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EU mergers and takeovers (Nov 18)

Published 2015-11-18, 06:57 a/m
© Reuters.  EU mergers and takeovers (Nov 18)
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BRUSSELS, Nov 18 (Reuters) - The following are mergers under
review by the European Commission and a brief guide to the EU
merger process:

APPROVALS AND WITHDRAWALS
-- China's HNA Group to acquire Swiss air cargo
handler Swissport International

NEW LISTINGS
-- Canadian car parts supplier Magna International MG.TO
to acquire German automotive transmission systems maker Getrag
-- Finnish stainless steel maker Outokumpu to acquire shares
in Germany's Hernandez Edelstahl
-- EQT Services to acquire 75 percent of Top-Toy, a toy
retailer in the Nordic Countries and Germany


EXTENSIONS AND OTHER CHANGES

FIRST-STAGE REVIEWS BY DEADLINE

NOV 23
-- U.S. chipmaker Avago Technologies AVGO.O to acquire
U.S. peer Broadcom Corp BRCM.O (notified Oct. 2/deadline
extended to Nov. 23 from Nov. 9 after Avago offered concessions)
-- Finland's Fortum FUM1V.HE and Lithuanian state-owned
energy group Lietuvos Energija to set up a joint venture

NOV 26
-- Bain Capital Investors to acquire car parts distributor
Autodistribution Group

NOV 27
-- Panasonic Healthcare, which is backed by private equity
firm KKR KKR.N , and Japan's Panasonic Corp 6752.T , to
acquire Bayer's BAYGn.DE diabetes care business

NOV 30
-- Austrian insurer Generali (MI:GASI) Holding Vienna's Generali
Pensionskasse AG subsidiary and Zürich
Versicherungs-Aktiengesellschaft's BONUS Pensionskassen unit to
merge (notified Oct. 23/deadline Nov. 30/simplified)
-- Canadian car parts supplier Magna International MG.TO
to acquire car parts maker Stadco Automotive Ltd (notified Oct.
23/deadline Nov. 30/simplified)
-- The Carlyle Group CG.O to acquire PA Consulting
(notified Oct. 23/deadline Nov. 30/simplified)

DEC 1
-- Swiss chemicals company Ineos to acquire UK North Sea gas
fields from the DEA Group (notified Oct. 26/deadline Dec.
1/simplified)

DEC 2
-- Belgian chemical group Solvay SOLB.BR to acquire U.S.
peer Cytec CYT.N (notified Oct. 13/deadline Dec. 2)

DEC 3
-- French supermarket chain Carrefour CARR.PA to acquire
French electronic products retailer Rue du Commerce (notified
Oct. 28/deadline Dec. 3/simplified)

DEC 7
-- U.S. fertiliser maker CF Industries Holdings (N:CF) CF.N to
acquire OCI NV's OCI.AS North American and European plants
(notified Oct. 30/deadline Dec. 7)
-- French investment company Ardian France to acquire food
ingredient maker Solina (notified Oct. 30/deadline Dec.
7/simplified)
-- Enel Green Power ENEI.MI and asset management company
F2I to set up a joint venture (notified Oct. 30/deadline Dec. 7)
-- German carmaker BMW and heating and refrigeration systems
maker Viessmann to set up Digital Energy Solutions GmbH
(notified Oct. 30/deadline Dec. 7/simplified)
-- Investment firm Oaktree Capital Group OAK.N , Swedish
builder Skanska SKAb.ST and hotel operator Starwood Hotels &
Resorts Worldwide HOT.N to acquire Polish hotel operator Hotel
Atrium (notified Oct. 30/deadline Dec. 7/simplified)

DEC 8
-- Swedish state utility Vattenfall and GDF Suez (PA:ENGIE) Energie
Deutschland AG to to set up a consortium (notified Nov.
3/deadline Dec. 8)
-- U.S. conglomerate Koch Industries KCHIN.UL and BDT
Capital Partners to acquire joint control of U.S. lighting maker
Truck-Lite (notified Nov. 3/deadline Dec. 8/simplified)

DEC 9
-- Austrian home improvement chain OBI OBI.UL to acquire
some retail sites from Austrian peer BauMax (notified Nov.
4/deadline Dec. 9)

DEC 10
-- German dairy producer DMK Deutsches Milchkontor GmbH to
acquire Dutch cheese producer DOC Kaas B.V. (notified Nov.
5/deadline Dec. 10)
-- Spanish bank Banco Santander SAN.MC and private equity
firm Pai Partners to jointly control Grupo Konectanet (notified
Nov. 5/deadline Dec. 10/simplified)

