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EU mergers and takeovers (Dec 23)

Published 2016-12-23, 09:59 a/m
© Reuters.  EU mergers and takeovers (Dec 23)
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BRUSSELS, Dec 23 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Private equity firms Cinven CINV.UL , Permira and Mid Europa to acquire Polish e-commerce business Allegro and Polish price comparison website Ceneo from South African media and e-commerce company Naspers (approved Dec. 21)

-- Venture capital company Rockaway Capital SE, energy company EC Investments and Czech financial services company PPF Group N.V. PPFGP.UL to create online shopping joint venture Sully System (approved Dec. 21)

-- Coca Cola Company KO.N to buy 50 percent stake in Lithuanian mineral water producer Neptuno Vandenys from Coca Cola Hellenic Bottling Company CCH.L (approved Dec. 21)

-- Business consultancy Everis Initiatives, which is a subsidiary of Japanese group NTT Data 9613.T , and Spanish bank Bankia BKIA.MC to jointly acquire Spanish company Nettit Colaborative Payment, which is now solely controlled by Everis (approved Dec. 20)

-- Verizon Communications (NYSE:VZ) VZ.N to acquire U.S. internet company Yahoo YHOO.O (approved Dec. 21)

-- French automotive manufacturer Groupe PSA PEUP.PA to take control of French second-hand car distributor Groupe Aramis (approved Dec. 20)

NEW LISTINGS

-- Private equity investor Advent International Corp to acquire industrial parts maker Brammer BRAM.L (notified Dec. 21/deadline Feb. 2/simplified)

-- Canada-listed holding company Fairfax and Sagard Holdings, a subsidiary of Power Corporation of Canada POW.TO , to acquire joint control of sports good manufacturer PSG (notified Dec. 21/deadline Feb. 2/simplified)

-- Private equity firm Cerberus Group to buy majority stake in Staples Europe from Staples SPLS.O (notified Dec. 22/deadline Feb. 3/simplified)

-- UK private equity fund adviser Apax Partners to take sole control of diagnostic service provider Unilabs (notified Dec. 22/deadline Feb. 3/simplified)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

JAN 5

-- UK engineering company Smiths Group SMIN.L to acquire U.S.-based Morpho Detection from French aerospace company Safran SAF.PA (notified Nov. 23/deadline Jan. 5)

JAN 6

-- Chinese insurance company Fosun to acquire German fashion house Tom Tailor (notified Nov. 24/deadline Jan. 6/simplified)

JAN 9

-- Czech e-commerce services company Rockaway Capital SE, energy company EC Investments and Czech financial services company PPF Group N.V. to acquire Sully systems, which will act as a holding company (notified Nov. 25/deadline Jan. 9/simplified)

JAN 11

-- U.S. medical devices maker Abbott Laboratories (NYSE:ABT) ABT.N to acquire U.S. diagnostics company Alere ALR.N (notified Nov. 29/deadline Jan. 11)

JAN 13

-- Investment firm HIG Capital to acquire shares in Dutch recycling company Ecore (notified Dec. 1/deadline Jan. 13/simplifed)

-- U.S. conglomerate Koch Industries KCHIN.UL to acquire U.S. peer Guardian Industries (notified Dec. 1/deadline Jan. 13/simplified)

JAN 17

-- German automotive parts supplier Rheinmetall Automotive and Chinese automobile radiator company Zhejan Yinlun Machinery to form joint venture JV (notified Dec. 5/deadline Jan. 17/simplified procedure)

-- U.S. investment firm KKR & Co. KKR.N to take sole control of Japanese auto parts supplier Calsonic Kansei Corp 7248.T (notified Dec. 5/deadline Jan. 17/simplified)

JAN 18

-- Private equity firm Permira to acquire online fashion products retailer Schustermann & Borenstein (notified Dec. 6/deadline Jan. 18/simplified)

-- Private equity firm Permira PERM.UL to acquire German fashion retailer and exporter Schustermann & Borenstein (notified Dec. 6/deadline Jan. 18/simplified)

JAN 19

-- Smiths Detection U.S. Holdings, subsidiary of British technology group Smiths Group SMIN.L , to acquire sole control of U.S.-based Morpho Detection (notified Nov. 23/deadline Jan. 19)

