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EU mergers and takeovers (May 12)

Published 2017-05-12, 12:57 p/m
© Reuters.  EU mergers and takeovers (May 12)
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BRUSSELS, May 12 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Singapore-based tech communications company Broadcom AVGO.O to acquire U.S. networking switches and software maker Brocade BRCD.O (approved May 12)

-- U.S. chemicals group Reichhold REICH.UL and Black Diamond Capital to acquire Italian polymers maker Polynt ININDY.UL which is owned by Italian private equity group Investindustrial (approved May 12)

-- Private equity firm KKR KKR.N and Spanish telecoms provider Telefonica TEF.MC tp acquire joint control of Spanish telecoms infrastructure provider Telxius (approved May 10)

-- German industrial gas producer Linde LING.DE and Russian power generation equipment maker PJSC Power Machines to set up a joint venture (approved May 10)

-- Private equity company KKR & Co. KKR.N and Caisse de Depot et Placement du Quebec to acquire Onex Corp's ONEX.TO USI Insurance Services (approved May 10)

NEW LISTINGS

-- U.S. private equity firm Leonard Green & Partners and the Ontario Municipal Employees Retirement System Primary Pension Plan (OMERS) to acquire joint control of U.S. car repairs company OPE Caliber Holdings (notified May 5/deadline June 15/simplified)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

MAY 12

-- Taiwan's Ennoconn 6414.TW , which is part of electronics maker Foxconn 2354.TW , to increase its stake in Austrian IT group S&T SANT1.DE (notified March 31/deadline May 12)

MAY 19

-- Italian cinema operator The Space Cinema, which is controlled by Vue International Holdco Ltd, and Italian peer UCI Italian S.p.A. which is part of Chinese conglomerate Dalian Wanda Group, to set up a joint venture (notified April 7/deadline May 19)

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-- U.S. packaging company WestRock WRK.N to acquire U.S. peer Multi Packaging Solutions MPSX.N (notified April 7/deadline May 19)

-- Asset manager Ares Management L.P. and investment firm The Baupost Group to jointly acquire German shopping mall operator Prejan Enerprises Ltd (notified April 7/deadline May 19/simplified)

MAY 22

-- Investment firms Cinven Capital Management CINV.UL and Canada Pension Plan Investment Board to acquire joint control of Travel Holdings Parent Corporation (notified April 10/deadline May 22)

MAY 24

-- Japan-based Zen-Noh to acquire a 33 percent stake in a Brazilian joint venture between French commodities trader Louis Dreyfus Company and Brazilian soy processor-exporter Amaggi (notified April 12/deadline May 24/simplified)

-- American healthcare company Johnson & Johnson (NYSE:JNJ) JNJ.N to acquire Swiss biotech company Actelion ATLN.S (notified April 12/deadline May 24)

-- Investment company Nordic Capital to acquire credit management services company Intrum Justitia (notified April 12/deadline May 24)

MAY 29

-- French EDF EDF.PA to acquire equipment and fuel manufacturing company Areva AREVA.PA (notified April 18/deadline May 29)

MAY 30

-- French media group Vivendi VIV.PA to acquire de facto sole control of Italy's Telecom Italia TLIT.MI (notified March 31/deadline extended to May 30 from May 12 after Vivendi offered concessions)

MAY 31

-- Manufacturing and technology company General Electric's GE.N Oil & Gas to acquire oilfield services company Baker Hughes BHI.N (notified April 20/deadline May 31)

-- Investment companies TPG TPG.UL and Oaktree OAK.N to take joint control over Britain's Iona Energy Co IEC.UL , which owns 75 percent of two undeveloped oil fields in the North Sea and that will be active in crude oil production and sale (notified April 20/deadline May 31/simplified)

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JUNE 1

-- French aircraft engine and aerospace equipment company Safran SAF.PA and China Eastern Airlines Co. Ltd. 600115.SS to form joint venture to provide aircraft maintenance in China (notified April 21/deadline June 1/simplified)

-- Energy company Electricite de France EDF.PA , French state-owned bank Caisse des depots et consignations CDCEC.UL and Japan's Mitsubishi Corporation 8058.T to create a joint venture NGM to finance electric mobility projects mainly in France (notified April 21/deadline June 1/simplified)

-- Wastewater company SGAB and Spanish infrastructure company Acciona ANA.MC to acquire 10 percent of Sociedad Concesionaria de la Zona Regable del Canal de Navarra (notified April 21/deadline June 1/simplified)

JUNE 2

-- Australian bank Macquarie MBL.UL and British pension fund Universities Superannuation Scheme to acquire Green Investment Bank (notified April 24/deadline June 2/simplified)

JUNE 7

-- German company CWS-Boco, which is part of German firm Haniel, to acquire some of British support services firm Rentokil's RTO.L workwear and hygiene units (notified April 26/deadline June 7)

JUNE 8

-- German chemicals company Evonik Industries EVKn.DE to acquire U.S. company J.M. Huber Corp's CPKEL.UL silica business (notified April 27/deadline June 8)

JUNE 9

-- Private equity firm Hellman & Friedman to acquire Spanish logistics platform Allfunds Bank (notified April 28/deadline June 9/simplified)

-- U.S. smartphone chipmaker Qualcomm QCOM.O to acquire Dutch companyr NXP Semiconductors NV NXPI.O (notified April 28/deadline June 9)

-- Chinese textiles company Shanghai Shenda 600626.SS to acquire International Automotive Components Group's IAUCP.UL trim and acoustics unit business (notified April 24/deadline June 9/simplified)

JUNE 14

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-- Private equity firms BC Partners and Pollen Street Capital Ltd to jointly acquire UK bank Shawbrook Group plc (notified May 4/deadline June 14/simplified)

JUNE 15

-- Austrian refractories materials maker RHI RHIV.VI to acquire a controlling stake in Brazilian peer Magnesita Refratarios MAGG3.SA (notified May 5/deadline June 15)

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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