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EU mergers and takeovers (March 7)

Published 2018-03-07, 08:00 a/m
© Reuters.  EU mergers and takeovers (March 7)

BRUSSELS, March 7 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Australian chemicals maker Nufarm NUF.AX to acquire European crop protection product portfolio from Adama Agricultural Solutions Ltd ADAM.N and Syngenta (approved March6)

-- British broadcaster Channel 4 to acquire joint control of European Broadcaster Exchange, which is jointly owned byGermany's ProSiebenSat.1 Media SE PSMGn.DE , TelevisionFrancaise TFFP.PA , Mediaset S.p.A MS.MI and Spanish TV networks (approved March 6)

-- Canadian pension fund Caisse de Depot et Placement du Quebec to acquire joint control of Hyperion Insurance Group (approved March 6)

NEW LISTINGS

-- PPF Group to acquire sole control of Czech transportationcompany Skoda Transportation and its subsidiaries rail vehiclesresearch company VUKV, production facilities provider JokiauraKakkonen, holding company Satacoto, property services companySkoda Investment and repair services provider Bammer Trade(notified March 6/deadline April 13/simplified)

-- Canadian asset management company Brookfield BAMa.TO toacquire Spanish renewable energy company Saeta SAY.MC (notified March 6/deadline April 13/simplified)

-- Insurer Sedgwick, which is controlled by private equityfirm KKR KKR.N , to acquire insurance services providerCunningham Lindsey (notified March 6/deadline April 13)

-- U.S. private equity firm Global Infrastructure Partnersto acquire Italian train operator Nuovo Trasporto ViaggiatoriS.p.A. (notified March 5/deadline April 12/simplified)

-- Investment funds Prime Credit 3, Oxalis Holding and threeindividuals to acquire joint control of Phoenix AssetManagement, which is now owned by the three individuals(notified March 5/deadline April 12/simplified)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

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MARCH 14

-- Private equity firm Lone Star to acquire Nordic buildingmaterials distributor Stark from British company Ferguson FERG.L (notified Feb. 7/deadline March 14)

MARCH 15

-- Canada's Brookfield Business Partners BBU_u.TO toacquire a controlling stake in plastic packaging maker SchoellerAllibert from an indirect subsidiary of JPMorgan Chase & Co (NYSE:JPM) JPM.N (notified Feb. 8/deadline March 15/simplified)

MARCH 16

-- Steelmaker ArcelorMittal MT.AS to acquire a stake inItalian auto parts and steel products maker Centro ServiziMetalli S.p.A. (notified Feb. 9/deadline March 16/simplified)

-- British turnaround specialist Melrose Industries MRON.L to acquire British engineering company GKN GKN.L (notifiedFeb. 9/deadline March 16/simplified)

MARCH 19

-- Caisse de depot et placement du Quebec and IFM Investorsto take joint control of Mexican toll road operator Conmex(notified Feb. 12/ deadline March 19/ simplified)

MARCH 20

-- Apollo Capital Management to take full control of Germanapparel maker CBR Fashion Holding (notified Jan. 13/ deadlineMarch 20/ simplified)

MARCH 21

-- Goldman Sachs (NYSE:GS) and Centerbridge Partners to acquire jointcontrol of Polish real estate developer Robyg (notified Jan. 14/deadline March 21/ simplified)

-- Swiss Life and CNP Assurances to jointly acquire oilterminal operator Pisto (notified Jan. 14/ deadline March 21/simplified)

-- Spanish telecoms infrastructure provider Axion andSpanish gas transmission operator Enegas to set up a jointventure (notified Jan. 14/ deadline March 21/ simplified)

-- Goldman Sachs GS.N and Centerbridge Partners to acquirejoint control of Polish real estate developer Robyg (notifiedJan. 14/ deadline March 21/ simplified)

MARCH 23

-- Chemicals company Quaker Chemical Corp KWR.N andHinduja Group's Houghton Internatioal HGINL.UL to merge(notified Feb. 2/deadline extended to March 23 from March 9after the companies provided concessions)

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-- Canada Pension Plan Investment Board (CPPIB) and holdingcompany BHL Holdings Ltd to acquire joint control of BGL(Holdings) Ltd which owns several price comparison websites(notified Feb. 16/deadline March 23/simplified)

-- German steel company ELG Haniel and and Spanish peerIberinox 88 SA to set up a joint venture (notified Feb.16/deadline March 23/simplified)

