial and insurance company Banca Generali (MI:GASI) BGN.MI and Danish investment bank Saxo Bank to acquire joint control over a newly-created company constituting a full-function joint venture in Italian online trading and investment services (notified Oct. 25/deadline Dec. 03/simplified)

-- U.S. investment management firm Centerbridge Partners to acquire sole control over UK-based General Healthcare Group (GHG) through the indirect acquisition of shares and the amendment of governance arrangements of GHG, making Hospital Topco Limited the parent company of GHG (notified Oct. 29/deadline Dec. 05/simplified)

-- U.S. asset manager Blackstone (NYSE:BX) Group BX.N and UK property management company Tele-Finance Holdings Limited to acquire indirect joint control, on a contractual basis, of certain business assets from UK railway infrastructure manager Network Rail Infrastructure Limited NETRHI.UL (notified Oct. 26/deadline Dec. 04/simplified)

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-- Investment fund manager CVC Capital Partners to acquire sole control of pharmaceutical company Recordati (notified Oct. 26/deadline Dec. 04)

-- Spanish automotive industry logistics services company Berge Automotive Logistics and Spanish logistic services company GEFCO Espana to acquire joint control over a newly-created Spanish special purpose vehicle that would integrate and manage the finished vehicle logistic businesses and assets of both companies in Spain (notified Oct. 16/deadline Nov. 22)

-- Dutch DP World Investments, part of United Arab Emirates global marine terminal operator DP World Group, to acquire sole control of Danish company Unifeeder, a portfolio company of Jersey private equity house Nordic Capital (notified Oct. 26/deadline Dec. 04)

EXTENSIONS AND OTHER CHANGES

-- Japanese Takeda Pharmaceutical Company Limited 4502.T to acquire Jersey biotechnology company Shire SHP.L (notified Sept. 28/deadline extended from Nov. 6 to Nov. 20)

-- Germany's Thyssenkrupp TKAG.DE and India's Tata Steel TISC.NS to set up a steel joint venture (notified Sept. 25/deadline March 19/in-depth investigation opened Oct. 30)

FIRST-STAGE REVIEWS BY DEADLINE

NOV 6

-- Walt Disney (NYSE:DIS) Co DIS.N to buy the bulk of Twenty-First Century Fox Inc's FOXA.O film and television assets (notified Sept. 14/deadline extended to Nov. 6 from Oct. 19 after Disney offered concessions)

NOV 7

-- German luxury carmakers Daimler DAIGn.DE and BMW BMWG.DE to launch a car-sharing joint venture (notified Sept. 17/deadline extended to Nov. 7 after the companies offered concessions)

-- U.S. aircraft parts maker Spirit Aerosystems Holdings Inc SPR.N to acquire EU-based supplier Asco Industries NV (notified Sept. 17/deadline extended to Nov. 7 after the compamies offered concessions)

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NOV 8

-- Dutch subsidiary of Saudi Arabian Oil Company IPO-ARMO.SE , Overseas Holding Cooperatief U.A., to acquire remaining shares in Netherlands-based specialty chemicals company of ARLANXEO Holding B.V. (notified Oct. 2/deadline Nov. 8/simplified)

NOV 12

-- Private equity firm EQT and hearing aids maker Widex to set up a joint venture which will combine Widex with EQT's hearing aids unit Sivantos (notified Oct. 4/deadline Nov. 12)

NOV 14

-- Electronic and motor manufacturing company Nidec 6594.T to acquire sole control of U.S. white goods maker Whirlpool (NYSE:WHR) WHR.N Corp's compressor subsidiary Embraco (notified Oct. 8/deadline Nov. 14)

-- UK packaging business DS Smith SMDS.L to acquire Spanish corrugated packing provider Europac (notified Sept. 24/deadline extended to Nov. 14 from Oct. 29 after DS Smith offered concessions)

NOV 15

-- Brazilian pulp and paper producer Suzano Papel e Celulose SUZB3.SA to acquire Brazilian peer Fibria Celulose FIBR3.SA (notified Oct. 9/deadline Nov. 15)

-- KLIO to acquire German e-book subscription service Skoobe which is jointly owned by German publishing companies Bertelsmann and Holtzbrinck (notified Oct. 9/deadline Nov. 15/simplified)

NOV 19

-- UK property developer Hammerson HMSO.L and UK insurer Prudential's PRU.L subsidiary M&G to jointly acquire a shopping centres (notified Oct. 11/deadline Nov. 19/simplified)

-- U.S. fashion group Michael Kors KORS.N to acquire Italian peer Gianni Versace (notified Oct. 11/deadline Nov. 19/simplified)

NOV 23

-- Steelmaker ArcelorMittal MT.AS and Japan's Nippon Steel & Sumitomo Metal Corp 5401.T to acquire Indian peer Essar Steel India (notified Oct. 17/deadline Nov. 23/simplified)

-- Energy company E.ON EONGn.DE and SEAS-NVE to set up an electric vehicle charging station joint venture (notified Oct. 17/deadline Nov. 23/simplified)

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-- German building materials company Knauf International to acquire Armstrong World Industries' AWI.N modular suspended ceilings business in the EMEA and APAC region (notified Oct. 17/deadline Nov. 23)

-- International cable company Liberty Global LBTYA.O and its Belgian subsidiary, Telenet, to acquire Belgian publisher De Vijver Media (notified Oct. 3/deadline extended to Nov. 23 from Nov. 9 after the Belgian competition authority asked to take over the case)

NOV 26

-- French public sector lender Caisse des Depots Group and Consignations (CDC), insurer Swiss Life SLHN.S and French rail company SNCF Group to acquire joint control of real estate company Fonciere Vesta, which is an SNCF subsidiary (notified Oct. 18/deadline Nov. 26/simplified)

NOV 27

-- 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)

-- U.S. battery maker Energizer Holdings ENR.N to acquire Spectrum Brands' SPB.N battery and portable lighting business (notified Oct. 19/deadline Nov. 27)

-- German machinery and truck trading companies Fricke Holding and Jungheinrich JUNG_p.DE to launch a joint venture in wholesale truck spare parts (notified Oct. 19/deadline Nov. 27/simplified)

NOV 29

-- Steel company Aperam Alloys Germany, subsidiary of Aperam, to acquire Netherlands producer of materials from nickel and nickel alloy VDM Metals Holding (notified Oct. 23/deadline Nov. 29)

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)

-- U.S. food, snack and beverage corporation PepsiCo PEP.O to acquire all outstanding shares of Israeli-based manufacturing company SodaStream International SODA.TA (notified Oct. 24/deadline Nov. 30)

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DEC 11

-- Chemicals company Quaker Chemical Corp KWR.N and Hinduja Group's Houghton Internatioal HGINL.UL to merge (notified Oct. 19/deadline extended from Nov. 27 to Dec. 11/companies provided concessions March 2)

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 Dec. 13)

JAN 8

-- French aerospace and defence group Thales TCFP.PA to acquire Franco-Dutch chipmaker Gemalto GTO.AS (notified June 18/deadline Jan. 8)

JAN 17

-- German copper products maker Wieland-Werke to acquire German copper smelter Aurubis' NAFG.DE flat rolled products unit Products Schwermetall (notified June 13/deadline Jan. 17)

JAN 25

-- German company BASF BASFn.DE to acquire Belgian chemicals company Solvay's SOLB.BR worldwide polyamide business (notified May 22/deadline extended to Jan. 25 from Jan. 11 after the companies asked for more time)

JAN 28

-- Siemens SIEGn.DE and Alstom ALSO.PA to merge their railway operations (notified June 8/deadline Jan. 28)

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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