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EU mergers and takeovers (Dec 3)

Published 03/12/2018, 10:56 pm
Updated 03/12/2018, 11:01 pm
© Reuters.  EU mergers and takeovers (Dec 3)

BRUSSELS, Dec 3 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- U.S. investment management firm Centerbridge Partners to acquire sole control over UK-based General Healthcare Group (GHG) through the indirect acquisition of shares and the amendment of governance arrangements of GHG, making Hospital Topco Limited the parent company of GHG (approved Nov. 30)

-- U.S. food, snack and beverage corporation PepsiCo PEP.O to acquire all outstanding shares of Israeli-based manufacturing company SodaStream International SODA.TA (approved Nov. 30)

-- French fund Meridiam Transition and French state-owned investment fund Caisse des Depots et Consignations CDCEC.UL to acquire joint control of a holding company with a biofuel project and another in biomass (approved Nov. 30)

-- Czech Media Invest to acquire some of French magazine publisher Legardere's press activities, via Hachette Filipacchi, Legardere Publicity and Legardere Digital France (approved Nov. 30)

NEW LISTINGS

-- MML Capital Partners Fund VI GP Ltd to acquire joint control of Peggy Holdco Limited, a subsidiary of Australian funds management company Macquarie European Investment Holdings Limited (notified Nov. 29/deadline Jan. 15/simplified)

-- A6 Invest 9 TF, acting on behalf of Astorg Asset Management, and Montagu Private Equity LLP to acquire joint control of plastic drug delivery systems manufacturer, Nemera Capital and its subsidiaries (notified Nov. 29/deadline Jan. 15/simplified)

-- French logistics services company Bollore Africa Logistics and Dutch operator of container terminals APM Terminals BV to acquire joint control of Ivory Coast container terminal constructor Cote d'Ivoire Terminal (notified Nov. 29/deadline Jan. 15/simplified)

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EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

DEC 4

-- Investment fund manager CVC Capital Partners to acquire pharmaceutical company Recordati (notified Oct. 26/deadline Dec. 4)

-- Dutch DP World Investments, part of United Arab Emirates global marine terminal operator DP World Group, to acquire Danish company Unifeeder, a portfolio company of Jersey private equity house Nordic Capital (notified Oct. 26/deadline Dec. 04)

DEC 7

-- Equinor Refining Norway to acquire Danish energy trading company Danske Commodities (notified Oct. 31/deadline Dec 7/simplified)

-- German building materials company Knauf International to acquire Armstrong World Industries' AWI.N modular suspended ceilings business in the EMEA and APAC region (notified Oct. 17/deadline extended to Dec. 7 from Nov. 23 after commitments submitted)

DEC 10

-- French tire manufacturer and distributor Compagnie Generale des Etablissements Michelin MICP.PA to acquire sole control of Canadian tire and track manufacturer and distributor Camso Inc. and its subsidiaries (notified Nov. 5/deadline Dec. 10)

-- Insurance provider Generali CEE, subsidiary of Assicurazioni Generali GASI.MI , to acquire direct sole control over insurance and asset management company in Slovenia and Croatia, Adriatic Slovenica, Zavarovalna druzba and indirect control over its subsidiaries (notified Nov. 5/deadline Dec. 10)

DEC 11

-- U.S. battery maker Energizer Holdings ENR.N to acquire Spectrum Brands' SPB.N battery and portable lighting business (notified Oct. 19/deadline extended to Dec. 11 from Nov. 27 after commitments submitted)

-- Chemicals company Quaker Chemical Corp KWR.N and Hinduja Group's Houghton International HGINL.UL to merge (notified Oct. 19/deadline extended from Nov. 27 to Dec. 11/concessions offered March 2)

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-- UK mobile telephony provider Vodafone VOD.L to acquire U.S. Liberty Global's LBTYA.O telecommunications business in the Czech Republic, Germany, Hungary and Romania (notified Oct. 19/deadline Nov. 27/deadline extended to Dec. 11 after the German cartel office asked to review part of the deal)

-- German chemicals company BASF SE BASFn.DE and Solenis to combine their paper and water chemicals businesses, which will then be 49 percent owned by BASF and the rest by U.S. private equity investment firm Clayton, Dubilier & Rice (CD&R) (notified Nov. 6/deadline Dec. 11)

DEC 12

-- U.S. pizza restaurant operator Pizza Hut to integrate with Italian peer TelePizza TPZ.MC (notified Nov. 7/deadline Dec. 12)

DEC 13

-- Copper company KME, which is part of Intek Group IKG.MI , to acquire German peer MKM Mansfelder Kupfer and Messing GmbH (notified June 4/deadline Dec. 13)

