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EU mergers and takeovers (Sept 11)

Published 12/09/2017, 03:27 am
Updated 12/09/2017, 03:30 am
© Reuters.  EU mergers and takeovers (Sept 11)

BRUSSELS, Sept 11 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Cinven Capital Management CINV.UL and the Canada Pension Plan Investment Board to acquire joint control of GTA Travel Holding Ltd (approved Sept. 8)

NEW LISTINGS

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

-- 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)

-- Private equity firms Blackstone (NYSE:BX), Massachusetts Mutual Life Insurance Company and Cambourne Life Investment Pte Ltd to acquire joint control of UK insurer Rothesay Ho1dCo UK Ltd (notified Sept. 8/deadline Oct. 13/simplified)

-- Japanese healthcare company Konica Minolta 4902.T to acquire U.S. diagnostics company Ambry Genetics (notified Sept. 1/deadline Oct. 6/simplified)

-- Australian investment firm IFM Investors Pty Ltd and Singapore shipping terminal operator PSA International Pte Ltd PSAIN.UL to jointly acquire Turkish terminal operator Mersin (notified Aug. 31/deadline Oct. 5/simplified)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

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 20

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-- 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 25

-- Germany's Infineon Technologies IFXGn.DE and SAIC Motor 600104.SS to set up a joint venture (notified Aug. 21/deadline Sept. 25/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

-- 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)

-- 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)

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-- 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)

OCT 2

-- Private equity firm Bridgepoint to acquire UK property developer Miller Homes (notified Aug. 28/deadline Oct. 2/simplified)

-- Hong Kong's CK Infrastructure Holdings Ltd 1038.HK and Cheung Kong Property Holdings Ltd 1113.HK to indirectly acquire joint control of Luxembourg-based heat and water sub-metering company the ista group (notified Aug. 28/deadline Oct. 2/simplified)

OCT 3

-- German recycling company Remondis REMO.UL to acquireGermany's TSR Recyling (notified Aug. 29/deadline Oct. 3/simplified)

OCT 4

-- Italian baby care products provider Artsana to acquire sole control of baby products retailer Italian peer Prenatal Retail Group, which it now jointly controls with Giochi Preziosi (notified Aug. 30/deadline Oct. 4/simplified)

-- Japanese car parts maker Denso 6902.T to acquire Japanese peer Fujitsu Ten (notified Aug. 30/deadline Oct. 4/simplified)

-- Private equity firm KKR KKR.N and U.S. pharmaceutical retailer Walgreens Boots Alliance WBA.O to acquire indirectly joint control of U.S. pharmaceutical services provider PharMerica PMC.N (notified Aug. 30/deadline Oct. 4/simplified)

-- 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 Oct. 4)

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

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

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-- 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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