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EU mergers and takeovers (Aug 29)

Published 30/08/2017, 01:47 am
© Reuters.  EU mergers and takeovers (Aug 29)
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BRUSSELS, Aug 29 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- General Electric (NYSE:GE) GE.N and global investments provider Macquarie Corporate Holdings to acquire joint control of Markbygden ETT AB, an onshore wind farm project in Sweden (approved Aug. 28)

NEW LISTINGS

-- German car parts maker Aunde Achter & Ebels GmbH and Bader GmbH and Co to set up a joint venture (notified Aug. 25/deadline Sept. 29/simplified)

EXTENSIONS AND OTHER CHANGES

none

FIRST-STAGE REVIEWS BY DEADLINE

AUG 31

-- French dairy company Groupe Lactalis to acquire German peer Omira (notified July 26/deadline Aug. 31)

SEPT 1

-- Television holding groups ProSiebenSat.1 Media PSMGn.DE of Germany, France's TV group TF1 TFFP.PA and Mediaset MS.MI with networks in Italy and Spain to establish a joint venture selling advertising space (notified July 27/deadline Sept. 1/simplified)

SEPT 6

-- Pamplona Capital to acquire biopharmaceutical company Parexel PRXL.O (notified Aug. 1/deadline Sept. 6/simplified)

SEPT 11

-- Cinven Capital Management CINV.UL and the Canada Pension Plan Investment Board to acquire joint control of GTA Travel Holding Ltd (notified Aug. 4/deadline Sept. 11)

-- French banking group BNP Paribas Group BNPP.PA to acquire sole control of PEH Milan Holdco S.r.l, thus establishing joint control of the latter's two hotels in Italy with Starwood Hotels & Resorts Worldwide (NYSE:HOT), a subsidiary of Marriott International MAR.O , which manages the hotels (notified Aug. 4/deadline Sept. 11/simplified)

SEPT 12

-- Telecommunications infrastructure maintenance company CTDI GmbH, jointly controlled by Communication Test Design, Inc. and Deutsche Telekom AG DTEGn.DE , to acquire EMEA electronics repair business of Regenersis Services Ltd. from CTDI Inc., changing current sole control to joint control via CTDI GmbH (notified Aug. 7/deadline Sept. 12/simplified)

-- Private equity group Bridgepoint BRDG.UL and Credit Mutuel Arkea CCMSOC.UL to establish joint control of French asset manager Groupe Primonial (notified Aug. 7/deadline Sept. 12/simplified)

SEPT 14

-- Norwegian-based DNB Bank ASA and Swedish Nordea Bank AB NDA.ST to establish a joint venture concerning their banking activities in Estonia, Latvia and Lithuania(notified Aug. 9/deadline Sept. 14)

SEPT 15

-- Investment firm Centerbridge Partners L.P. and Enel (MI:ENEI) Green Power Hellas S.A. to create a jointly controlled wind farm venture in Greece (notified Aug. 10/deadline Sept. 15/simplified)

SEPT 18

-- Private equity firms CVC and PAI Partners to acquire the rest of Spanish retailer Cortefiel (notified Aug. 11/deadline Sept. 18/simplified)

SEPT 20

-- China Investment Corporation CIC.UL to acquire European warehouse firm Logicor (notified Aug. 16/deadline Sept. 20/simplified)

-- Buyout group KKR KKR.N to acquire Dutch car park operator Q-Park (notified Aug. 16/deadline Sept. 20/simplified)

SEPT 26

-- Italian eyewear maker Luxottica LUX.MI and French lens manufacturer Essilor ESSI.PA to merge in 46 bln-euro deal (notified Aug. 22/deadline Sept. 26)

-- French reinsurance company Scor SCOR.PA to acquire MutRe, a French company involved in the reinsurance of companies' insurance policies (notified Aug. 22/deadline Sept. 26/simplified)

SEPT 27

-- Swedish real estate company Fastighets AB Balder to buy shares in Serena Properties, jointly owned by Finnish pension fund Varma (notified Aug. 23/deadline Sept. 27/simplified)

SEPT 28

-- VCI ventures, a subsidiary of VW credit VOWG_p.DE to acquire joint control of AutoGravity with DA Investments, subsidiary of Daimler DAIGn.DE (notified Aug. 24/simplified/deadline Sept. 28)

SEPT 29

-- Irish agribusiness company ABP Food Group to acquire an additional stake in Linden Foods Limited, active in the slaughtering and processing of beef and ovine animals (notified Aug. 25/deadline Sept. 29)

-- 3M MMM.N to buy Johnson Controls (NYSE:JCI)' safety gear unit Scott Safety JCI.N for $2 billion (notified Aug. 25/deadline Sept. 29)

-- Private equity group Triton to take joint control over Dutch mechanical and electrical engineering services provider Unica Groep (notified Aug. 25/deadline Sept. 29/simplified)

-- Swiss asset manager Partners Group PGHN.S to buy UK software firm Civica for 1 billion pounds ($1.29 billion) (notified Aug. 25/deadline Sept. 29/simplified)

DEC 6

-- U.S. smartphone chipmaker Qualcomm QCOM.O to acquire Dutch company NXP Semiconductors NV NXPI.O (notified April 28/deadline Dec. 6)

JAN 8

-- German industrial group Bayer BAYGn.DE to acquire U.S. seeds company Monsanto (NYSE:MON) MON.N (notified June 30/deadline extended to Jan. 8 2018 after Commission opened in-depth investigation)

DEADLINE SUSPENDED

-- German brake systems maker Knorr-Bremse STELLG.UL to acquire Swedish peer Haldex HLDX.ST (notified June 1/deadline suspended on Aug. 22)

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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