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EU mergers and takeovers (June 14)

Published 2017-06-14, 09:22 a/m
© Reuters.  EU mergers and takeovers (June 14)
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BRUSSELS, June 14 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

None

NEW LISTINGS

-- Canada Pension Plan Investment Board (CPPIB) and British Telecom Pension Scheme to jointly acquire Milton Park business park (notified June 12/deadline July 17/simplified)

-- Spanish bank Santander SAN.MC to acquire control of asset management company SAM Investment Holdings Ltd (notified June 6/deadline July 11/simplified)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

JUNE 21

-- French minerals company Imerys IMTP.PA to acquire French calcium aluminate cements maker Kerneos (notified May 12/deadline June 21)

JUNE 22

-- German chemicals company Evonik Industries EVKn.DE to acquire U.S. company J.M. Huber Corp's CPKEL.UL silica business (notified April 27/deadline extended to June 22 from June 8 after Evonik offered concessions)

-- German online fashion retailer Zalando ZALG.DE and fashion company Bestseller United to set up a joint venture (notified May 15/deadline June 22/simplified)

JUNE 26

-- Japanese telecommunications and tech investment group SoftBank 9984.T , India's Bharti and Taiwanese company Hon Hai 2317.TW to jointly acquire Indian renewable energy company SB Energy Holdings Ltd which is now solely solely owned by SoftBank (notified May 17/deadline June 26/simplified)

-- Private equity firms Advent International and Bain Capital Investors to jointly acquire payment services company RatePAY (notified May 17/deadline June 26/simplified)

-- Private equity firm Oaktree to acquire German nursing care provider Vitanas P&W (notified May 17/deadline June 26/simplified)

JUNE 27

-- Chrysaor Holdings Ltd, which is indirectly controlled by investment company Harbour Energy, to acquire some of Shell's RDSa.L offshore assets (notified May 18/deadline June 27/simplified)

-- Chinese conglomerate HNA Holding Group Co 0521.HK to acquire Singapore-listed logistics company CWT CWTD.SI (notified May 18/deadline June 27/simplified)

-- Buyout firm Blackstone (NYSE:BX) BX.N and Canada Pension Plan Investment Board (CPPIB) to acquire indirect joint control of U.S. educational content provider Ascend Learning (notified May 18/deadline June 27/simplified)

JUNE 28

-- Australian investment bank Macquarie Group MQG.AX to acquire Cargill Inc's CARG.UL petroleum business (notified May 19/deadline June 28/simplified)

-- Japanese telecoms and technology group SoftBank Group 9984.T to acquire U.S. private equity company Fortress Investment Group FIG.N (notified May 19/deadline June 28/simplified)

-- Japanese shippers Nippon Yusen Kabushiki Kaisha 9101.T , Mitsui OSK Lines 9104.T and Kawasaki Kisen Kaisha 9107.T to merge their container units (notified May 19/deadline June 28)

-- French oil services group TechnipFMC FTI.N , German industrial gases group Linde AG LING.DE and Russia's Research and Design Institute on Gas Processing (JSC NIPIgaspererabotka) to set up a joint venture (notified May 19/deadline June 28/simplified)

JUNE 29

-- Austrian refractories materials maker RHI RHIV.VI to acquire a controlling stake in Brazilian peer Magnesita Refratarios MAGG3.SA (notified May 5/deadline extended to June 29 from June 15 after RHI offered concessions)

JULY 3

-- Petrochemicals firm Ineos to acquire Danish utility and offshore wind farm developer Dong Energy's DENERG.CO oil and gas business (notified May 24/deadline July 3/simplified)

JULY 5

-- French carmaker PSA Group PEUP.PA to acquire General Motors's GM.N European arm Opel (notified May 30/deadline July 5)

-- French banks BNP Paribas BNPP.PA , Caisse des Depots et Consignations, Societe Generale SOGN.PA , stock exchange Euronext ENX.PA , Euroclear ECLERK.UL , S2IEM (Societe d'Investissements en Infrastructures Europeennes de Marches) and CACEIS Investor Services to set up a joint venture (notified May 30/deadline July 5/simplified)

