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EU mergers and takeovers (Aug 16)

Published 2017-08-16, 11:32 a/m
© Reuters.  EU mergers and takeovers (Aug 16)

BRUSSELS, Aug 16 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Canadian asset manager Brookfield BAMa.TO and French energy company Engie ENGIE.PA to acquire joint control of British electricity wholesaler FHHGL (approved Aug. 14)

NEW LISTINGS

None

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

AUG 16

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

AUG 22

-- German industrial group Bayer BAYGn.DE to acquire U.S. seeds company Monsanto (NYSE:MON) MON.N (notified June 30/deadline extended to Aug. 22 after Bayer offered concessions)

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 25

-- Danish shipping company AP Moller Maersk MAERSKb.CO and Denmark's Danske Bank DANSKE.CO to set up a joint venture (notified July 19/deadline Aug. 25/simplified)

-- 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)

-- Swiss vending services provider Selecta, which is controlled by private equity firm KKR, to acquire Dutch peer Pelican Rouge (notified July 5/deadline extended to Aug. 25 after Selecta offered concessions)

AUG 28

-- Aerospace and marine product maker Moog Inc MOGa.N and Singapore Airlines Ltd's SIAL.SI engineering unit to set up a joint venture (notified July 24/deadline Aug. 28/simplified)

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-- Dutch asset management company APG to acquire a portfolio of 48 project companies in Belgium, France, Germany, the Netherlands and the UK (notified July 20/deadline Aug. 28/simplified)

-- Private equity firm HGCapital to acquire software provider Visma HGCAPV.UL (notified July 20/deadline Aug. 28/simplified)

-- French oil major Total TOTF.PA , credit card payment services company Worldline S.A. WLN.PA and African fintech provider Intouch Corp to acquire joint control of digital payment services provider Intouch SAS (notified July 20/deadline Aug. 28/simplified)

AUG 29

-- French private equity firm Ardian to acquire engineering services provider Assystem Technologies' Global Product Solutions unit (notified July 24/deadline Aug. 29)

-- Norwegian metals company Norsk Hydro NHY.OL to acquire sole control of aluminium company Sapa, which is a joint venture with Norwegian conglomerate Orkla ASA ORK.OL (notified July 24/deadline Aug. 29/simplified)

AUG 31

-- French dairy company Groupe Lactalis to acquire German peer Omira (notified July 26/deadline Aug. 31)

-- Private equity firm CVC Capital CVC.UL to acquire Italian leather processing company Pasubio (notified July 26/deadline Aug. 31/simplified)

SEPT 1

-- Television holding groups ProSiebenSat.1 Media PSMGn.DE of Germany, France's TV group TF1 TFFP.PA and Mediaset MS.MI with networks in Italy and Spain to establish a joint venture selling advertising space (notified July 27/deadline Sept. 1/simplified)

SEPT 4

-- VIMNI, Viacom's Italian branch, and publisher De Agostini Editore to jointly acquire DeA Broadcast, a new LLC programming creator (notified July 28/deadline Sept. 4/simplified)

SEPT 6

-- Pamplona Capital to acquire biopharmaceutical company Parexel PRXL.O (notified Aug. 1/deadline Sept. 6/simplified)

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-- Brammer France SAS, owned by U.S. private equity firm Advent International, to acquire machine parts supplier Industrial Parts Holding (notified Aug. 1/deadline Sept. 6/simplified)

SEPT 8

-- General Electric Company (NYSE:GE) GE.N and global investments provider Macquarie Corporate Holdings to acquire joint control of Markbygden ETT AB, an onshore wind farm project in Sweden (notified Aug. 3/deadline Sept. 8/simplified)

SEPT 11

-- Cinven Capital Management CINV.UL and the Canada Pension Plan Investment Board to acquire joint control of GTA Travel Holding Ltd (notified Aug. 4/deadline Sept. 11)

-- French banking group BNP Paribas Group BNPP.PA to acquire sole control of PEH Milan Holdco S.r.l, thus establishing joint control of the latter's two hotels in Italy with Starwood Hotels & Resorts Worldwide (NYSE:HOT), a subsidiary of Marriott International MAR.O , which manages the hotels (notified Aug. 4/deadline Sept. 11/simplified)

SEPT 12

-- Telecommunications infrastructure maintenance company CTDI GmbH, jointly controlled by Communication Test Design, Inc. and Deutsche Telekom AG DTEGn.DE , to acquire EMEA electronics repair business of Regenersis Services Ltd. from CTDI Inc., changing current sole control to joint control via CTDI GmbH (notified Aug. 7/deadline Sept. 12/simplified)

-- Private equity group Bridgepoint BRDG.UL and Credit Mutuel Arkea CCMSOC.UL to establish joint control of French asset manager Groupe Primonial (notified Aug. 7/deadline Sept. 12/simplified)

SEPT 14

-- Norwegian-based DNB Bank ASA and Swedish Nordea Bank AB NDA.ST to establish a joint venture concerning their banking activities in Estonia, Latvia and Lithuania(notified Aug. 9/deadline Sept. 14)

SEPT 15

-- Investment firm Centerbridge Partners L.P. and Enel (MI:ENEI) Green Power Hellas S.A. to create a jointly controlled wind farm venture in Greece (notified Aug. 10/deadline Sept. 15/simplified)

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SEPT 18

-- Private equity firms CVC and PAI Partners to acquire the rest of Spanish retailer Cortefiel (notified Aug. 11/deadline Sept. 18/simplified)

NOV 30

-- Private equity firm Bain Capital Investors to acquire German tyre wholesaler Reiff Tyre (notified July 25/deadline Aug. 30/simplified)

-- 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)

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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