MARCH 27

-- APMH Invest, which is a subsidiary of Danish shipper APMoeller Maersk MAERSKb.CO , and Mitsui & Co 8031.T to set upa joint venture Maersk Product Tankers (notified Feb.20/deadline March 27/simplified)

-- Marubeni Itochu Steel and Sumitomo Corp 8053.T toacquire joint control of Hiroshima Steel Center Ltd, which is aunit of Marubeni Itochu Steel (notified Feb. 20/deadline March27/simplified)

MARCH 28

-- French private equity firm Ardian to acquire resin makerDRT (notified Feb. 21/deadline March 28/simplified)

-- Diamond Transmission Corp, which is a unit of MitsubishiCorp 8058.T and investment vehicle IIO1, and Infrared CapitalPartners to set up a joint venture (notified Feb. 21/deadlineMarch 28/simplified)

APRIL 3

-- Private equity firm Advent International to acquireFrench telephony products distributor Circet Groupe (notifiedFeb. 22/deadline April 3/simplified)

APRIL 4

-- Swiss luxury goods group Richemont CFR.S to acquiree-commerce portal Yoox Net-A-Porter Group YNAP.MI (notifiedFeb. 23/deadline April 4/simplified)

-- Chinese conglomerate Fosun 0656.HK to acquire Germanpension insurer Pro Bav Pensionskasse (notified Feb. 23/deadlineApril 4/simplified)

-- Austrian company Borealis BESGR.UL , Canada's NovaChemicals and French oil and gas major Total TOTF.PA to set upa joint venture (notified Feb. 23/deadline April 4/simplified)

APRIL 5

-- Private equity firm KKE KKR.N to acquire UK car partsmaker Tekfor (notified Feb. 26/deadline April 5/simplified)

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-- U.S. specialty material company Celanese CE.N andprivate equity firm Blackstone (NYSE:BX) BX.N to combine their celluloseacetate tow units under a new joint venture (notified Sept.9/deadline extended to April 5 from March 26)

-- German industrial group Bayer BAYGn.DE to acquire U.S.seeds company Monsanto (NYSE:MON) MON.N (notified June 30/deadlineextended to April 5 from March 12 after Bayer offeredconcessions)

APRIL 6

-- Private equity firm KKR KKR.N to acquire Anglo-Dutchconsumer products group Unilever 's ULVR.L UNc.AS margarineand spreads business (notified Feb. 27/deadline April6/simplified)

APRIL 9

-- U.S. software company IBM (NYSE:IBM) IBM.N and Danish shippingcompany Maersk MAERSKb.CO to set up a joint venture (notifiedFeb. 28/deadline April 9/simplified)

-- Private equity firm Platinum Equity Group to acquire U.S.hotelier Wyndham Worldwide (NYSE:WYN) Corp's WYN.N European vacationrental business (notified Feb. 28/deadline April 9/simplified)

APRIL 10

-- Australian investment bank Macquarie Group MQG.AX toacquire Danish telecoms company TDC TDC.CO (notified March1/deadline April 10/simplified)

APRIL 11

-- Private equity firm Equistone Partners Europe to acquireFrench leisure travel services providers Fram and Karavel(notified March 2/deadline April 11/simplified)

-- French oil and gas major Total TOTF.PA to acquire partof French gas and power group Engie's ENGIE.PA liquifiednatural gas business (notified March 2/deadline April 11)

APRIL 19

-- Luxembourg-based steelmaker ArcelorMittal MT.AS toacquire Italian steel plant (notified Sept. 21/deadline extendedto April 19 from April 4)

JUNE 7

-- South African chemicals company Tronox TROX.N toacquire the titanium dioxide business of Cristal, a subsidiaryof Saudi Arabia's Tasnee (notified Nov. 15/deadline extended toJune 7)

JULY 18

-- German industrial gases group Linde LING.DE to mergewith U.S. peer Praxair (NYSE:PX) PX.N (notified Jan. 12/ deadlineextended to July 18 from July 4)

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GUIDE TO EU MERGER PROCESS

DEADLINES:

The European Commission has 25 working days after a deal isfiled for a first-stage review. It may extend that by 10 workingdays to 35 working days, to consider either a company's proposedremedies or an EU member state's request to handle the case.

Most mergers win approval but occasionally the Commissionopens a detailed second-stage investigation for up to 90additional working days, which it may extend to 105 workingdays.

SIMPLIFIED:

Under the simplified procedure, the Commission announces theclearance of uncontroversial first-stage mergers without givingany reason for its decision. Cases may be reclassified asnon-simplified - that is, ordinary first-stage reviews - untilthey are approved.

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