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EU mergers and takeovers (June 11)

Published 2018-06-11, 09:53 a/m
Updated 2018-06-11, 10:00 a/m
EU mergers and takeovers (June 11)

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

APPROVALS AND WITHDRAWALS

-- UK infrastructure management company AMP Capital and Spanish airport infrastructure management company Aena Internacional to jointly acquire Luton Airport (approved June 8)

NEW LISTINGS

-- Italian company Snam SRG.MI to acquire Greek gas grid operator DESFA (notified June 8/July 13/simplified)

-- French energy company Total TOTF.PA directo acquire French power utility Direct Energie DIREN.PA (notified June 7/deadline July 12/simplified)

-- Private equity firm Partners Group and the Canada Pension Plan Investment Board to have joint control of U.S.software company GlobalLogic which is now jointly controlled by CPPIB and private equity firm Apax Partners (notified June 7/deadline July 12/simplified)

-- Italian motorway operator Atlantia ATL.MI and German builder ACS Hochtief HOTG.DE to jointly acquire Spanish construction company Abertis Infraestructuras ABE.MC (notified June 1/deadline July 6)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

JUNE 12

-- 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 June 12)

JUNE 15

-- Finnish utility Fortum FORTUM.HE to acquire a controlling stake in German peer Uniper UN01.DE from German energy company E.ON EONGn.DE (notified May 7/deadline June 15)

-- U.S. cable operator Comcast's CMCSA.O to acquire British pay-TV company Sky SKYB.L (notified May 7/deadline June 15)

JUNE 19

-- Japan's Mitsubishi Corp 8058.T and investment company Arjun Infrastructure Partners to acquire joint control of British services company South Staffordshire plc (notified May 14/deadline June 19/simplified)

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-- Oaktree Capital Group and Spanish real estate holding company Bitarte, which is a unit of Spanish bank Banco de Sabadell SABE.MC , to set up a joint venture (notified May 14/deadline June 19/simplified)

JUNE 25

-- Chinese car parts maker Beijing Automotive Group's subsidiary BHAP and Spanish peer Gestamp Automocion GEST.MC to set up a joint venture (notified May 18/deadline June 25/simplified)

-- U.S. private equity firms HPS Investment Partners and Madison Dearborn Partners to acquire joint control of UK risk management services provider Professional Fee Protection Ltd (notified May 18/deadline June 25/simplified)

-- T-Mobile Austria, which is a unit of German telecoms company Deutsche Telekom DTEGn.DE , to acquire UPC Austria, which is a subsidiary of cable operator UPC (notified May 18/deadline June 25)

JUNE 26

-- U.S. asset manager Blackstone (NYSE:BX) BX.N to acquire Spanish gaming company Cirsa (notified May 22/deadline June 26/simplified)

-- German company BASF BASFn.DE to acquire Belgian chemicals company Solvay 's SOLB.BR worldwide polyamide business (notified May 22/deadline June 26)

-- Austrian construction company Strabag STRV.VI and German peer Max Boegl International to set up a joint venture (notified May 22/deadline June 26/simplified)

-- Private equity firm Permira to acquire tech software company Exclusive Group (notified May 22/deadline June 26/simplified)

-- German companies Thyssen Alfa and Max Aicher Recycling to acquire joint control of Noris Metallrecycling (notified May 22/deadline June 26/simplified)

JUNE 27

-- Private equity firm Rhone Capital LLC and founders of swimming pool equipment maker Fluidra to acquire joint control of the merged Fluidra and its peer Zodiac Holdco (notified May 3/deadline extended to June 27 from June 13 after the companies offered concessions)

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-- Private equity firm Permira PERM.UL to acquire Cisco System's CSCO.O video software unit (notified Nat 23/deadline June 27/simplified)

-- U.S. chemicals company Lyondellbasell Industries LYB.N to acquire U.S. peer A. Schulman SHLM.O (notified May 23/deadline June 27)

-- German travel group TUI TUIGn.DE to acquire Spain's Hotelbeds Group's destinations services business (notified May 23/deadline June 27/simplified)

JUNE 28

-- French bank BNP Paribas BNPP.PA to acquire ABN Amro Bank Luxembourg from Dutch bank ABN Amro ABNd.AS (notified May 24/deadline June 28/simplified)

-- Japanese trading company Sumitomo Corp 8053.T and Sumitomo Mitsui Financial Group 8316.T to acquire joint control of Sumitomo Mitsui Finance and Leasing Co (notified May 24/deadline June 28/simplified)

JUNE 29

-- Israeli drugmaker Teva TEVA.TA to acquire sole control of part of U.S. consumer products maker Procter & Gamble's PG.N OTC business in which it currently has a minority stake (notified May 25/deadline June 29)

JULY 2

-- British bank HSBC HSBA.L and U.S. payment technology services provider Global Payments GPN.N to set up a joint venture in Mexico (notified May 28/deadline July 2/simplified)

JULY 4

-- French pension scheme and insurance services provider Malakoff Mederic and Finnish peer Ilmarinen to jointly acquire Luxembourg property developer Alto 1 S.a.r.l (notified May 30/deadline July 4/simplified)

-- British drugmaker Phoenix Group to acquire Romanian pharmaceutical wholesaler Farmexim SA and Romanian pharmacy chain Help Net Farma (notified May 30/deadline July 4/simplified)

-- U.S. private equity firm Francisco Partners to acquire payments technology company Verifone Systems PAY.N (notified May 30/deadline July 4/simplified)

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JULY 5

-- U.S. private equity firms Baring Asia Private Equity Fund and PAI Europe VI Funds to acquire joint control of Luxembourg-based air cargo general sales and service agent WFC International (notified May 31/deadline July 5/simplified)

JULY 6

-- Private equity firm Silver Lake to acquire British company ZPG ZPG.L , the owner of real estate website Zoopla (notified June 1/deadline July 6/simplified)

-- Dutch offshore wind farm companies Otary, Eneco Wind Belgium and Belgian electricity utility Electrabel GSZEL.UL to set up a joint venture (notified June 1/deadline July 6)

JULY 9

-- Copper company KME, which is part of Intek Group, to acquire German peer MKM Mansfelder Kupfer and Messing GmbH (notified June 4/deadline July 9)

JULY 10

-- Chinese private equity firm China Jianyin Investment Limited and investment company Tamar Alliance Health Limited to jointly acquire Australian healthcare company Australia Nature's Care Biotech (notified June 5/deadline July 10/simplified)

-- 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 June 5/deadline July 10/simplified)

JULY 11

-- British investment company Intermediate Capital Group to acquire German fire extinguisher maker Minimax Viking (notified June 6/deadline July 11/simplified)

JULY 12

-- Irish carrier Ryanair RYA.I to acquire Austrian peer Laudamotion (notified June 7/deadline July 12)

-- 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 JuLY 12 after the companies offered concessions)

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JULY 13

-- Siemens SIEGn.DE and Alstom ALSO.PA to merge their railway operations (notified June 8/deadline July 13)

AUG 9

-- German industrial gases group Linde LING.DE to merge with U.S. peer Praxair (NYSE:PX) PX.N (notified Jan. 12/ deadline extended to Aug. 9)

SEPT 4

-- iPhone maker Apple AAPL.O to acquire UK music streaming service Shazam (notified March 14/deadline extended to Sept. 4 from April 23 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.

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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