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EU mergers and takeovers (Nov 19)

Published 19/11/2015, 10:43 pm
© Reuters.  EU mergers and takeovers (Nov 19)

BRUSSELS, Nov 19 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Bain Capital Investors to acquire car parts distributor Autodistribution Group (approved Nov. 19)

-- Austrian insurer Generali (MI:GASI) Holding Vienna's Generali Pensionskasse AG subsidiary and Zürich Versicherungs-Aktiengesellschaft's BONUS Pensionskassen unit to merge (approved Nov. 19)

-- Canadian car parts supplier Magna International MG.TO to acquire car parts maker Stadco Automotive Ltd (approved Nov. 19)

-- The Carlyle Group CG.O to acquire PA Consulting (approved Nov. 19)

NEW LISTINGS

-- Transgourmet, a unit of Switzerland's Coop COOPS.UL , to buy Austria's C+C Pfeiffer, a subsidiary of the Pfeiffer trading group, as well as to take a 50 percent stake in centralised purchasing team Top Team (notified Nov. 18/deadline Dec. 23/simplified)

-- Novartis to buy remaining rights to Ofatumumab from Britain's GlaxoSmithKline GSK.L (notified Nov. 18/deadline Dec. 23)

EXTENSIONS AND OTHER CHANGES

-- U.S. drinks can maker Ball Corp (N:BLL) BLL.N to acquire British rival Rexam Plc REX.L (notified June 15/deadline extended for the third time to Jan 22 from Dec. 23)

FIRST-STAGE REVIEWS BY DEADLINE

NOV 23

-- U.S. chipmaker Avago Technologies AVGO.O to acquire U.S. peer Broadcom Corp BRCM.O (notified Oct. 2/deadline extended to Nov. 23 from Nov. 9 after Avago offered concessions)

-- Finland's Fortum FUM1V.HE and Lithuanian state-owned energy group Lietuvos Energija to set up a joint venture (notified Oct. 16/deadline Nov. 23)

NOV 27

-- Panasonic Healthcare, which is backed by private equity firm KKR KKR.N , and Japan's Panasonic Corp 6752.T , to acquire Bayer's BAYGn.DE diabetes care business (notified Oct. 22/deadline Nov. 27)

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DEC 1

-- Swiss chemicals company Ineos to acquire UK North Sea gas fields from the DEA Group (notified Oct. 26/deadline Dec. 1/simplified)

DEC 2

-- Belgian chemical group Solvay SOLB.BR to acquire U.S. peer Cytec CYT.N (notified Oct. 13/deadline Dec. 2)

DEC 3

-- French supermarket chain Carrefour CARR.PA to acquire French electronic products retailer Rue du Commerce (notified Oct. 28/deadline Dec. 3/simplified)

DEC 7

-- U.S. fertiliser maker CF Industries Holdings (N:CF) CF.N to acquire OCI NV's OCI.AS North American and European plants (notified Oct. 30/deadline Dec. 7)

-- French investment company Ardian France to acquire food ingredient maker Solina (notified Oct. 30/deadline Dec. 7/simplified)

-- Enel Green Power ENEI.MI and asset management company F2I to set up a joint venture (notified Oct. 30/deadline Dec. 7)

-- German carmaker BMW and heating and refrigeration systems maker Viessmann to set up Digital Energy Solutions GmbH (notified Oct. 30/deadline Dec. 7/simplified)

-- Investment firm Oaktree Capital Group OAK.N , Swedish builder Skanska SKAb.ST and hotel operator Starwood Hotels & Resorts Worldwide (N:HOT) HOT.N to acquire Polish hotel operator Hotel Atrium (notified Oct. 30/deadline Dec. 7/simplified)

DEC 8

-- Swedish state utility Vattenfall and GDF Suez (PA:ENGIE) Energie Deutschland AG to to set up a consortium (notified Nov. 3/deadline Dec. 8)

-- U.S. conglomerate Koch Industries KCHIN.UL and BDT Capital Partners to acquire joint control of U.S. lighting maker Truck-Lite (notified Nov. 3/deadline Dec. 8/simplified)

DEC 9

-- Austrian home improvement chain OBI OBI.UL to acquire some retail sites from Austrian peer BauMax (notified Nov. 4/deadline Dec. 9)

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DEC 10

-- German dairy producer DMK Deutsches Milchkontor GmbH to acquire Dutch cheese producer DOC Kaas B.V. (notified Nov. 5/deadline Dec. 10)

-- Spanish bank Banco Santander SAN.MC and private equity firm Pai Partners to jointly control Grupo Konectanet (notified Nov. 5/deadline Dec. 10/simplified)

DEC 11

-- Private equity firm KKR KKR.N to acquire Swiss-based vending machine operator Selecta (notified Nov. 6/deadline Dec. 11/simplified)

