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EU mergers and takeovers (Aug 20)

Published 21/08/2018, 01:23 am
Updated 21/08/2018, 01:30 am
EU mergers and takeovers (Aug 20)

BRUSSELS, Aug 20 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- German industrial gases group Linde LING.DE to merge with U.S. peer Praxair (NYSE:PX) PX.N (approved Aug. 20)

-- German carmaker Porsche PSHG_p.DE and German industrial company Schuler SCUGe.MU to set up a joint venture (approved Aug. 17)

-- Private equity firm KKR KKR.N to acquire German IT services provider Sellbytel Group (approved Aug. 17)

-- U.S. private equity firms Bain Capital and Vista Equity Partners Management to acquire joint control of the public sector businesses of Aptean Public Sector, Superion and Tritech (approved Aug. 17)

NEW LISTINGS

-- U.S. pharmaceutical company Biogen BIIB.O and South Korean peer Samsung (KS:005930) BioLogics 207940.KS to have joint control of South Korean drugmaker Samsung Bioepis to set up a joint venture (notified Aug. 17/deadline Sept. 21/simplified)

-- Norwegian aluminium maker Norsk Hydro NHY.OL to acquire some of Anglo-Australian mining company Rio Tinto's RIO.L RIO.AX aluminium production assets (notified Aug. 17/deadline Sept. 21)

-- Norwegian investment company Akastor AKAS.OL , Japanese trading company Mitsui & Co 8031.T and Japanese container shipping company Mitsui OSK Lines 9104.T to acquire joint control of subsea oil and gas services company Akofs Offshore (notified Aug. 16/deadline Sept. 20/simplified)

-- German carmaker Volkswagen's VOWG_p.DE Italian car dealer Eurocar to acquire Italian peer Vicentini (notified Aug. 14/deadline Sept. 19)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

AUG 22

-- Private equity firm HgCapital to acquire software company Allocate from private equity firm Vista Equity Partners (notified July 17/deadline Aug. 22)

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AUG 27

-- U.S. consumer products maker Procter & Gamble PG.N to acquire German peer Merck (NYSE:MRK) KGaA's MRCG.DE consumer health business (notified July 20/deadline Aug. 27)

AUG 28

-- French company Europe Intermodal Holding, which is a unit of French group SNCF Mobilites SNCF.UL , and Spanish holding company Krone-Mur Servifrio to acquire joint control of Spanish freight transport company Krone-Mur Primavia (notified July 23/deadline Aug. 28/simplified)

AUG 30

-- FSN Capital V to acquire Norwegian holding company Saferoad Holding (notified July 25/deadline Aug. 30/simplified)

-- UK infrastructure support services provider Amey Group to acquire the rest of UK repair and maintenance services company CarillionAmey Ltd from Carillion Holdings Ltd CLLN.L (notified July 25/deadline Aug. 30/simplified)

AUG 31

-- HK conglomerate CK Hutchison 0001.HK to acquire sole control of Italian mobile network Wind Tre from Dutch mobile operator Veon VON.AS (notified July 12/deadline extended to Aug. 31 from Aug. 17 after Hutchison offered concessions)

-- German food retailers Schwarz Gruppe to acquire waste management companies Karl Toensmeter Entsorgungswirtschaft and Toenmeier Dienstleistung (notified July 26/deadline Aug. 31/simplified)

SEPT 3

-- Japanese company Sumitomo Corp 8053.T and Italian software provider Tierra to set up a joint venture (notified July 27/deadline Sept. 3/simplified)

-- Singapore's Sheares Healthcare to acquire joint control of Singapore peer Asia Healthcare Holdings Pte Ltd which is currently solely controlled by U.S. private investment firm TPG Growth III SF Pte Ltd (notified July 27/deadline Sept. 3/simplified)

-- Asset manager IFM Investors Pty Ltd to acquire waste management company Aqualia from Spanish industrial company Fomento de Construcciones y Contratas S.A. (notified July 27/deadline Sept. 3/simplified)

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-- French utility Engie ENGIE.PA and French supermarket chain Casino's photovoltaic subsidiary Greenyellow to set up a joint venture (notified July 27/deadline Sept. 3/simplified)

SEPT 4

-- Portuguese retail conglomerate Sonae YSO.LS to acquire Portuguese retail real estate group Sonae Sierra SGPS. S.A. SONER.UL (notified July 30/deadline Sept. 4/simplified)

-- Insurers AMF Pensionförsäkring AB (AMF) and Kommunal Landspensjonskassegjensidig forsikringsselskap (KLP) to acquire Swedish windfarm builder Stena Renewable (notified July 30/deadline Sept. 4/simplified)

