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EU mergers and takeovers (Sept 17)

Published 17/09/2018, 11:52 pm
© Reuters.  EU mergers and takeovers (Sept 17)

BRUSSELS, Sept 17 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Kuwait's sovereign wealth fund Kuwait Investment Authority to acquire oil and gas pipeline firm North Sea Midstream Partners from private equity firm ArcLight Capital (approved Sept. 14)

-- Private equity firm KKR KKR.N to acquire U.S. business software company BMC Software (approved Sept. 14)

NEW LISTINGS

-- Italian and U.S.-based private equity firms the Carlyle Group CG.O and Investindustrial to acquire furniture maker B&B Italia and lighting companies Flos and Louis Poulsen as part of a new venture to create high-end interior design group, Design Holding (notified Sept. 14/deadline Oct. 19/simplified)

-- German industrial gas company Messer Group and private equity group CVC CVC.AX to acquire certain assets from German chemical company Linde Group(notified Sept. 14/deadline Oct. 19/simplified)

-- U.S. software company Microsoft Corp MSFT.O to buy privately held coding website GitHub Inc (notified Sept. 14/deadline Oct. 19)

-- Walt Disney (NYSE:DIS) Co DIS.N to buy the bulk of Twenty-First Century Fox Inc's FOXA.O film and television assets (notified Sept. 14/deadline Oct. 19)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

SEPT 19

-- French carmaker PGA Motors and Fiber to acquire joint control of auto dealer and car parts distributor Bernard Participations (notified July 31/deadline extended to Sept. 19 from Sept. 5 after the French competition authority asked to take over the case)

SEPT 21

-- Norwegian aluminium maker Norsk Hydro NHY.OL to acquire some of Anglo-Australian mining company Rio Tinto's RIO.L RIO.AX aluminium production assets (notified Aug. 17/deadline Sept. 21)

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SEPT 25

-- German alphalt maker Deutsche Asphalt, which is a subsidiary of Austrian construction company Strabag STRV.VI , and German road construction company Bunte to set up a joint venture (notified Aug. 21/deadline Sept. 25/simplified)

SEPT 27

-- U.S. planemaker Boeing (NYSE:BA) BA.N and French aerospace company Safran SAF.PA to set up a joint venture to make and service aircraft auxiliary power units (notified Aug. 23/deadline Sept. 27)

SEPT 28

-- Private equity firm KKR KKR.N and French telecoms provider Altice NUMCF.PK to acquire joint control of Altice's French subsidiary SFR Filiale (notified Aug. 24/deadline Sept. 28/simplified)

-- U.S. management company Abry Partners to acquire Norwegian A2P messaging company Link Mobility ASA LINK.OL (notified Aug. 24/deadline Sept. 28/simplified)

OCT 1

-- Canada's Public Sector Pension Investment Board and Canadian institutional investor British Columbia Investment Management Corporation (BCI) to acquire joint control of Canadian forest product company Island Timberlands (notified Aug. 27/deadline Oct. 1/simplified)

-- Private equity firm EQT Fund Management to acquire Luxembourg specialty chemicals and food ingredients distributor Azelis AZELI.UL (notified Aug. 27/deadline Oct. 1/simplified)

OCT 3

-- U.S. plane maker Boeing BA.N to acquire aerospace parts company KLX KLXI.O (notified Aug. 29/deadline Oct. 3)

-- Goldman Sachs (NYSE:GS) GS.N and Japanese financial services group Orix Corp 8591.T to acquire shares in Japanese pharmaceutical company ILS Inc

OCT 4

-- Private equity fund Lone Star to buy roof tiles business of France's Imerys IMTP.PA (notified Aug. 30/deadline Oct. 4/simplified)

-- German project group Steag and German engineering company Siemens SIEGn.DE take joint control of power plan in Herne, western Germany (notified Aug. 30/deadline Oct. 4)

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-- Germany's Vossloh and Austria's Rhomberg Sersa Rail Holding form joint venture in railway technology (notified Aug. 30/deadline Oct. 4/simplified)

OCT 5

-- Boeing BA.N and automotive seat maker Adient ADNT.N to form joint venture to make airline seats (notified Aug. 31/deadline Oct. 5)

-- Japanese beverages and pharmaceutical group Kirin Holdings 2503.T and Japanese trading house Mitsui 8031.T to acquire joint control of nutritional supplements company Thorne Holding Corp (notified Aug. 31/deadline Oct. 5/simplified)