-- Private equity firm LetterOne Holdings to acquire German energy company E.ON's EONGn.DE oil and gas assets in the Norwegian North Sea (notified Nov. 6/deadline Dec. 11/simplified)

-- Trading company Gunvor Group to acquire refinery operator Kuwait Petroleum Europoort (notified Nov. 6/deadline Dec. 11/simplified)

-- Swiss Re SRENH.VX to acquire Guardian Financial Services (notified Nov. 6/deadline Dec. 11/simplified)

-- UK insurer Aviva AV.L and the Public Sector Pension Investment Board to set up a property joint venture (notified Nov. 6/deadline Dec. 11/simplified)

DEC 12

-- Canadian auto parts maker Linamar LNR.TO to acquire French peer Montupet MNTP.PA (notified Nov. 6/deadline Dec. 12)

DEC 14

-- French bank Caisse des Depots, Abu Dhabi-based investment and development firm Mubadala Development Co MUDEV.UL and Vivalto Bel to jointly acquire French private health club operator Group Vivalto Sante (notified Nov. 9/deadline Dec. 14)

DEC 16

-- Private equity firm Vista Equity Partners to acquire technology company Solera Holdings Inc SLH.N (notified Nov. 11/deadline Dec. 16)

-- Commodity trader Trafigura to acquire de facto sole control of Belgian zinc producer Nyrstar NYR.BR (notified Nov. 11/Dec. 16)

DEC 17

-- Germany's Bertelman BTGGg.F plans to buy remaining 25.1 percent stake in printing group Privonis from Axel Springer SPRGn.DE . (notified Nov. 12/ deadline Dec. 17)

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-- France's Michelin MICP.PA and Fives FLINSF.UL plan joint venture in metal 3D printing (notified Nov. 12/ deadline Dec. 17/simplified)

-- The Ontario Municipal Employees Retirement System (Omers) to buy out environment and social issues consultant ERM with the Alberta Investment Management Corp as a co-investor (notified Nov. 12/ deadline Dec. 17/simplified)

-- Canadian car parts supplier Magna International MG.TO to acquire German automotive transmission systems maker Getrag (notified Nov. 12/deadline Dec. 17)

DEC 18

AXA AXAF.PA and Danish public pension fund ATP plan to acquire control of two hotels jointly with Club Quarters (notified Nov. 13/ deadline Dec. 18/simplified)

DEC 21

-- Finnish stainless steel maker Outokumpu to acquire shares in Germany's Hernandez Edelstahl (notified Nov. 16/deadline Dec. 21)

DEC 22

-- EQT Services to acquire 75 percent of Top-Toy, a toy retailer in the Nordic Countries and Germany (notified Nov. 16/deadline Dec. 22/simplified)

DEC 23

-- Transgourmet, a unit of Switzerland's Coop COOPS.UL , to buy Austria's C+C Pfeiffer, a subsidiary of the Pfeiffer trading group, as well as to take a 50 percent stake in centralised purchasing team Top Team (notified Nov. 18/deadline Dec. 23/simplified)

-- Novartis to buy remaining rights to Ofatumumab from Britain's GlaxoSmithKline GSK.L (notified Nov. 18/deadline Dec. 23)

JAN 13

-- U.S. packages delivery company FedEx (N:FDX) FDX.N to acquire Dutch peer TNT TNTE.AS (notified July /deadline extended to Jan. 13 from Dec. 8 after the companies asked for more time)

JAN 18

-- South African paper maker Mondi MNDJ.J MNDI.L to acquire some assets from portfolio company Walki (notified July 29/deadline extended to Jan. 18 from Sept. 2 after the European Commission opened an in-depth investigation)

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JAN 22

-- U.S. drinks can maker Ball Corp BLL.N to acquire British rival Rexam Plc REX.L (notified June 15/deadline extended for the third time to Jan 22 from Dec. 23 after companies submitted commitments)

MARCH 2

-- U.S. office supplier Staples SPLS.O to acquire U.S. rival Office Depot ODP.O (notified Aug. 21/deadline extended for the second time to March 2 from Feb. 10 after the companies asked for more time)

MARCH 17

-- Cable telecoms company Liberty Global's LBTYA.O Belgian subsidiary Telenet TNET.BR to buy mobile network operator Base from Dutch group KPN KPN.AS (notified Aug. 17/deadline extended to March 17 from March 3)

APRIL 18

-- Hutchison Whampoa 0001.HK to acquire Telefonica 's TEF.MC O2 UK subsidiary (notified Sept. 11/deadline extended for the fourth time to April 18 from March 16 after Hutchison asked for more time)

SUSPENDED

-- Oilfield services provider Halliburton (N:HAL) HAL.N to buy rival Baker Hughes (N:BHI) BHI.N in a stock and cash transaction (notified July 23/deadline suspended after the companies provided insufficient 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.

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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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