DEC 11
-- Private equity firm KKR KKR.N to acquire Swiss-based
vending machine operator Selecta (notified Nov. 6/deadline Dec.
11/simplified)
-- Private equity firm LetterOne Holdings to acquire German
energy company E.ON's EONGn.DE oil and gas assets in the
Norwegian North Sea (notified Nov. 6/deadline Dec.
11/simplified)
-- Trading company Gunvor Group to acquire refinery operator
Kuwait Petroleum Europoort (notified Nov. 6/deadline Dec.
11/simplified)
-- Swiss Re SRENH.VX to acquire Guardian Financial
Services (notified Nov. 6/deadline Dec. 11/simplified)
-- UK insurer Aviva AV.L and the Public Sector Pension
Investment Board to set up a property joint venture (notified
Nov. 6/deadline Dec. 11/simplified)

DEC 12
-- Canadian auto parts maker Linamar LNR.TO to acquire
French peer Montupet MNTP.PA (notified Nov. 6/deadline Dec.
12)

DEC 14
-- French bank Caisse des Depots, Abu Dhabi-based investment
and development firm Mubadala Development Co MUDEV.UL and
Vivalto Bel to jointly acquire French private health club
operator Group Vivalto Sante (notified Nov. 9/deadline Dec. 14)

DEC 16
-- Private equity firm Vista Equity Partners to acquire
technology company Solera Holdings Inc SLH.N (notified Nov.
11/deadline Dec. 16)
-- Commodity trader Trafigura to acquire de facto sole
control of Belgian zinc producer Nyrstar NYR.BR (notified Nov.
11/Dec. 16)

DEC 17
Germany's Bertelman BTGGg.F plans to buy remaining 25.1
percent stake in printing group Privonis from Axel Springer
SPRGn.DE . (notified Nov. 12/ deadline Dec. 17)
France's Michelin MICP.PA and Fives FLINSF.UL plan joint
venture in metal 3D printing (notified Nov. 12/ deadline Dec.
17/simplified)
The Ontario Municipal Employees Retirement System (Omers) to
buy out environment and social issues consultant ERM with the
Alberta Investment Management Corp as a co-investor (notified
Nov. 12/ deadline Dec. 17/simplified)

DEC 18
AXA AXAF.PA and Danish public pension fund ATP plan to
acquire control of two hotels jointly with Club Quarters
(notified Nov. 13/ deadline Dec. 18/simplified)

DEC 23
-- U.S. drinks can maker Ball Corp (N:BLL) BLL.N to acquire
British rival Rexam Plc REX.L (notified June 15/deadline
extended for the second time to Dec. 23 from Dec. 9)

JAN 13
-- U.S. packages delivery company FedEx (N:FDX) FDX.N to acquire
Dutch peer TNT TNTE.AS (notified July /deadline extended to
Jan. 13 from Dec. 8 after the companies asked for more time)

JAN 18
-- South African paper maker Mondi MNDJ.J MNDI.L to
acquire some assets from portfolio company Walki (notified July
29/deadline extended to Jan. 18 from Sept. 2 after the European
Commission opened an in-depth investigation)

MARCH 2
-- U.S. office supplier Staples SPLS.O to acquire U.S.
rival Office Depot ODP.O (notified Aug. 21/deadline extended
for the second time to March 2 from Feb. 10 after the companies
asked for more time)

MARCH 17
-- Cable telecoms company Liberty Global's LBTYA.O Belgian
subsidiary Telenet TNET.BR to buy mobile network operator Base
from Dutch group KPN KPN.AS (notified Aug. 17/deadline
extended to March 17 from March 3)

APRIL 18
-- Hutchison Whampoa to acquire Telefonica 's
TEF.MC O2 UK subsidiary (notified Sept. 11/deadline extended
for the fourth time to April 18 from March 16 after Hutchison
asked for more time)

SUSPENDED
-- Oilfield services provider Halliburton (N:HAL) HAL.N to buy
rival Baker Hughes (N:BHI) BHI.N in a stock and cash transaction
(notified July 23/deadline suspended after the companies
provided insufficient information)
-- SOCAR, Azerbaijan's state energy company, to buy stakes
in Greek natural gas grid operator DESFA from Greek natural gas
utility DEPA (notified Oct. 1/deadline suspended on Jan. 21)

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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