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EU mergers and takeovers (Oct 4)

Published 2016-10-04, 10:01 a/m
© Reuters.  EU mergers and takeovers (Oct 4)
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BRUSSELS, Oct 4 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- U.S. rail equipment maker Wabtec Corp WAB.N to acquire French peer Faiveley Transport SA FAIP.PA (approved Oct. 4)

-- China National Chemical Corp (ChemChina) CNNCC.UL to acquire crop protection maker Adama Agricultural Solutions from Israel's Discount Investment Corp DISI.TA (approved Oct. 3)

-- UK property developer Segro SGRO.L and Canada's Public Sector Pension Investment Board to jointly acquire a Polish logistics unit (approved Oct. 3)

-- French jewellery retailer Thom S.A.S., which is owned by private equity firm Bridgepoint Group Ltd, to acquire Italian peer Stroili Oro S.p.A. (approved Oct. 3)

-- Singaporean palm oil processor Wilmar WLIL.SI to acquire a 45 percent stake in a Vietnamese oilseed crushing business from commodity trader Bunge Ltd BG.N (approved Oct. 3)

-- Private equity firm Clayton Dubilier & Rice and Austrian holding company WM Holding to jointly acquire French furniture retailer Deconneubles Partners SAS (BUT)(approved Oct. 3)

-- Private equity firm BC Partners to acquire plastic products maker Keter and holding company Jardin (Oct. 3)

NEW LISTINGS

-- German shipping company Hapag-Lloyd HLAG.DE to merge with Kuwait-based United Arab Shipping Co (notified Oct. 3/deadline Nov. 9)

-- U.S. medical devices maker Abbott Laboratories (NYSE:ABT) ABT.N to acquire U.S. peer St Jude STJ.N (notified Oct. 3/deadline Nov. 9)

-- Private equity firm Apollo Global Management APO.N to acquire U.S. cloud services provider Rackspace Hosting RAX.N (notified Sept. 29/Nov. 7/simplified)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

OCT 5

-- Japanese carmaker Nissan Motor Co Ltd 7201.T to acquire Japanese peer Mitsubishi Motors Corp 7211.T (notified Aug. 31/deadline Oct. 5)

OCT 6

-- U.S. electric component distributor Avnet AVT.N to acquire British Raspberry Pi mini-computer maker Premier Farnell PFL.L (notified Sept. 1/deadline Oct. 6)

OCT 7

-- Meat processing company ABP Food Group to acquire a 50 percent stake in Irish beef producer Slaney Food (notified Sept. 2/deadline Oct. 7)

-- Swedish telecoms operator Tele2 to acquire Danish peer TDC's Swedish subsidiary TDC TDC.CO Sverige AB (notified Sept. 2/deadline Oct. 7)

OCT 10

-- German cement producers Heidelbergcement HEIG.DE and Schwenk to jointly acquire Mexican peer Cemex's CMXCPO.MX Croatian unit (notified Sept. 5/deadline Oct. 10)

OCT 12

-- U.S. laser tools and systems maker Coherent COHR.O to acquire laser developer and manufacturer Rofin-Sinar Technologies RSTI.O (notified Sept. 7/deadline Oct. 12)

OCT 14

-- Chinese household appliances company Midea Group 000333.SZ to acquire German industrial robot maker Kuka KU2G.DE (notified Sept. 9/deadline Oct. 14/simplified)

-- Private equity firm Clayton Dubilier & Rice and Austrian holding company WM Holding to jointly acquire French furniture retailer Decomeubles Partners SAS (notified Sept. 9/deadline Oct. 14/simplified)

-- French minerals company Imerys IMTP.PA to acquire alumina producer Alteo ARC and Alufin GmbH Tabularoxid from Alteo Holding SAS(notified Sept. 9/deadline Oct. 14)

-- Indonesian waste management company GLM, Singaporean industrial company Multico, Japanese chemical producer Toray Group and Japense trading company Toyota Tsusho Corp to set up a joint venture (notified Sept. 9/deadline Oct. 14/simplified)

OCT 17

-- Belgian wind energy producer Eneco Wind Belgium NV and Belgian peer Elicio NV to set up a joint venture (notified Sept. 12/deadline Oct. 17/simplified)

OCT 18

-- Australian logistics company Brambles BXB.AX and First Reserve Management L.P. to set up a joint venture (notified Sept. 13/deadline Oct. 18/simplified)

-- Beijing Jianguang Asset Management Co Ltd to acquire chipmaker NXP Semiconductors' NXPI.O standard products business unit Nexperia (notified Sept. 13/deadline Oct. 18/simplified)

OCT 20

-- U.S. pulp and paper company International Paper Co IP.N to acquire Weyerhaeuser's WY.N pulp business (notified Sept. 15/deadline Oct. 20)