-- Chinese electronic manufacturer Haier Group 1169.HK to acquire Italian domestic appliance manufacturer Candy S.p.A. (notified Nov. 8/deadline Dec. 13)

-- Portuguese CERF PL Resort, Unipessoal, Lda., controlled by Carlyle Europe Realty Fund, to acquire indirect ownership of Portuguese Penha Longa Resort which is managed by U.S. hotel chain Marriott International's MAR.O affiliate Luxury Hotels International Management Company (notified Nov. 8/deadline Dec. 13/simplified)

DEC 14

-- U.S. global supplier of driveline, sealing and thermal-management products Dana Incorporated DAN.N to acquire Oerlikon's drive systems business through the acquisition of GrazianoFairfield AG, a provider of gear, drive and shifting solutions for mobile vehicles and industrial equipment (notified Nov. 9/deadline Dec. 14/simplified)

-- European energy group MET Renewables to acquire joint control of Serbian wind farm project holder NIS Energowind together with the current shareholder, O Zone, a subsidiary of Serbian oil and energy company NIS (notified Nov. 9/deadline Dec. 14/simplified)

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-- New York sustainable waste and energy solutions business Covanta Holding Corporation CVA.N and specialist in green infrastructure Green Investment Group Limited to acquire a stake in wholly-owned subsidiary of Brockwell Energy Limited, Earls Gate Energy Limited in Scotland, through a jointly controlled investment vehicle (notified Nov. 9/deadline Dec. 14/simplified)

DEC 17

-- Japanese consumer electronics company Sharp Corporation 6753.T to acquire TV manufacturer and distributor Skytec UMC ltd (notified Nov. 12/deadline Dec. 17/simplified)

DEC 18

-- ENGIE ENGIE.PA , Predica Prévoyance Dialogue du Crédit Agricole and Omnes Capital to acquire joint control, through FEIH, of several wind farms owned by ENGIE Green France SAS and ENGIE Green Holding SAS, wholly owned subsidiaries of ENGIE (notified Nov. 13/deadline Dec. 18/simplified)

-- German energy company E.ON EONGn.DE , via its subsidiary E.ON Drive Infrastructure, and Finnish energy company Helen Oy to acquire joint control of Finnish e-mobility software company Liikennevirta Oy (notified Nov. 13/deadline Dec. 18/simplified)

-- Canadian holding company Fairfax Financial Holdings Limited FFH.TO to acquire sole control of insurance distributor in Greece and Romania, Eurolife ERB Insurance Group Holdings (notified Nov. 13/deadline Dec. 18/simplified)

DEC 19

-- Santander Consumer Bank AG SAN.MC and Hyundai Capital Services 005380.KS to set up a joint venture to offer loans and leases for automobiles (notified Nov. 14/deadline Dec. 19/simplified)

DEC 20

-- U.S. asset manager the Carlyle Group CG.O to acquire U.S. aviation investment manager Apollo Aviation Holdings Ltd (notified Nov. 15/deadline Dec. 20/simplified)

-- Packaging companies Amcor Limited AMC.AX , Arctic Jersey Limited, Arctic Corporation and Bemis BMS.N , Amcor and Bemis to combine through a merger of Bemis, Amcor and Bemis into New Holdco (notified Nov. 15/deadline Dec. 20)

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DEC 21

-- CP VII, a fund managed by global alternative asset manager Carlyle CG.O , to acquire risk management services provider Sedgwick (notified Nov. 16/deadline Dec. 21)

-- New York private investment firm Cerberus Group to acquire UK creative brand merchandising solutions company Marke Creative Merchandise (notified Nov. 16/deadline Dec. 21/simplified)

-- Investment manager CVC Capital Partners and financial company Mitsubishi UFJ Financial Group 8306.T to acquire title loan provider for the underbanked segment of Thai consumers, Ngern Tid Lor Company Limited together with its direct and indirect subsidiaries (notified Nov. 16/deadline Dec. 21/simplified)

-- French energy company Engie ENGIE.PA to acquire joint control of Windplus with utility company EDP Renewables and energy company Repsol (MC:REP) Nuevas Energias (notified Nov. 16/deadline Dec. 21/simplified)

-- Investment company BC European Capital X to acquire indirect sole control of South East Europe telecoms and media provider United Group ABBI.UL (notified Nov. 16/deadline Dec. 21)

-- Nordic investment and asset management company CapMan Group of companies and Korean asset management company NH-Amundi Asset Management to acquire 50 percent of shares of an onshore wind farm in Sweden from sole controller Green Investment Group Limited (notified Nov. 16/deadline Dec. 21/simplified)

