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EU mergers and takeovers (July 1)

Published 01/07/2016, 11:28 pm
Updated 01/07/2016, 11:30 pm
© Reuters.  EU mergers and takeovers (July 1)

BRUSSELS, July 1 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Private equity firm Silver Lake Group to acquire sole control of French IT services provider Cegid CEGI.PA (approved June 30)

-- German agricultural commodities cooperative Agravis to acquire a minority stake in German palm products and animal feed trading house H. Boegel from Singapore-listed commodities group Wilmar International WLIL.SI (approved June 30)

-- British insurer Aviva Group AV.L and Credit Mutuel Insurance Group to acquire joint control of an office building in Paris, France (approved June 30)

NEW LISTINGS

-- Australian investment bank Macquarie MQG.AX and Swiss Life Group to acquire joint control of Italian transmission system operator Societa Gasdoti Italia S.p.A. (notified June 29/deadline Aug. 4/simplified)

-- Italian refinery Raffineria di Milazzo S.C.p.A., which is jointly controlled by Italian oil producer Eni S.p.A. ENI.MI and Kuwait Petroleum Italia S.p.A., to joint Italian thermal power plant Termica Milazzo from Italian energy group Edison S.p.A. EDNn.MI (notified June 27/dateline Aug. 2/simplified)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

JULY 7

-- Spanish bank Banco Santander SAN.MC to acquire some of Portuguese lende Banif's assets (notified June 2/deadline July 7)

JULY 11

-- French company Plastic Omnium PLOF.PA to acquire French car parts maker Faurecia's EPED.PA auto exteriors business (notified May 23/deadline extended to July 11 from June 27 after Omnium offered concessions)

JULY 13

-- French conglomerate Bouygues BOUY.PA , French airport developer Aeroports de Paris and infrastructure project investor Meridiam to acquire joint control of Ravinala Airports which will develop and maintain airports in Madagascar (notified June 8/deadline July 13/simplified)

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-- German company Boehringer Ingelheim to acquire French pharmaceutical company Sanofi's SASY.PA animal health buisness (notified June 8/deadline July 13)

JULY 14

-- UK packaging maker RPC Group RPC.L to acquire British Polythene Industries BRPI.L (notified June 9/deadline July 14/simplified)

-- Spanish online bank Bancopopular-e, which is 49 percent owned by Banco Popular Espanol POP.MC , to acquire UK lender Barclays' BARC.L consumer payments business in Portugal and Spain (notified June 9/deadline July 14/simplified)

JULY 15

-- U.S. company Verizon Communications (NYSE:VZ) VZ.N and U.S. publisher Hearst Corp to jointly acquire U.s. digital media company Complex (notified June 10/deadline July 15/simplified)

-- Private equity firm PIA Partners-owned R&R Ice Cream and Nestle NESN.S to set up a joint venture to sell ice cream and frozen food (notified June 10/deadline July 15)

-- Polish investment company Kulczyk Holding S.A. and construction company Strabag Sp. z.o.o., which is a unit of Austrian construction group Strabag SE STRV.VI , to set up a joint venture (notified June 10/deadline July 15/simplified)

JULY 19

-- British mobile telephony operator Vodafone VOD.L and U.S. cable company Liberty Global LBTYA.O to merge their Dutch operations (notified June 14/deadline July 19)

-- Dutch investment company NPM Capital and Thijs Hendrix Beheer B.V. to jointly acquire animal and fish breeder Hendrix Genetics, which is now controlled by Thijs Hendrix Beheer (notified June 14/deadline July 19/simplified)

JULY 20

-- U.S. generic drugmaker Mylan MYL.O to acquire Swedish peer Meda MEDAa.ST (notified June 1/deadline extended to July 20 from July 6 after Mylan offered concessions)

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-- U.S. private equity firm AEA to acquire Danish freight forwarder Scan Global Logistics (notified June 15/deadline July 20/simplified)

-- Private investor firms Partners Group and Infrared Capital Partners to jointly acquire Merkur Offshore (notified June 15/deadline July 20/simplified)