JAN 20

-- U.S. investment group KKR KKR.N to acquire a majority stake in Swedish bed and mattrass maker Hilding Anders HIDIN.UL (notified Dec. 8/deadline Jan. 20/simplified)

-- South Africa's Barloworld Ltd BAWJ.J and Germany's BayWa BYWGnx.DE to establish BHBW joint venture for agriculture and materials handling operations in southern Africa (notified Dec. 8/deadline Jan. 20/simplified)

-- U.S. investment group KKR KKR.N to acquire a majority stake in Swedish bed and mattrass maker Hilding Anders HIDIN.UL (notified Dec. 8/deadline Jan. 20/simplified)

-- South Africa's Barloworld Ltd BAWJ.J and Germany's BayWa BYWGnx.DE to establish BHBW joint venture for agriculture and materials handling operations in southern Africa. (notified Dec. 8/deadline Jan. 20/simplified)

JAN 23

-- France's Schneider Electric SCHN.PA and DB Energie to form a joint venture (notified Dec. 9/deadline Jan. 23/simplified)

JAN 25

-- Japanese holding company Sompo Holdings Inc 8630.T to acquireNew York-listed insurer Endurance Specialty Holdings Ltd ENH.N (notified Dec. 13/deadline Jan. 25/simplified)

JAN 26

-- Japan's Mitsubishi Chemical Holdings Corporation 4188.T and Ube Industries 4208.T to acquire joint control of electrolytes makers Changshu MC Ionic Solutions CN Co Ltd and AET Electrolyte Technologies (Zhangjiagang) Co. Ltd (notified Dec. 14/deadline Jan. 26/simplified)

-- EP Investment and EP Investment II to jointly acquire Czech utility Energeticky a prumyslovy holding, a.s. (EPH) (notified Dec. 14/deadline Jan. 26/simplified)

JAN 30

-- ArcelorMittal Distribution Services France ISPA.AS and Cellino to create a joint venture Steelcame Srl active in industrial sheet metal workshop and steel distribution (notified Dec. 16/deadline Jan 30)

JAN 31

-- Hitachi Chemical Company 6501.T and Italy's Fiamm to form joint venture in automotive and industrial lead-acid batteries (notified Dec. 19/deadline Jan 31/simplified)

-- Austria's Alpha Bank ACBr.AT and investment management firm Centerbridge to take joint control over debt management service coordinator Kaican (notified Dec. 19/deadline Jan 31/simplified)

FEB 2

-- REI Germany Cross Docks and CBRE Group Inc (NYSE:CBG) together with Poste Vita to acquire indirect joint control ofver 10 real estate assets in Germany (notified Dec. 21/deadline Feb. 2/simplified)

-- Private equity investor Advent International Corp to acquire industrial parts maker Brammer BRAM.L (notified Dec. 21/deadline Feb. 2/simplified)

-- Canada-listed holding company Fairfax and Sagard Holdings, a subsidiary of Power Corporation of Canada POW.TO , to acquire joint control of sports good manufacturer PSG (notified Dec. 21/deadline Feb. 2/simplified)

FEB 3

-- Private equity firm Cerberus Group to buy majority stake in Staples Europe from Staples SPLS.O (notified Dec. 22/deadline Feb. 3/simplified)

-- UK private equity fund adviser Apax Partners to take sole control of diagnostic service provider Unilabs (notified Dec. 22/deadline Feb. 3/simplified)

FEB 23

-- German cement producers Heidelbergcement HEIG.DE and Schwenk to jointly acquire Mexican peer Cemex's CMXCPO.MX Croatian unit (notified Sept. 5/deadline extended to Feb. 23 from Oct. 10 after the European Commission opened an in-depth investigation)

FEB 28

-- U.S. chemicals company Dow Chemical (NYSE:DOW) DOW.N to merge with DuPont (NYSE:DD) DD.N (notified June 22/deadline Feb. 28)

MARCH 6

-- Deutsche Boerse DB1Gn.DE and the London Stock Exchange LSE.L plan to merge (notified Aug. 24/deadline extended to March 6 from Feb. 13 after the companies asked for more time)

MARCH 29

-- Chinese state-owned company China National Chemical Corp (ChemChina) CNNCC.UL to acquire Swiss pesticides and seeds group Syngenta SYNN.S (notified Sept. 23/deadline March 29)

SUSPENDED

-- Azerbaijan's state energy company SOCAR 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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