-- French construction and concessions company Vinci SGEF.PA and Swiss airport retailer Dufry LFP DUFN.S to jointly acquire Portuguese retail operator Lojas Francas de Portugal (notified May 30/deadline July 5)

JULY 6

-- Investment bank Goldman Sachs (NYSE:GS) GS.N to acquire Dutch chemical products distributor Caldic (notified May 31/deadline July 6/simplified)

JULY 7

-- Finnish industrial engine maker Wartsila WRT1V.HE and China State Shipbuilding Corp (CSSC) to set up a joint venture (notified June 1/deadline July 7/simplified)

-- German brake systems maker Knorr-Bremse STELLG.UL to acquire Swedish peer Haldex HLDX.ST (notified June 1/deadline July 7)

-- Private equity firm Apax Partners to acquire cleaning products maker Safetykleen from Warburg Pincus (notified June 1/deadline July 7/simplified)

JULY 10

-- Robert Tonnies and Clements Tonnies to acquire joint control of processed meat company Zur Muehlen Group (notified June 2/deadline July 10/simplified)

-- Japan's Hitachi Group 6501.T and Japanese carmaker Honda 7267.T to set up a joint venture (notified June 2/deadline July 10/simplified)

JULY 11

-- French power company EDF EDF.PA to acquire British engineering company Imtech (notified June 6/deadline July 11/simplified)

-- French bank BNP Paribas BNPP.PA to acquire sole control of German credit provider Commerz Finanz, which is a joint venture between BNP and German lender Commerzbank CBKG.DE (notified June 6/deadline July 11/simplified)

-- Canada Pension Plan Investment Board (CPPIB) to acquire a minority stake and joint control of British school operator Nord Anglia Education which is now solely controlled by private equity firm BPEA (notified June 6/deadline July 11/simplified)

-- Private equity firms Bain Capital Investors and Cinven Capital Management CINV.UL to acquire joint control of German generics drugmaker Stada Arzneimittel AG STAGn.DE (notified June 2/deadline July 10/simplified)

-- Swiss engineering group ABB ABBN.S to acquire Austrian maker of production control systems Bernecker & Rainer (B&R) (notified June 6/deadline July 11/simplified)

JULY 12

-- Dutch insurer NN Group NN.AS to acquire the Munich-based Holiday Inn hotel (notified June 7/deadline July 12/simplified)

-- German investment firm Genui GmbH and private equity firm Summit Partners to acquire negative control of Germany's Market Logic Software (notified June 7/deadline July 12/simplified)

-- U.S. chemicals company DuPont (NYSE:DD) DD.N to acquire U.S. pesticide maker FMC's FMC.N health and nutrition business (notified June 7/deadline July 12)

JULY 13

-- Austrian rail maintenance services company OBB Technische Services-GmbH (OBB) to acquire 60 percent of Austrian peer Stadler Linz from Switzerland's Stadler Rail (notified June 8/deadline July 13/simplified)

-- U.S. pesticide maker FMC FMC.N to acquire U.S. chemicals company DuPont's DD.N crop protection business (notified June 8/deadline July 13)

JULY 14

-- U.S. engine maker Cummins (NYSE:CMI) CMI.N and U.S. industrial conglomerate Eaton Corp ETN.N to set up a joint venture for automated transmissions for heavy and medium duty commercial vehicles (notified June 9/deadline July 14/simplified)

JULY 17

-- U.S. travel search site The Priceline Group PCLN.O to acquire U.S. peer Momondo Group (notified June 12/deadline July 17)

-- U.S. private equity firm Lone Star to acquire Portuguese bank Novo Banco (notified June 12/deadline July 17/simplified)

OCT 17

-- U.S. smartphone chipmaker Qualcomm QCOM.O to acquire Dutch company NXP Semiconductors NV NXPI.O (notified April 28/deadline extended to Oct. 17 from June 9 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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