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EU mergers and takeovers (Jan 9)

Published 2017-01-09, 06:29 a/m
© Reuters.  EU mergers and takeovers (Jan 9)
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BRUSSELS, Jan 9 (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

-- Private equity firm Onex Corp ONEX.TO to acquired Parkdean Resorts, a British operator of caravan holiday parks (notified on Jan. 6/deadline Feb. 10/simplified)

EXTENSIONS AND OTHER CHANGES

FIRST-STAGE REVIEWS BY DEADLINE

JAN 13

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

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)

-- 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. 19 after commitments submitted)

JAN 20

-- U.S. investment group KKR KKR.N to acquire a majority stake in Swedish bed and mattress 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 mattress 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 acquire New York-listed insurer Endurance Specialty Holdings Ltd ENH.N (notified Dec. 13/deadline Jan. 25/simplified)

-- 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. 25 after commitments submitted)

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, a unit of NN Group NN.AS , and CBRE Group Inc (NYSE:CBG) CBG.N together with Poste Vita to acquire indirect joint control of over 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 6

-- TPG Capital to acquire majority stake in Intel Corp 's INTC.O cyber security unit (notified Dec. 23/deadline Feb. 6/simplified)

-- Bunge BG.N to buy two European oilseed processing facilities in France and the Netherlands from Cargill (notified Dec. 23/deadline Feb. 6)

-- Swedish private equity fund Altor Fund IV to acquire rest of customer service provider Transcom Worldwide (notified Dec. 23/deadline Feb. 6/simplified)

-- Predica, an insurance unit of Credit Agricole CAGR.PA , and Macquarie take joint control of Groupe Pisto, which manages installations to store and transfer oil products (notified Dec. 23/deadline Feb 6/simplified)

FEB 7

-- U.S. factory automation equipment maker Emerson Electric Co EMR.N to buy pump manufacturer Pentair Plc's PNR.N valves and controls business (notified Jan. 3/deadline Feb. 7)

FEB 9

-- Sumitomo Rubber Industries Ltd 5110.T to buy UK firm Micheldever Group (notified Jan. 5/deadline Feb. 9/simplified)

FEB 10

-- Private equity firm Onex Corp ONEX.TO to acquired Parkdean Resorts, a British operator of caravan holiday parks (notified on Jan. 6/deadline Feb. 10/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 13

-- 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, then by further five working days to March 13)

APRIL 12

-- 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 extended to April 12)

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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