OCT 8

-- Swedish mobile operato Tele2 TEL2b.ST to buy Swedish cable TV company Com Hem (notified Sept. 3/deadline Oct. 8)

-- Chinese conglomerate CITIC Group CITIC.UL to require a majority stake in Czech holding group European Bridge Travel, which controls travel services companies (notified Sept. 3/deadline Oct. 8/simplified)

OCT 9

-- Alphabet's GOOGL.O Verily forms a joint venture with ResMed RMD.N to study sleep apnea (notified Sept. 4/deadline Oct. 9/simplified)

-- Canadian auto parts maker Magna MG.TO to acquire Italian lighting products maker Olsa (notified Sept. 4/deadline Oct. 9/simplified)

OCT 10

-- U.S. investment firm KKR KKR.N to acquire joint control over Singapore property website Property Guru (notified Sept. 5/deadline Oct. 10/simplified)

OCT 11

-- Private investment firm SK Capital Partners to buy U.S. specialty chemical company Schenectady International (notified Sept. 6/deadline Oct. 11)

OCT 12

-- Business process services company Synnex Corp SNX.N to buy call center operator Convergys Corp CVG.N (notified Sept. 7/deadline Oct. 12/simplified)

-- Buy-out firm Cinven, through its controlled portfolio company Viridium Holding, to acquire sole control of insurance company Generali (MI:GASI) Lebensversicherung (notified Sept. 7/deadline Oct. 12/simplified)

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-- German gaming and gambling company Gauselmann GAUS.UL to take a 33 percent stake and joint control of casino operator Spielbank Mainz (notified Sept. 7/ deadline Oct. 12/simplified)

-- Investment company Bregal to buy travel firm Trendtours Touristik (notified Sept. 7/deadline Oct. 12/simplified)

OCT 15

-- U.S. pet food maker Mars Petcare to buy European veterinary business Anicura (notified Sept. 10/deadline Oct. 15)

-- Qatar Petroleum QATPE.UL to acquire a 30 percent stake in two of Exxon (NYSE:XOM) Mobil's XOM.N affiliates in Argentina (notified Sept. 10/deadline Oct. 15/simplified)

OCT 16

-- French equity firm PAI Partners to buy board game publisher Asmodee (notified Sept. 11/deadline Oct. 16/simplified)

-- Japanese industrial gas supplier Taiyo Nippon Sanso 4091.T to buy European business of industrial gas company Praxair (NYSE:PX) PX.N (notified Sept. 11/deadline Oct. 16)

OCT 17

-- Semiconductor company Broadcom AVGO.O to acquire technology company CA CA.O (notified Sept. 12/deadline Oct. 17/simplified)

-- 3i (LON:III) Infrastructure 3IN.L and Danish pension company ATP to invest in telecoms operator Tampnet (notitied Sept. 12/deadline Oct. 17/simplified)

-- Private equity company the Carlyle Group CG.O to acquire interest in U.S. broadcast services company NEP Group NEPG.N (notified Sept. 12/deadline Oct. 17/simplified)

OCT 18

-- Morgan Stanley (NYSE:MS) Infrastructure MS.N to buy German rail logistics group VTG VT9G.DE (notified Sept. 13/deadline Oct. 18/simplified)

NOV 30

-- Deutsche Telekom DTEGn.DE to acquire Swedish peer Tele2's TEL2b.ST Dutch unit and merge it with its Dutch business T-Mobile Nederland (notified May 2/deadline Nov. 30 after deadline suspension ended Aug. 6)

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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 extended to Dec. 13 from Nov. 29 after the companies asked for more)

DEC 18

-- German company BASF BASFn.DE to acquire Belgian chemicals company Solvay's SOLB.BR worldwide polyamide business (notified May 22/deadline Dec. 18)

JAN 3

-- German copper products maker Wieland-Werke to acquire German copper smelter Aurubis' NAFG.DE flat rolled products unit Products Schwermetall (notified June 13/deadline extended to Jan. 3 from Dec. 10 after the companies asked for more time)

JAN 8

-- French aerospace and defence group Thales TCFP.PA to acquire Franco-Dutch chipmaker Gemalto GTO.AS (notified June 18/deadline extended to Jan. 8 from Nov. 29 from July 23 after the companies asked for more time)

JAN 28

-- Siemens SIEGn.DE and Alstom ALSO.PA to merge their railway operations (notified June 8/deadline set at Jan. 28 on Sept. 7)

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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