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EU mergers and takeovers (July 24)

Published 2017-07-24, 01:02 p/m
© Reuters.  EU mergers and takeovers (July 24)
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BRUSSELS, July 24 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

None

NEW LISTINGS

-- Canadian asset manager Brookfield BAMa.TO and French energy company Engie ENGIE.PA to acquire joint control of British electricity wholesaler FHHGL (notified July 20/deadline Aug. 28/simplified)

EXTENSIONS AND OTHER CHANGES

-- German brake systems maker Knorr-Bremse STELLG.UL to acquire Swedish peer Haldex HLDX.ST (notified June 1/deadline extended to Nov. 30 from July 24 the European Commission opened an in-depth investigation)

FIRST-STAGE REVIEWS BY DEADLINE

JULY 26

-- Swedish carmaker Volvo VOLVb.ST to acquire Swedish car rental company First Rent A Car AB (notified June 20/deadline July 26)

JULY 27

-- U.S. chemicals company DuPont (NYSE:DD) DD.N to acquire U.S. pesticide maker FMC's FMC.N health and nutrition business (notified June 7/deadline extended to July 27 from July 12 after DuPont offered concessions)

JULY 28

-- U.S. pesticide maker FMC FMC.N to acquire U.S. chemicals company DuPont's DD.N crop protection business (notified June 8/deadline extended to July 28 from July 13 after FMC offered concessions)

JULY 31

-- Shipping terminal operator PSA International Pte Ltd and Terminal Investment Ltd Sarl, which is indirectly and jointly controlled by Swiss container line MSC (Mediterraneann Shipping Company), to jointly acquire Belgian container terminal operator PSA DGD (notified June 23/deadline July 31)

AUG 2

-- Czech energy company EPH to acquire two UK gas-fired power plants from British energy supplier Centrica CNA.L (notified June 27/deadline Aug. 2/simplified)

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AUG 3

-- U.S. industrial company Deere & Co DE.N to acquire German road construction company Wirtgen (notified June 28/deadline Aug. 3)

AUG 4

-- Japan's Toray Industries and Japanese industrial conglomerate Mitsui Co Ltd to jointly acquire Japanese fragrance and chemicals maker Soda Aromatic Co Ltd 4965.T (notified June 29/deadline Aug. 4/simplified)

-- Private equity firms CCMP Capital and MSD Aqua Partners to jointly acquire swimming pool equipment maker Hayward Industries HWRI.PK (notified June 29/deadline Aug. 4/simplified)

-- Credit rating agency Moody's MCO.N to acquire Dutch business intelligence statistics provider Bureau van Dijk Electronic Publishing (notified June 29/deadline Aug. 4/simplified)

-- UK property developer Segro plc and Canada's Public Sector Pension Investment Board (PSPIB) to jointly acquire French logistics asset Morgane Portfolio (notified June 29/deadline Aug. 4/simplified)

-- Austrian construction company WIG Wietersdorfer Holding GmbH and Saudi Arabian Amiantit 2160.SE to set up a joint venture (notified June 29/deadline Aug. 4)

AUG 7

-- French luxury goods group LVMH LVMH.PA and Italian spectacles maker Marcolin to set up a joint venture (notified June 30/deadline Aug. 7/simplified)

-- German industrial group Bayer BAYGn.DE to acquire U.S. seeds company Monsanto (NYSE:MON) MON.N (notified June 30/deadline Aug. 7)

AUG 8

-- Intervias, which is the holding company of fuel station operator Euro Garages Ltd, to acquire a business unit from Italy fuel station operator Esso Italiana (notified July 3/deadline Aug. 8/simplified)

AUG 9

-- French carmaker Peugeot PEUP.PA and French bank BNP Paribas BNPP.PA to acquire joint control of U.S. carmaker General Motors (NYSE:GM)' GM.N financing subsidiaries and branches (notified July 4/deadline Aug. 9)

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AUG 10

-- Swiss vending services provider Selecta, which is controlled by private equity firm KKR, to acquire Dutch peer Pelican Rouge (notified July 5/deadline Aug. 10)

AUG 11

-- Chinese chemicals company China National Bluestar (Group) Co. Ltd and Japanese fibres and chemicals company AKC to set up a joint venture (notified July 6/deadline Aug. 11/simplified)

AUG 14

-- U.S. communications infrastructure company Digital Bridge Holdings, Public Sector Pension Investment Board (PSPIB) and Teachers Insurance and Annuity Association of America (TIAA) to jointly acquire U.S. data centre operator Vantage Data Centres (notified July 7/deadline Aug. 14/simplified)

AUG 16

-- U.S. private equity firm Advent International to acquire Danish packaging company Faerch Plast from Swedish buyout firm EQT (notified July 10/deadline Aug. 16/simplified)

-- Norwegian retailer Norgesgruppen and Swedish peer Axfood AXFO.ST to jointly acquire Swedish food retailer Eurocash Food AB (notified July 10/deadline Aug. 16)

-- Chinese car parts maker Hubei Aviation Precision Machinery Technology Co. Ltd and Canadian peer Magna International MG.TO to set up a joint venture (notified July 10/deadline Aug. 16/simplified)

AUG 17

-- Private equity group Ardian, the Netherlands' APG Asset Management and Dutch pension fund PGGM to jointly acquire control of LBC tank terminals (notified July 11/deadline Aug. 17/simplified)

AUG 21

-- Canadian pension fund OTPP, Canadian investment management company AIMCo, Canadian infrastructure manager Borealis, which administers the Ontario Municipal Employees Retirement System Primary Pension Plan, and fund manager KIA to jointly acquire British airport LCY (notified July 13/deadline Aug. 21/simplified)

AUG 22

-- Spanish bank Banco Santander SAN.MC to acquire peer Banco Popular Group (notified July 14/deadline Aug. 22)

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AUG 23

-- Asset management company Carlyle CG.O and private equity firm GTCR to jointly acquire contract research company Albany Molecular Research AMRI.O (notified July 17/deadline Aug. 23/simplified)

AUG 24

-- Luxembourg-based investment company Letterone to acquire British healthcare product retailer Holland & Barrett (notified July 18/deadline Aug. 24/simplified)

AUG 25

-- U.S. scientific instruments maker Thermo Fisher Scientific (NYSE:TMO) TMO.N to acquire Dutch drugmaker Patheon PTHN.N (notified July 19/deadline Aug. 25)

DEADLINE SUSPENDED

-- U.S. smartphone chipmaker Qualcomm QCOM.O to acquire Dutch company NXP Semiconductors NV NXPI.O (notified April 28/deadline suspended on June 28 after the companies failed to provide relevant information)

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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