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EU mergers and takeovers (Nov 19)

Published 2018-11-19, 08:36 a/m
Updated 2018-11-19, 08:40 a/m
© Reuters.  EU mergers and takeovers (Nov 19)

BRUSSELS, Nov 19 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- German machinery and truck trading companies Fricke Holding and Jungheinrich JUNG_p.DE to launch a joint venture in wholesale truck spare parts (approved Nov. 16)

-- Energy service provider GETEC Warme & Effizienz, managed by EQT Fund Management, to acquire 50.1 percent of heat, electricity, telecommunications and electromobility services company PionierWerk Hanau (approved Nov. 16)

-- Canadian Brookfield Asset Management BAMa.TO to acquire through purchase of shares sole control of French real estate companies M Finance Capital and ECLA Paris Massy-Palaiseau Companies (approved Nov. 16)

-- Steelmaker ArcelorMittal MT.AS and Japan's Nippon Steel & Sumitomo Metal Corp 5401.T to acquire Indian peer Essar Steel India (approved Nov. 16)

NEW LISTINGS

-- Investment manager CVC Capital Partners and financial company Mitsubishi UFJ Financial Group 8306.T to acquire title loan provider for the underbanked segment of Thai consumers, Ngern Tid Lor Company Limited together with its direct and indirect subsidiaries (notified Nov. 16/deadline Dec. 21/simplified)

EXTENSIONS AND OTHER CHANGES

-- German building materials company Knauf International to acquire Armstrong World Industries' AWI.N modular suspended ceilings business in the EMEA and APAC region (notified Oct. 17/deadline extended to Dec. 7 from Nov. 23 after commitments submitted)

FIRST-STAGE REVIEWS BY DEADLINE

NOV 20

-- Japanese Takeda Pharmaceutical Company Limited 4502.T to acquire Jersey biotechnology company Shire SHP.L (notified Sept. 28/deadline extended from Nov. 6 to Nov. 20)

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NOV 22

-- Spanish automotive industry logistics services company Berge Automotive Logistics and Spanish logistic services company GEFCO Espana to acquire joint control of a newly-created Spanish special purpose vehicle to manage the finished vehicle logistic businesses and assets of both companies in Spain (notified Oct. 16/deadline Nov. 22)

NOV 23

-- International cable company Liberty Global LBTYA.O and its Belgian subsidiary, Telenet to acquire Belgian publisher De Vijver Media (notified Oct. 3/deadline extended to Nov. 23 from Nov. 9 after the Belgian competition authority asked to take over the case)

NOV 27

-- U.S. battery maker Energizer Holdings ENR.N to acquire Spectrum Brands' SPB.N battery and portable lighting business (notified Oct. 19/deadline Nov. 27)

NOV 28

-- Electronic and motor manufacturing company Nidec 6594.T to acquire sole control of U.S. white goods maker Whirlpool (NYSE:WHR) Corp's WHR.N compressor subsidiary Embraco (notified Oct. 8/deadline extended to Nov. 28 from Nov. 14 after Nidec offered commitments)

NOV 29

-- Steel company Aperam Alloys Germany, subsidiary of Aperam, to acquire Netherlands producer of materials from nickel and nickel alloy VDM Metals Holding (notified Oct. 23/deadline Nov. 29)

-- Canadian Public Sector Pension Investment Board, Canadian Brookfield Asset Management BAMa.TO , Canadian QuadReal Property Group Limited Partnership and BREP Brazil Private Limited to acquire joint control of Brookfield Brazil Retail Fundo de Investimentos em Participacoes Multiestrategia (notified Oct. 23/deadline Nov. 29/simplified)

-- Brazilian pulp and paper producer Suzano Papel e Celulose SUZB3.SA to acquire Brazilian peer Fibria Celulose FIBR3.SA (notified Oct. 9/deadline extended to Nov. 29 from Nov. 15 after commitments submitted)

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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)

-- U.S. food, snack and beverage corporation PepsiCo PEP.O to acquire all outstanding shares of Israeli-based manufacturing company SodaStream International SODA.TA (notified Oct. 24/deadline Nov. 30)