-- French drugmaker Sanofi SASY.PA to acquire Germany company Boehringer Ingelheim's consumer healthcare business (notified June 15/deadline July 20)

JULY 22

-- Spanish online bank Bancopopular-e, which is 49-percent owned by Banco Popular Espanol POP.MC , to acquire Portuguese lender Banco Popular Portugal's payment cards' buisness (notified June 16/deadline July 22/simplified)

-- Private investment company Maxburg Investments II GmbH & Co and VR Equity Partner to jointly acquire German fabric producer Norafin Verwaltungs GmbH (notified June 16/deadline July 22/simplified)

-- Investment bank Goldman Sachs (NYSE:GS) GS.N and Deutsche Bank DBKGn.DE to jointly acquire some assets from National Bank of Greece NBGr.AT (notified June 16/deadline July 22/simplified)

JULY 25

-- French oil and gas producer Total TOTF.PA to acquire sole control of French industrial battery maker Saft Groupe S.A. S1A.PA (notified June 17/deadline July 25/simplified)

-- Finnish crane maker Konecranes KCR1V.HE to acquire U.S. crane maker Terex's GS.N cranes business for ports and factories (MHPS) (deadline June 17/deadline July 25)

-- U.S. private equity firm Warburg Pincus WP.UL and French investment firm Wendel MWDP.PA to set up a joint venture (notified June 17/deadline July 25/simplified)

JULY 26

-- Japanese trading house Sumitomo Corp 8053.T and Japanese marketing company MonotaRO Co to set up an Indonesian joint venture (notified June 20/deadline July 26/simplified)

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-- Czech energy group Energeticky a prumyslovy holding, a.s (EPH) to acquire Italian utility Enel's ENEI.MI Slovakian company Slovenske elektrarne a.s (notified June 20/deadline July 26)

JULY 27

-- Investment firms IK and Five Arrows Managers to jointly acquire French real estate intermediary I@D (notified June 21/deadline July 27/simplified)

-- Novy Invest, BNP Paribas (PA:BNPP) Fortis, Sofindev IV and DHAM NV to jointly acquire kitchen appliances makerNovy International (notified June 21/deadline July 27/simplified)

JULY 28

- U.S. chemicals company Dow Chemical (NYSE:DOW) DOW.N to merge with DuPont (NYSE:DD) DD.N (notified June 22/deadline July 28)

JULY 29

-- Jones Lang LaSalle to acquire UK management services provider Integral UK Holding (notified June 23/deadline July 29/simplified)

-- General Motors (NYSE:GM) France GM.N and French car retailer Groupe Dubreuil Claro to set up a joint venture (notified June 23/July 29/simplified)

AUG 1

-- Sony Corp 6758.T to buy out the Michael Jackson estate's stake in its music publishing joint venture (notified June 24/deadline Aug. 1)

-- Private equity firm Thoma Bravo to acquire business intelligence software company Qlik Technologies QLIK.O (notified June 24/deadline Aug. 1/simplified)

AUG 2

-- Chinese gaming group Tencent Holdings Ltd 0700.HK to acquire Finnish mobile game maker Supercell from Japanese Internet and telecoms group SoftBank Group 9984.T (notified June 27/deadline Aug. 2/simplified)

AUG 4

-- Swedish carmaker Volvo VOLVb.ST to acquire joint control of financial services provider Volvofinans Bank (notified June 29/deadline Aug. 4/simplified)

AUG 10

-- 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 Aug. 10 from July 27/concessions offered May 4)

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SEPT 8

-- CK Hutchison Holdings Ltd 0001.HK and Vimpelcom VIP.O to merge their Italian mobile operations (notified Feb. 5/deadline extended to Sept. 8 from Aug 18)

OCT 18

-- U.S. rail equipment maker Wabtec Corp WAB.N to acquire French peer Faiveley Transport SA FAIP.PA (notified April 4/deadline extended for the second time to Oct 18 from Sept. 20)

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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