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EU mergers and takeovers (Aug 23)

Published 2016-08-23, 06:25 a/m
© Reuters.  EU mergers and takeovers (Aug 23)
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BRUSSELS, Aug 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 CVC Capital Partners to buy Italian betting company Sisal Group (approved Aug. 11)

-- Japan Tunnel Systems Corp and Mitsubishi Heavy Industries 7011.T to set up a joint venture (approved Aug. 18)

-- Dutch employment agency Randstad RAND.AS to acquire French peer Ausy OSI.PA (approved Aug. 16)

-- Canadian private equity firm Onex Corp OCX.TO to acquire U.S. wire and cable maker Wireco WRCPA.UL (approved Aug. 17)

NEW LISTINGS

None

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

AUG 30

-- Polish chemicals company Synthos SNS.WA to acquire Swiss-based chemicals group Ineos' expandable polystyrene business INEOS Styrenics (notified July 25/deadline Aug. 30)

SEPT 1

-- U.S. healthcare services provider McKesson Corp (NYSE:MCK) MCK.N and asset manager Blackstone (NYSE:BX) BX.N to set up a joint venture (notified July 27/deadline Sept. 1/simplified)

-- Private equity firm Advent International to acquire New Zealand resins and coating company Nuplex Industries NPX.NZ (notified July 27/deadline Sept. 1)

SEPT 2

-- Ontario Teachers' Pension Plan Board and Public Sector Pension Board to jointly acquire Cubico Sustainable Investments Holdings Ltd which in turn will acquire five renewable energy power generation companies in Italy and the UK (notified July 28/deadline Sept. 2/simplified)

-- Investment bank Goldman Sachs (NYSE:GS) GS.N and private equity firm Altor Fund to jointly acquire marine electronics maker Navico and marine maps provider C-Map (notified July 28/deadline Sept. 2/simplified)

SEPT 6

-- Buyout group CVC to acquire Swedish cigarette pack maker AR Packaging (notified Aug. 1/deadline Sept. 6)

-- German forklift truck and robotics maker Kion KGX.DE to acquire U.S. peer Dematic (notified Aug. 1/deadline Sept. 6/simplified)

SEPT 7

-- German energy companies Alpiq AG ATHNR.UL and Getec Energie AG to set up a joint venture (notified Aug. 2/deadline Sept. 7/simplified)

-- Buyout firm Carlyle CG.O to acquire a 50-percent stake in Portuguese plastics packaging company Logoplaste (notified Aug. 2/deadline Sept. 7/simplified)

SEPT 8

-- CK Hutchison Holdings Ltd 0001.HK and Vimpelcom VIP.O to merge their Italian mobile operations (notified Feb. 5/deadline extended to Sept. 8 from Aug 18)

SEPT 9

-- Commodities trader Archer Daniels Midland Co ADM.N and Singaporean palm oil processor Wilmar International Ltd WLIL.SI to acquire joint control of Olenex joint venture (notified Aug. 4/deadline Sept. 9)

-- Investment fund Partners Group to acquire real estate services provider Foncia Holding and its subsidiaries (notified July 4/deadline Aug. 9/simplified)

SEPT 12

-- South African furniture and household goods retailer Steinhoff International SNHG.DE to acquire British retailer Poundland (notified Aug. 5/deadline Sept. 12/simplified)

-- French carmaker Groupe PSA PEUP.PA subsidiary Automobiles Citroën SA and Spanish management services provider Estacionamientos y servicios, S.A.U. to set up a car sharing joint venture (notified Aug. 5/deadline Sept. 12/simplified)

-- Investment fund OpenGate Capital to acquire Belgian materials group Umicore 's UMI.BR zinc chemicals business (notified Aug. 5/deadline Sept. 12/simplified)

SEPT 14

-- Private equity firm First Reserve to acquire UK service provider Morrison Utility Services (notified Aug. 9/deadline Sept. 14/simplified)

-- Investment company Cerberus to acquire control of French financial companies GE Money Bank SCA, Sorefi SCA, Somafi-Soguafi SCA and General Electric (NYSE:GE) Financement Pacifique (notified Aug. 9/Sept. 14/simplified)

