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EU mergers and takeovers (April 4)

Published 05/04/2016, 04:06 am
Updated 05/04/2016, 04:10 am
© Reuters.  EU mergers and takeovers (April 4)

BRUSSELS, April 4 (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

-- HeidelbergCement HEIG.DE to acquire Italian peer Italcementi ITAI.MI (notified April 1/deadline May 11)

-- British drugmaker Shire SHP.L to acquire U.S. peer Baxalta BXLT.N (notified April 1/deadline May 11/simplified)

-- Denmark to acquire sole control of Danish energy company Dong IPO-DONG.CO , which it now jointly owns with investment bank Goldman Sachs (NYSE:GS) GS.N (notified April 1/deadline May 11/simplified)

-- U.S. seeds and chemical maker Dow Chemical (NYSE:DOW) Co DOW.N to acquire sole control of Dow Corning which is currently a joint venture between Dow and U.S. glass maker Corning GLW.N (notified March 23/deadline May 2/simplified)

EXTENSIONS AND OTHER CHANGES

-- Airbus Safran Launchers, a 50/50 joint venture between Airbus AIR.PA and Safran SAF.PA , to acquire sole control of satellite group Arianespace (notified on Jan. 8/deadline extended to July 27 from July 12 after the companies asked for more time)

-- Worldline WLN.PA to acquire PaySquare from Equens (notified Feb. 26/deadline extended to April 20 from April 6 after Worldline offered concessions)

-- Global Infrastructure Partners and Canada Pension Plan Investment Board to jointly acquire some businesses from Australian freight company Asciano AIO.AX (application withdrawn March 18)

FIRST-STAGE REVIEWS BY DEADLINE

APRIL 7

-- Hungarian oil and gas group MOL MOLB.BU to acquire ENI Hungaria and ENI Slovenia from Italian oil producer Eni ENI.MI (notified Feb. 29/deadline April 7)

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APRIL 15

-- French container shipping giant CMA CGM to acquire Singaporean rival Neptune Orient Lines NEPS.SI (notified March 8/deadline April 15)

APRIL 19

-- Austria's Erste Group Bank ERST.VI and U.S. company Global Payments Inc GPN.N to acquire joint control of Global Payments s.r.o. (notified March 10/deadline April 19)

APRIL 21

-- French container shipping company CMA CGM and French conglomerate Bollore BOLL.PA to jointly develop a container terminal in the Cameroonian port of Kribi (notified March 14/deadline April 21/simplified)

APRIL 25

-- Belgian steel wire maker NV Bekaert SA BEKB.BR and Ontario Teachers' Pension Plan Board to jointly control a wire rope business (notified March 16/April 25)

-- UK private equity firm EQT to acquire Swiss travel company Kuoni Travel KUNN.S notified March 16/deadline April 25)

APRIL 27

-- Deutsche Bank DBKGn.DE and transport asset management company Ermewa to jointly acquire control of asset management company Akiem which is now solely controlled by Ermewa (notified March 18/deadline April 27)

APRIL 29

-- U.S. private equity firm Rhone Capital to acquire a controlling stake in Garda World Security GRWSC.UL which is now solely controlled by UK private equity firm Apax Partners LLP (notified March 22/deadline April 29/simplified)

MAY 2

-- Japan's Sumitomo Corp 8053.T to acquire a stake in Brazilian energy and logistics company Cosan SA CSAN3.SA (notified March 23/deadline May 2/simplified)

MAY 4

-- Brewer Anheuser-Busch InBev ABI.BR to acquire rival SABMiller SAB.L (notified March 30/deadline May 4)

-- Industrial rubber maker Trelleborg to buy privately-owned Czech CGS Holding (notified March 30/deadline May 4)

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MAY 19

-- Hutchison Whampoa 0001.HK to acquire Telefonica's TEF.MC O2 UK subsidiary (notified Sept. 11/deadline extended to May 19 from April 22 after Hutchison offered concessions)

AUG 10

-- CK Hutchison Holdings Ltd 0001.HK and Vimpelcom VIP.O to merge their Italian mobile operations (notified Feb. 5/deadline extended to Aug. 10 from March 30 after opening of in-depth investigation)

SUSPENDED

-- Oilfield services provider Halliburton (NYSE:HAL) HAL.N to buy rival Baker Hughes BHI.N in a stock and cash transaction (notified Nov. 27/deadline suspended as the Commission waits for the companies to provide more data)

-- 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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