DEC 3

-- Banking, financial and insurance company Banca Generali BGN.MI and Danish investment bank Saxo Bank to set up a joint venture in Italian online trading and investment services (notified Oct. 25/deadline Dec. 3/simplified)

DEC 4

-- U.S. asset manager Blackstone (NYSE:BX) Group BX.N and UK property management company Tele-Finance Holdings Limited to acquire indirect joint control of certain business assets from UK railway infrastructure manager Network Rail Infrastructure Limited NETRHI.UL (notified Oct. 26/deadline Dec. 4/simplified)

-- Investment fund manager CVC Capital Partners to acquire pharmaceutical company Recordati (notified Oct. 26/deadline Dec. 4)

-- Dutch DP World Investments, part of United Arab Emirates global marine terminal operator DP World Group, to acquire Danish company Unifeeder, a portfolio company of Jersey private equity house Nordic Capital (notified Oct. 26/deadline Dec. 04)

DEC 5

-- U.S. investment management firm Centerbridge Partners to acquire sole control over UK-based General Healthcare Group (GHG) through the indirect acquisition of shares and the amendment of governance arrangements of GHG, making Hospital Topco Limited the parent company of GHG (notified Oct. 29/deadline Dec. 5/simplified)

DEC 7

-- IFM Investors to acquire joint control of Trafigura TRAFGF.UL subsidiary, Luxembourg owner and operator of marine terminal facilities, Simba Holdings (notified Oct. 31/deadline Dec. 7/simplified)

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-- Equinor Refining Norway to acquire Danish energy trading company Danske Commodities (notified Oct. 31/deadline Dec 7/simplified)

DEC 10

-- Swiss trading and purchasing company REHAU Verwaltungszentrale to take over MB Barter & Trading and its chemical trading subsidiaries (notified Nov. 5/deadline Dec. 10/simplified)

-- French tire manufacturer and distributor Compagnie Generale des Etablissements Michelin MICP.PA to acquire sole control of Canadian tire and track manufacturer and distributor Camso Inc. and its subsidiaries (notified Nov. 5/deadline Dec. 10)

-- Insurance provider Generali CEE, subsidiary of Assicurazioni Generali GASI.MI , to acquire direct sole control over insurance and asset management company in Slovenia and Croatia, Adriatic Slovenica, Zavarovalna druzba and indirect control over its subsidiaries (notified Nov. 5/deadline Dec. 10)

-- ECO-INVESTMENT, Holzindustrie Maresch and Mondi (LON:MNDI) Steti to launch a joint venture to construct and operate a sawmill in the Czech Republic (notified Nov. 5/deadline Dec. 10/simplified)

-- The Canada Pension Plan Investment Board, Ontario Teachers' Pension Plan Board and Mexico asset portfolio manager Promotora del Desarrollo de America Latina to jointly acquire Mexico toll road concession owner Concesionaria Autopista Guadalajara-Tepic (notified Nov. 5/deadline Dec. 10/simplified)

DEC 11

-- Chemicals company Quaker Chemical Corp KWR.N and Hinduja Group's Houghton Internatioal HGINL.UL to merge (notified Oct. 19/deadline extended from Nov. 27 to Dec. 11/concessions offered March 2)

-- UK mobile telephony provider Vodafone VOD.L to acquire U.S. Liberty Global's LBTYA.O telecommunications business in the Czech Republic, Germany, Hungary and Romania (notified Oct. 19/deadline Nov. 27/deadline extended to Dec. 11 after the German cartel office asked to review part of the deal)

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-- German chemicals company BASF SE BASFn.DE and Solenis to combine their paper and water chemicals businesses, which will then be 49 percent owned by BASF and the rest by U.S. private equity investment firm Clayton, Dubilier & Rice (CD&R) (notified Nov. 6/deadline Dec. 11)

DEC 12

-- U.S. pizza restaurant operator Pizza Hut to integrate with Italian peer TelePizza TPZ.MC (notified Nov. 7/deadline Dec. 12)

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 Dec. 13)

