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EU mergers and takeovers (Oct 12)

Stock MarketsOct 13, 2017 03:20
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© Reuters. EU mergers and takeovers (Oct 12)

BRUSSELS, Oct 12 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- French carmaker Renault RENA.PA to acquire a 25 percent stake in electric car charging services Jedlix (approved Oct. 10)

NEW LISTINGS

-- Medical device maker Avantor, which is controlled by private equity firm New Mountain Capital, to acquire laboratory equipment distributor VWR VWR.O (notified Oct. 11/deadline Nov. 17)

-- Public pension fund provider ATP and Canadian teachers' pension fund OTPP to jointly acquire Danish airport operator Copenhagen airports (notified Oct. 10/deadline Nov. 16/simplified)

-- West Midland Holdings Ltd, which is a joint venture between Dutch rail operator Abellio Transport Holding BV, East Japan Railway Co and Mitsui Co 8031.T , to acquire the West Midlands franchise from London & Birmingham Railway Ltd (notified Oct. 10/deadline Nov. 16/simplified)

-- Private equity firms Carlyle Group CG.O , CVC CVC.AX and China Investment Corp CIC.UL to acquire joint control of French energy company Engie's ENGIE.PA holding company for oil and gas exploration and production business (notified Oct. 2/deadline Nov. 8/simplified)

-- Special purpose vehicle ShaMrock Wind to acquire 60 percent of Irish wind farm operator Evalair, which is jointly owned by Luricawne, Fixarra and Luricawne (notified Sept. 29/deadline Nov. 7/simplified)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

OCT 13

-- Italian infrastructure group Atlantia ATL.MI to acquire Spanish rival Abertis ABE.MC (notified Sept. 8/deadline Oct. 13)

-- Anglo-Dutch oil group Royal Dutch Shell RDSa.L to acquire indirect joint control of natural gas producer Crestwood Permian Basin LLC which is now solely controlled by Crestwood Permian Basin Holdings (notified Sept. 8/deadline Oct. 13/simplified)

OCT 16

-- Swiss food company Nestle NESN.S to acquire sole control of Beverage Partners Worldwide, a joint venture between Nestle and the Coca-Cola Co KO.N (notified Oct. 11/deadline Oct. 16)

OCT 17

-- 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 Oct. 17)

OCT 18

-- U.S. medical equipment supplier Becton Dickinson and Co BDX.N to acquire U.S. peer C R Bard Inc BCR.N (notified Aug. 30/deadline extended to Oct.18 after commitments submitted on Sept. 27)

-- Bermuda-headquartered reinsurer Axis Capital Holdings Ltd to acquire UK insurer Novae NVA.L (notified Sept. 13/deadline Oct. 18/simplified)

-- German insurer Allianz ALVG.DE to acquire UK financial services group Liverpool Victoria Friendly Society Ltd's LV.UL general insurance businesses (notified Sept. 13/deadline Oct. 18/simplified)

OCT 20

-- U.S. life sciences company Avantor to acquire U.S. lab supplies company VWR VWR.O (notified Sept. 15/deadline Oct. 20)

OCT 23

-- Dutch warehouse owner Borealis European Holdings B.V., Ontario Teachers' Pension Plan Board and SSE (LON:SSE) to acquire joint control of UK energy meter company Maple (notified Sept. 18/deadline Oct. 23/simplified)

OCT 24

-- U.S. company Platinum Equity Group to acquire UK aerospace distributor Pattonair Holdings Ltd (notified Sept. 19/deadline Oct. 24/simplified)

-- UK energy company Greenergy to acquire fuel supplier Inver Energy Ltd (notified Sept. 19/deadline Oct. 24)

OCT 25

-- Jacobs Engineering Group (NYSE:JEC) to acquire technical consulting services provider CH2M Hill Companies (notified Sept. 20/deadline Oct. 25/simplified)

-- Private equity firm Warburg Pincus WP.UL and carmaker Tata Motors TAMO.NS to jointly acquire Tata Technologies (notified Sept. 20/deadline Oct. 25/simplified)

OCT 26

-- Luxembourg-based steelmaker ArcelorMittal MT.AS to acquire Italian steel plant (notified Sept. 21/deadline Oct. 26)

-- French car parts maker Valeo VLOF.PA to acquire German clutch maker FTE Automotive(notified Sept. 7/deadline Oct. 26/commitments submitted Sept. 7)

OCT 27

-- German chemicals company Evonik EVKn.DE and Dutch peer DSM DSMN.AS to set up a joint venture (notified Sept. 22/deadline Oct. 27/simplified)

OCT 30

-- British company CRH (LON:CRH) plc CRH.I to acquire XI (RMAT) Holdings GmbH, the German holding company of limestone producer Fels-Werke GmbH which is part of Xella International (notified Sept. 25/deadline Oct. 30)

OCT 31

-- French energy company Engie ENGIE.PA and Caisse des Depots et Consignations CDCEC.UL to acquire joint control of a wind power producer (notified Sept. 26/deadline Oct. 31/simplified)

-- Private equity firm Equistone Partners Europe SAS to acquire French furniture disbributor Groupe Bruneau (notified Sept. 26/deadline Oct. 31/simplified)

NOV 3

Private equity firm Leonard Green & Partners to acquire legal services provider CPA Global Group (notified Sept. 27/deadline Nov. 3/simplified)

NOV 8

-- Private equity-backed Neptune Oil & Gas to acquire majority stake in French utility Engie's ENGIE.PA exploration and production business (notified Oct.2/deadline Nov.8/simplified)

NOV 10

-- German auto components supplier Bosch ROBG.UL and Chinese counterpart Hasco to acquire electric power steering products maker ASCN (notified Oct. 4/deadline Nov. 10/simplified)

NOV 15

-- China's Legend Holdings 3396.HK to acquire 90 percent of Banque Internationale a Luxembourg (BIL) from Qatari investment vehicle Precision Capital (notified Oct. 9/deadline Nov. 15/simplified)

JAN 22

-- German industrial group Bayer BAYGn.DE to acquire U.S. seeds company Monsanto (NYSE:MON) MON.N (notified June 30/deadline extended to Jan. 22 from Jan. 8 after the companies asked for more time)

FEB 12

-- Italian eyewear maker Luxottica LUX.MI and French lens manufacturer Essilor ESSI.PA to merge (notified Aug. 22/deadline extended to Feb. 12 from Sept. 26 after the European Commission opened an in-depth investigation)

SUSPENDED

-- U.S. smartphone chipmaker Qualcomm QCOM.O to acquire Dutch company NXP Semiconductors NV NXPI.O (notified April 28/deadline suspended from Aug. 17/concessions offered Oct. 5)

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.

EU mergers and takeovers (Oct 12)
 

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