-- iPhone maker Apple AAPL.O to acquire UK music streaming service Shazam (notified March 14/deadline extended to Sept. 4 from April 23 after the European Commission opened an in-depth investigation)

SEPT 5

-- Luxembourg investment company JAB Holding Co S.a.r.l. to acquire British food outlet Pret a Manger IPO-PRET.L (notified July 31/deadlinie Sept. 5)

-- Jera Trading, which is a joint venture between Jera Co and EDF (PA:EDF) Trading Ltd (EDFT) EDFTR.UL , to acquire EDFT's LNG trading business (notified July 31/deadline Sept. 5/simplified)

SEPT 6

-- Austrian motorcyle parts maker Pierer Industrie AG (PIAG) and Austrian industrial company Michael Tojner Industriebeteiligungs und -beratungs GmbH (MTIB) to acquire joint control of Austrian electronic parts maker ABATEC (notified Aug. 1/deadline Sept. 6/simplified)

-- Canadian real estate investor Ivanhoe Cambridge, which is a subsidiary of Canadian pension manager Caisse de depot et placement du Quebec, and Canada's Public Sector Pension Investment Board to recapitalise several Ivanhoe limited partnerships (notified Aug. 1/deadline Sept. 6/simplified)

-- Asset manager Carlyle Group CG.O to acquire Dutch chemicals and paints company Akzo Nobel's AKZO.AS chemicals business (notified Aug. 1/deadline Sept. 6/simplified)

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-- Chinese conglomerate Fosun International 0656.HK to acquire Austrian automated production systems maker FFT Gesellschaft mbH (notified Aug. 1/deadline Sept. 6/simplified)

SEPT 12

-- Italian gas company Spigas, which is controlled by Germany's EnBW Energie BadenWürttemberg EBKG.DE , and Italian peer Canarbino to acquire joint control of Italian gas company Miogas (notified Aug. 7/deadline Sept. 12/simplified)

SEPT 13

-- German car parts supplier ZF Friedrichshafen ZFF.UL , German car brakes maker Gustav Magenwirth, German bike brakes maker Brake Force One GmbH and German car battery company Batterien-Montage-Zentrum GmbH to set up a joint venture (notified Aug. 8/deadline Sept. 13/simplified)

SEPT 14

-- French transport company Keolis and British infrastructure asset management company Amey FERAC.UL to acquire joint control of British passenger rail services company W&B Rail Franchise (notified Aug. 9/deadline Sept. 14/simplified)

SEPT 17

-- International Flavors & Fragrances Inc IFF.N to acquire Israeli flavours and ingredients maker Frutarom FRUT.TA (notified Aug. 10/deadline Sept. 17/simplified)

SEPT 19

-- Private equity firm KKR KKR.N to acquire U.S. business software company BMC Software (notified Aug. 14/deadline Sept. 19/simplified)

-- French carmaker PGA Motors and Fiber to acquire joint control of auto dealer and car parts distributor Bernard Participations (notified July 31/deadline extended to Sept. 19 from Sept. 5 after the French competition authority asked to take over the case)

NOV 30

-- Deutsche Telekom DTEGn.DE to acquire Swedish peer Tele2's TEL2b.ST Dutch unit and merge it with its Dutch business T-Mobile Nederland (notified May 2/deadline Nov. 30 after deadline suspension ended Aug. 6)

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DEC 13

-- Copper company KME, which is part of Intek Group IKG.MI , to acquire German peer MKM Mansfelder Kupfer and Messing GmbH (notified June 4/deadline extended to Dec. 13 from Nov. 29 after the companies asked for more)

JAN 3

-- German copper products maker Wieland-Werke to acquire German copper smelter Aurubis' NAFG.DE flat rolled products unit Products Schwermetall (notified June 13/deadline extended to Jan. 3 from Dec. 10 after the companies asked for more time)

JAN 8

-- French aerospace and defence group Thales TCFP.PA to acquire Franco-Dutch chipmaker Gemalto GTO.AS (notified June 18/deadline extended to Jan. 8 from Nov. 29 from July 23 after the companies asked for more time)

SUSPENDED DEADLINE

-- Siemens SIEGn.DE and Alstom ALSO.PA to merge their railway operations (notified June 8/deadline suspended on Aug. 7)

-- German company BASF BASFn.DE to acquire Belgian chemicals company Solvay's SOLB.BR worldwide polyamide business (notified May 22/deadline suspended on July 17)

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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