SEPT 15

-- Private investment company Ardian to acquire joint control of fibre product producer Kemide and its subsidiary Kermel (notified Aug. 10/deadline Sept. 15/simplified)

SEPT 16

-- Dutch infrastructure fund DIF and French utility EDF EDF.PA to acquire German gas grid Thyssengas (notified Aug. 11/deadline Sept. 16)

SEPT 19

--French oil and gas major Total TOTF.PA to take over Lampiris, Belgium's third-largest natural gas and renewable power vendor (notified Aug. 12/deadline Sept. 19)

--Canon Inc 7751.T to acquire Toshiba Corp's 6502.T medical equipment unit (notified Aug. 12/deadline Sept. 19)

--A division of Chinese aviation and shipping conglomerate HNA Group HNAIRC.UL to buy U.S-based Carlson Hotels Inc, owner of the Radisson hotel chain (notified Aug. 12/deadline Sept. 19)

SEPT 20

-- Impulsora Del Desarrollo Y El Empleo En America Latina, S.A.B. De C.V., CPPIB and Ontario teachers' pension plan create strategic partnership to invest in infrastructure assets in Mexico (notified Aug. 16/deadline Sept. 20/simplified)

-- China's HNA Group to acquire Swiss airline catering firm Gategroup GATE.S (notified Aug. 16/deadline Sept. 20)

-- Agricultural commodities trader Bunge BG.N to acquire majority stake in German company Walter Rau (notified Aug. 16/deadline Sept. 20/simplified)

SEPT 21

-- Computer Sciences Corporation (NYSE:CSC) to merge with Hewlett Packard Enterprise's information technology services segment.

(notified Aug.18/eadline Sept.21/simplified)

SEPT 22

-- Verlinvest and China Resources Co. to acquire joint control over Resources Verlinvest Health Investment.

(notified Aug.18/deadline Sept.22/simplified)

-- Czech investor EPH and private equity group PPF Investments to buy from Sweden's stale-owned utility Vattenfall VATN.UL lignite mines and power plants in Germany - Vattenfall Mining and Vattenfall Generation. (notified Aug.18/deadline Sept.22)

SEPT 23

-- Swiss bank PostFinance PFAG.UL and infrastructure group SIX to acquire joint control of a new mobile payment system Twint. (notified Aug.19/deadline Sept.23/simplified)

-- Allergan (NYSE:AGN_pa) AGN.N to sell its Anda distribution business to Israel's Teva Pharmaceutical Industries (NYSE:TEVA) TEVA.TA . (notified Aug. 19/deadline Sept. 23/simplified)

-- Buyout firm Hellman & Friedman, Permira Advisers and Technology Crossover Ventures buy stake in Genesys, a U.S. provider of call centre software. (notified Aug.19/deadline Sept.23/simplified)

-- Triton Group to acquire sole control over Stromboli, holding entity of Flakt Woods. (notified Aug.19/deadline Sept.23)

-- FIH Mobile to buy from Microsoft Mobile Vietnam and other assets from Microsoft Mobile MSFT.O . (notified Aug.19/deadline Sept.23)

-- Valeo (PA:VLOF) and Siemens SIEGn.DE to set up 50/50 joint venture. (notified Aug.19/deadline Sept.23/simplified)

OCT 24

-- U.S. rail equipment maker Wabtec Corp WAB.N to acquire French peer Faiveley Transport SA FAIP.PA (notified April 4/deadline Oct. 24/commitments offered July 25)

DEC 20

-- U.S. chemicals company Dow Chemical (NYSE:DOW) DOW.N to merge with DuPont (NYSE:DD) DD.N (notified June 22/deadline extended to Dec. 20 from Aug. 11 after the European Commission opened an in-depth investigation)

SUSPENDED

-- SOCAR, Azerbaijan's state energy company, to buy stakes in Greek natural gas grid operator DESFA from Greek natural gas utility DEPA (notified Oct. 1/deadline suspended on Jan. 21)

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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