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EU mergers and takeovers (Jan 31)

Published 01/02/2018, 03:43 am
Updated 01/02/2018, 03:50 am
© Reuters.  EU mergers and takeovers (Jan 31)

BRUSSELS, Jan 31 (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. insulation and roofing company Owens Corning Finland OC.N to acquire financial services provider Parry 1 Holding (approved Jan. 30)

NEW LISTINGS

-- Australian chemicals maker Nufarm NUF.AX to acquire European crop protection product portfolio from Adama Agricultural Solutions Ltd ADAM.N and Syngenta (notified Jan. 30/deadline March 6)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

FEB 6

-- Italian EDF EDF.PA unit Edison to buy Gas Natural's unit GAS.MC Gas Natural Vendita Italia (notified Nov. 22/deadline Feb. 6/simplified)

-- German engineering group Hochtief HOTG.DE to take sole control of Spanish peer Abertis ABE.MC (notified Dec 22/deadline Feb 6.)

-- U.S. television network Discovery Communications DISCA.O to acquire U.S. peer Scripps Networks Interactive Inc SNI.O (notified Dec. 8/ deadline extended to Feb. 6 after Discovery offered concessions)

FEB 12

-- Swiss logistics group Kuehne + Nagel to acquire sole control of the drinks distribution joint venture Kuehne + Nagel Drinkflow Logistics Holdings Limited (notified Jan. 8/deadline Feb. 12/simplified)

-- Ireland's Toohil Telecom to acquire Eircom Holdco SA from a group of investors. (notified Jan. 8/deadline Feb. 12/simplified)

FEB 13

-- Private Equity Fund Nordic Capital VIII Limited to buy Alloheim Senioren-Residenzen Holding SE (notified Jan. 9/ deadline Feb. 13/ simplified)

-- EDF unit EDF ENR PWT and Canadian Solar to set up a joint venture (notified Jan. 9/ deadline Feb. 13/ simplified)

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FEB 14

-- Car rental company Avis Budget Group CAR.O and Turkey's Koc Holding KCHOL.IS to acquire Avis' Greek franchisee (notified Jan. 10/deadline Feb. 14/simplified)

-- Units of Ivanhoe Cambridge and QuadReal Property to set up joint venture to invest in Indian real estate projects, particularly logistics parks (notified Jan. 10/ deadline Feb. 14/ simplified)

FEB 15

-- Private equity firm Waterland to acquire Dutch energy provider De Nederlandse Energie Maatschappij (notified Jan. 11/deadline Feb. 15/simplified)

FEB 16

-- German industrial gases group Linde LING.DE to merge with U.S. peer Praxair (NYSE:PX) PX.N (notified Jan. 12/ deadline Feb. 16)

-- Shipping terminal investment holding PSA International to transfer sole control over PSA Panama International Terminal to joint control by PSA International and Terminal Investment Limited (notified Jan. 12/ deadline Feb. 16/ simplified)

FEB 20

-- Swiss Bell Food, part of Coop-Group, to buy all of Stoffel Holding AG and indirectly obtaint 50.22 pct of the capital and 65.01 pct of the voting right of food producer Huegli Holding HUE.S (notified Jan. 16/ deadline Feb. 20/ simplified)

-- Macquarie Super Core Infrastructure Fund and Allianz (DE:ALVG) Infrastructure Luxembourg to jointly acquire Lakeside Network Investments, an investor in Finnish electricity and district heating networks (notified Jan. 16/ deadline Feb. 20/ simplified)

-- Goldman Sachs (NYSE:GS) and Riverstone Investment Group to jointly acquire Lucid Energy Group II, a provider of natural gas processing and gathering in the United States (notified Jan. 16/ deadline Feb. 20/ simplified)

FEB 21

-- U.S. car parts supplier Key Safety Systems, which is a unit of China's Ningbo Joyson Electronic Corp 600699.SS , to acquire Japanese car parts maker Takata Corp (notified Jan. 17/deadline Feb. 21)

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FEB 22

-- Czech energy utility EPH to acquire a stake in power plant Matrai Eromu (notified Jan. 18/deadline Feb. 22/simplified)

-- Aerospace and defence group Northrop Grumman (NYSE:NOC) NOC.N to buy launch vehicle maker Orbital ATK (notified Jan. 18/ deadline Feb. 22/ simplified)

-- Spanish insurer Mapfre MAP.MC to promote renewal of guarantee insurance policies in Spain through a joint venture with France's Euler Hermes ELER.PA (notified Jan. 18/ deadline Feb. 22/ simplified)

FEB 23

-- Votorantim Geracao de Energia, which is a unit of Votorantimand Canada Pension Plan Investment Board, to acquire several windfarm companies (notified Jan. 19/deadline Feb. 23/simplified)

FEB 26

-- Baking products maker the Oetker-Gruppe to acquire Belgian bakery goods supplier Diversi Foods (notified Jan. 22/deadline Feb. 26/simplified)

-- Anglo-Dutch oil group Royal Dutch Shell plc RDSa.L to acquire retail energy supplier Impello Limited (notified Jan. 22/deadline Feb. 26/simplified)

FEB 27

-- Private equity firm PAI and Canadian institutional investor British Columbia Investment Management Corp to jointly acquire fruit juice maker Refresco (notified Jan. 23/deadline Feb. 27/simplified)

FEB 28

-- Spanish energy company Repsol REP.MC and South Korean carmaker KIA Motors 000270.KS to set up a car-sharing joint venture (notified Jan. 24/deadline Feb. 28/simplified)

-- Chinese car parts maker Hasco and Canadian peer Magna MG.TO to set up a joint venture (notified Jan. 24/deadline Feb. 28/simplified)

-- Private equity firm Bain Capital to acquire Italian paper company Fedrigoni (notified Jan. 24/deadline Feb. 28/simplified)

MARCH 2

-- Private equity firm TA Associates to aquire a minority stake in software company Flexera Holdings (notified Jan. 26/deadline March 2/simplified)

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-- Insurer ReAssure, which is part of Swiss Re SRENH.S , to acquire UK insurer Legal & General Group's LGEN.L Actaeon insurance business (notified Jan. 26/deadline March 2/simplified)

MARCH 5

-- French private equity firm Pai Partners to acquire French packaging group Albea (notified Jan. 29/deadline March 5/simplified)

MARCH 12

-- German industrial group Bayer BAYGn.DE to acquire U.S. seeds company Monsanto (NYSE:MON) MON.N (notified June 30/deadline extended to March 12 from March 5)

MARCH 22

-- Italian eyewear maker Luxottica LUX.MI and French lens manufacturer Essilor ESSI.PA to merge (notified Aug. 22/deadline extended to March 22 from March 8)

MARCH 26

-- U.S. specialty material company Celanese CE.N and private equity firm Blackstone (NYSE:BX) BX.N to combine their cellulose acetate tow units under a new joint venture (notified Sept. 9/deadline extended to March 26 from March 19)

APRIL 4

-- Luxembourg-based steelmaker ArcelorMittal MT.AS to acquire Italian steel plant (notified Sept. 21/deadline extended to April 4 from March 23 after the companies asked for more time)

MAY 30

-- South African chemicals company Tronox TROX.N to acquire the titanium dioxide business of Cristal, a subsidiary of Saudi Arabia's Tasnee (notified Nov. 15/deadline extended to May 30 from mAY 15)

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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