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EU mergers and takeovers (Feb 29)

Published 29/02/2016, 11:44 pm
© Reuters.  EU mergers and takeovers (Feb 29)

BRUSSELS, Feb 29 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Coop subsidiary Bell AG to acquire poultry processing company HL Verwaltung (approved Feb. 26)

-- German food company Tonnies to acquire Danish peer Tican (approved Feb. 26)

-- Celulosa Arauco y Constitucion S.A. (Arauco) and Sonae Industria SGPS, SA (Sonae Industria) to acquire indirect joint control of wood products company Tableros de Fibras S.A. (Tafisa) (approved Feb. 26)

NEW LISTINGS

-- Global Infrastructure Partners and Canada Pension Plan Investment Board to jointly acquire some businesses from Australian freight company Asciano AIO.AX (notified Feb. 26/deadline April 6/simplified)

-- Worldline WLN.PA to acquire PaySquare from Equens (notified Feb. 26/deadline April 6)

EXTENSIONS AND OTHER CHANGES

-- Statoil Fuel and Retail STL.OL to acquire fuels business of Dansk Fuels (notified on Feb. 4/deadline extended to March 29 from March 10 after the companies submitted concessions)

-- British supermarket J Sainsbury (OTC:JSAIY) SBRY.L , Dansk Supermarket A/S and Wm Morrison Supermarkets plc MRW.L to acquire a grocery store (Commission says deal is outside EU merger control)

FIRST-STAGE REVIEWS BY DEADLINE

FEB 29

-- U.S. computer maker Dell Inc to acquire data storage company EMC Corp (N:EMC) EMC.N (notified Jan. 25/deadline Feb. 29)

MARCH 3

-- McKesson (N:MCK) MCK.N to acquire certain businesses, notably pharmaceutical wholesaling in UK and Ireland, from UDG Healthcare UDG.L (notified Jan. 14/deadline extended to March 3 from Feb. 18 after a national competition regulator asked to take over the case)

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MARCH 7

-- Private equity fund Lone Star Fund to acquire food and beverage vending machine maker N&W Global Vending NWGLV.UL (notified Feb. 1/deadline March 7/simplified)

MARCH 9

-- German agricultural services company Hauptgenossenschaft Nord to buy sector peer Roth Agrarhandel (notified on Feb. 3/deadline March 9/simplified)

MARCH 10

-- Israeli drugmaker Teva TEVA.TA to acquire U.S. peer Allergan (N:AGN_pa)'s AGN.N generics drugs business (notified Jan. 21/deadline extended to March 10 from Feb. 25 after Teva offers commitments)

-- Private equity firm KKR KKR.N to acquire sole control of French IT services provider Webhelp (notified on Feb. 4/deadline March 10/simplified)

-- EDF EDF.PA and China General Nuclear Power Corp forms NNB GenCo consortium for nuclear power plant construction (notified on Feb. 4/deadline March 10)

-- LVMH LVMH.PA is combining its private equity and real estate units with U.S. private equity firm Catterton to form L Catterton (notified on Feb. 4/deadline March 10/simplified)

MARCH 11

-- Nordic Capital to acquire Scandinavian fruits and vegetables distributor Greendeli Investment Holding (notified Feb. 5/deadline March 11/simplified)

MARCH 15

-- U.S. conglomerate United Technologies Corp (N:UTX) UTX.N to acquire Italian water heating appliances maker Riello Group (notified Feb. 9/deadline March 15/simplified)

-- China National Chemical Corp (ChemChina) CNNCC.UL to acquire German industrial machinery maker KraussMaffei Group KMGER.UL (notified Feb. 9/deadline March 15)

MARCH 16

-- Slot machine maker Loewen Entertainment German gambling halls operator Safari Holding and Schmidt Gruppe Service Gesellschaft fur Spielerschutz und pravention to set up a joint venture (notified Feb. 10/deadline March 16/simplified)

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-- French company Avril Pole Animal and German meat product processor Tonnies International Holding to set up a joint venture (notified Feb. 10/deadline March 16/simplified)

MARCH 17

-- British plastic packaging company RPC Group RPC.L to acquire French bottle-top maker Global Closure Systems (notified Feb. 11/deadline March 17/simplified)

MARCH 18

-- U.S. car parts distributor LKQ Corp LKQ.O to acquire Italy's Rhiag Group from private equity firm Apax Partners LLP (notified Feb. 12/deadline March 18)

MARCH 22

-- Private equity firm Equistone Partners Europe to acquire car parts maker Mecaplast Group (notified Feb. 16/deadline March 22/simplified)

-- Polyethylene terephthalate (PET) resin producer Indorama Netherlands to acquire Guadarranque Polyester (notified Feb. 16/deadline March 22)

-- Private equity firm Equistone Partners Europe SAS to acquire car parts maker Mecaplast Group (notified Feb. 16/deadline March 22/simplified)

MARCH 30

-- CK Hutchison Holdings Ltd 0001.HK and Vimpelcom VIP.O to merge their Italian mobile operations (notified Feb. 5/deadline extended to March 30 from March 11 after the Italian competition authority requested to take over the case)

-- Japanese employment agency Recruit 6098.T to acquire Dutch peer USG People USGP.AS (notified Feb. 19/deadline March 30/simplified)

APRIL 1

-- British rivate equity firm Bridgepoint Group to acquire Polish children's apparel and toy store chain SMYK Group (notified Feb. 23/deadline April 1/simplified)

APRIL 22

-- Hutchison Whampoa 0001.HK to acquire Telefonica 's TEF.MC O2 UK subsidiary (notified Sept. 11/deadline extended for the fifth time to April 22 from April 18)

JULY 12

-- 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 12 from Feb. 26 after the Commission opened an in-depth investigation)

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SUSPENDED

-- Oilfield services provider Halliburton (N:HAL) HAL.N to buy rival Baker Hughes BHI.N in a stock and cash transaction (notified Nov. 27/deadline suspended on Feb. 18 after companies failed to provide some information)

-- 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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