JAN 3

-- Japanese car maker Toyota Motor Corp 7203.T and Monet Technologies Corporation, jointly controlled by Japanese SoftBank Corporation 9434.T , to set up a Japanese software platform joint venture (notified Nov. 19/deadline Jan. 3/simplified)

-- Japanese steel trading company Metal One Corp, a subsidiary of Mitsubishi Corp 8058.T , and trading and investment company Sumitomo Corporation 8053.T to acquire joint control of Metal One Pipe & Tubular Products Inc., a subsidiary of Metal One (notified Nov. 19/deadling Jan. 3/simplified)

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JAN 4

-- U.S. soft drinks company Coca-Cola (NYSE:KO) Co KO.N to acquire coffee chain Costa (notified Nov. 20/deadline Jan. 4)

JAN 8

-- Japanese industrial company MinebeaMitsumi 6479.T to acquire Japanese peer U-Shin 6985.T (notified Nov. 22/deadline Jan. 8/simplified)

-- French aerospace and defence group Thales TCFP.PA to acquire Franco-Dutch chipmaker Gemalto GTO.AS (notified June 18/deadline Jan. 8)

JAN 9

-- Autolaunch and Beijing Automotive Group BEJINS.UL subsidiary Beijing Electric Vehicle Co to set up a joint venture (notified Nov. 23/deadline Jan. 9/simplified)

-- China Reinsurance Group Corp 1508.HK to acquire insurer Chaucer from U.S. insurer Hanover Insurance Group THG.N (notified Nov. 23/deadline Jan. 9/simplified)

JAN 10

-- Turkish pension fund OYAK to acquire Portuguese cement producer Cimpor (notified Nov. 26/deadline Jan. 10/simplified)

-- Qatari Diar Real Estate Investment Company Q.P.S.C., a subsidiary of the Qatar Investment Authority, will acquire joint control alongside DV4 Limited, Oxford Jersey Holding Company Limited and Stichting Depositary APG Strategic Real Estate Pool over an existing UK real estate undertaking (notified Nov. 26/deadline Jan. 10/simplified)

-- Private investment manager Apollo Management APOLO.UL to acquire Bermuda insurance company Aspen Insurance Holdings Limited AHL.N (notified Nov. 26/deadline Jan. 10/simplified)

JAN 11

-- Japanese trading company Sumitomo Corp 8053.T and Japan's Toyota Motor Corp 7203.T to launch a Japanese full-function joint venture, MOBILOTS Corp, to supply financing for vehicles (notified Nov. 27/deadline Jan. 11/simplified)

-- Japanese trading company Sumitomo Corp 8053.T and Japanese Toyota Motor Corp 7203.T to launch a Japanese full-function joint venture, KINTO Corp, to supply mobility services (notified Nov. 27/deadline Jan. 11/simplified)

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-- German drink producer and distributor Dr. August Oetker Finanzierungs- und Beteiligungs-GmbH to acquire 49 percent of German F & B - Food and Beverage Services GmbH, a subsidiary of Transgourmet Deutschland GmbH & Co. (notified Nov. 27/deadline Jan. 11/simplified)

JAN 17

-- German copper products maker Wieland-Werke to acquire German copper smelter Aurubis' NAFG.DE flat rolled products unit Products Schwermetall (notified June 13/deadline Jan. 17)

JAN 25

-- German company BASF BASFn.DE to acquire Belgian chemicals company Solvay's SOLB.BR worldwide polyamide business (notified May 22/deadline Jan. 25/cocnessions offered on Oct. 15)

JAN 28

-- Siemens SIEGn.DE and Alstom ALSO.PA to merge their railway operations (notified June 8/deadline Jan. 28)

MAR 26

--- Germany's Thyssenkrupp TKAG.DE and India's Tata Steel TISC.NS to set up a steel joint venture (notified Sept. 25/deadline extended to March 26 from March 19 after the companies asked for more time)

APRIL 15

-- Electronic and motor manufacturing company Nidec 6594.T to acquire sole control of U.S. white goods maker Whirlpool (NYSE:WHR) Corp's WHR.N compressor subsidiary Embraco (notified Oct. 8/deadline extended to April 15 from Nov. 28 after the European Commission opened an in-depth investigation)

APRIL 16

-- Steel company Aperam APAM.AS to acquire Netherlands producer of materials from nickel and nickel alloy VDM Metals Holding (notified Oct. 23/deadline extended to April 16 from Nov. 29 after the European Commission opened an in-depth investigation)

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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