-- Chinese electronic manufacturer Haier Group 1169.HK to acquire Italian domestic appliance manufacturer Candy S.p.A. (notified Nov. 8/deadline Dec. 13)

-- French fund Meridiam Transition and French state-owned investment fund Caisse des Depots et Consignations CDCEC.UL to acquire joint control of a holding company with a biofuel project and another in biomass (notified Nov. 8/deadline Dec. 13/simplified)

-- Portuguese CERF PL Resort, Unipessoal, Lda., controlled by Carlyle Europe Realty Fund, to acquire indrect ownership of Portuguese Penha Longa Resort which is managed by U.S. hotel chain Marriott International's MAR.O affiliate Luxury Hotels International Management Company (notified Nov. 8/deadline Dec. 13/simplified)

DEC 14

-- U.S. global supplier of driveline, sealing and thermal-management products Dana Incorporated DAN.N to acquire Oerlikon's drive systems business through the acquisition of GrazianoFairfield AG, a provider of gear, drive and shifting solutions for mobile vehicles and industrial equipment (notified Nov. 9/deadline Dec. 14/simplified)

-- European energy group MET Renewables to acquire joint control of Serbian wind farm project holder NIS Energowind together with the current shareholder, O Zone, a subsidiary of Serbian oil and energy company NIS (notified Nov. 9/deadline Dec. 14/simplified)

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-- New York sustainable waste and energy solutions business Covanta Holding Corporation CVA.N and specialist in green infrastructure Green Investment Group Limited to acquire a stake in wholly-owned subsidiary of Brockwell Energy Limited, Earls Gate Energy Limited in Scotland, through a jointly controlled investment vehicle (notified Nov. 9/deadline Dec. 14/simplified)

DEC 17

-- Japanese consumer electronics company Sharp Corporation 6753.T to acquire TV manufacturer and distributor Skytec UMC ltd (notified Nov. 12/deadline Dec. 17/simplified)

DEC 18

-- ENGIE ENGIE.PA , Prédica Prévoyance Dialogue du Crédit Agricole and Omnes Capital to acquire joint control, through FEIH, of several wind farms owned by ENGIE Green France SAS and ENGIE Green Holding SAS, wholly owned subsidiaries of ENGIE (notified Nov. 13/deadline Dec. 18/simplified)

-- German energy company E.ON EONGn.DE , via its subsidiary E.ON Drive Infrastructure, and Finnish energy company Helen Oy to acquire joint control over Finnish e-mobility software company Liikennevirta Oy (notified Nov. 13/deadline Dec. 18/simplified)

-- Canadian holding company Fairfax Financial Holdings Limited FFH.TO to acquire sole control of insurance distributor in Greece and Romania, Eurolife ERB Insurance Group Holdings (notified Nov. 13/deadline Dec. 18/simplified)

DEC 19

-- Creation of a European joint venture between Santander Consumer Bank AG SAN.MC and Hyundai Capital Services 005380.KS to offer loans and leases for automobiles (notified Nov. 14/deadline Dec. 19/simplified)

JAN 8

-- French aerospace and defence group Thales TCFP.PA to acquire Franco-Dutch chipmaker Gemalto GTO.AS (notified June 18/deadline Jan. 8)

JAN 17

-- German copper products maker Wieland-Werke to acquire German copper smelter Aurubis' NAFG.DE flat rolled products unit Products Schwermetall (notified June 13/deadline Jan. 17)

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JAN 25

-- German company BASF BASFn.DE to acquire Belgian chemicals company Solvay's SOLB.BR worldwide polyamide business (notified May 22/deadline Jan. 25/cocnessions offered on Oct. 15)

JAN 28

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

MAR 26

--- Tata Steel Limited TISC.NS and ThyssenKrupp AG TKAG.DE to create a joint venture which will combine their European flat carbon steel businesses and the steel mill services business of the ThyssenKrupp (Germany's Thyssenkrupp TKAG.DE and India's Tata Steel TISC.NS to set up a steel joint venture (notified Sept. 25/deadline extended to March 26 from March 19 after the companies asked for more time)

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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