-- Private equity firms Blackstone (NYSE:BX) BX.N and New Mountain Capital to jointly acquire software provider Ida Software (notified Sept. 15/deadline Oct. 20/simplified)

-- Private equity firms Advent International and Thomas H. Lee Partners to jointly acquire pharmaceutical services provider InVentiv (notified Sept. 15/deadline Oct. 20/simplified)

OCT 21

-- Aeroporti di Roma subsidiary Atlantia and French energy company EDF EDF.PA to jointly acquire airport operator Societe Aeroports de la Cote d'Azur (ACA) (notified Sept. 16/deadline Oct. 21/simplified)

-- Private equity firm Cinven CINV.UL to acquire Italian insurer Old Mutual Wealth Italy (notified Sept. 16/deadline Oct. 21/simplified)

-- German tourism company TUI AG TUIT.L to acquire French peer Transat France's TRZ.TO French and Greek tour operating units (notified Sept. 16/deadline Oct. 21)

OCT 24

-- German drugmaker Boehringer Ingelheim to acquire French peer Sanofi's SASY.PA animal health business (notified Sept. 19/deadline Oct. 24)

OCT 26

-- Dutch staffing company Randstad RAND.AS to acquire U.S. peer Monster Worldwide MWW.N (notified Sept. 21/deadline Oct. 26)

-- Japanese company Marubeni Corp 8002.T , Japanese gas company Toho Gas 9533.T and Portuguese energy company Galp Energia GALP.LS to jointly acquire gas distributor GGND which is now solely owned by Galp Energia (notified Sept. 21/deadline Oct. 26/simplified)

-- German insurer Talanx TLXGn.DE and UK investment group Aberdeen Asset Management ADN.L to jointly acquire Portuguese developer Escala Vila Franca and Portuguese parking operator PNH Parque (notified Sept. 21/deadline Oct. 26/simplified)

OCT 27

-- Iberian companies Maritima del Mediterraneo (MARMEDSA) and United European Car Carriers Unipessoal (UECC) to jointly acquire Spanish terminal operator United European Car Carriers Ibérica (notified Sept. 22/deadline Oct. 27/simplified)

-- Marítima del Mediterráneo S.A.U (Marmedsa), which is owned by investment fund IIF International Holding, and vehicle transport company United European Car Carriers Unipessoal (UECC) to jointly acquire United European Car Carriers Iberica (notified Sept. 22/deadline Oct. 27/simplified)

OCT 28

-- French drugmaker Sanofi SASY.PA unit Sanofi Pasteur SA to acquire sole control of some human vaccines and immunoglobulins which it now jointly owns with U.S. drugmaker Merck (NYSE:MRK) & Co MRK.N (notified Sept. 23/deadline Oct. 28/simplified)

-- Chinese state-owned company China National Chemical Corp (ChemChina) CNNCC.UL to acquire Swiss pesticides and seeds group Syngenta SYNN.S (notified Sept. 23/deadline Oct. 28)

OCT 31

-- Dutch paint and coatings maker Akzo Nobel AKZO.AS to acquire Germany chemical company BASF's BASFn.DE industrial coasting business (notified Sept. 26/deadline Oct. 31)

NOV 3

-- Private equity firm CVC CVC.UL and the Canada Pension Plan Investment Board to jointly acquire U.S. specialty pet retailer Petco Holdings PEHI.UL (notified Sept. 27/deadline Nov. 3/simplified)

-- Alliance Automotive Group to acquire auto distributor FPS Distributor (notified Sept. 27/deadline Nov. 3)

-- German furniture and household goods retailer Steinhoff International SNHG.DE and its peer Grupo Pikolin to jointly acquire Belgian furniture wholesaler Cofel (notified Sept. 27/deadline Nov. 3/simplified)

NOV 4

-- French chemicals company Arkema AKE.PA to acquire sealants and adhesives maker Den Braven (notified Sept. 28/deadline Nov. 4)

NOV 7

-- Private equity firm Axcel IV, Danish pension fund PFA Pension and three other pension funds PKA to jointly acquire Danish ship financing company DSF (notified Sept. 29/deadline Nov. 7/simplified)

-- Air transport services provider HNA Aviation to acquire German aircraft maintenance services provider SR Technics (notified Sept. 29/deadline NOv. 7/simplified)

-- German carmaker Daimler DAIGn.DE to acquire Dutch company Athlon Car Lease International ATHLG.UL (notified Sept. 29/deadline Nov. 7/simplified)

FEB 6

-- U.S. chemicals company Dow Chemical (NYSE:DOW) DOW.N to merge with DuPont (NYSE:DD) DD.N (notified June 22/deadline Feb. 6)

FEB 13

-- Deutsche Boerse DB1Gn.DE and the London Stock Exchange LSE.L plan to merge (notified Aug. 24/deadline extended to Feb. 13 from Sept. 28 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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