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EU mergers and takeovers (July 26)

Published 2016-07-26, 08:10 a/m
© Reuters.  EU mergers and takeovers (July 26)
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BRUSSELS, July 26 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Czech energy group Energeticky a prumyslovy holding, a.s (EPH) to acquire Italian utility Enel's ENEI.MI Slovakian company Slovenske elektrarne a.s (approved July 26)

-- U.S. generic drugmaker Mylan MYL.O to acquire Swedish peer Meda MEDAa.ST (approved July 20)

-- Chinese gaming group Tencent Holdings Ltd 0700.HK to acquire Finnish mobile game maker Supercell from Japanese Internet and telecoms group SoftBank Group 9984.T (approved July 20)

-- Jones Lang LaSalle to acquire UK management services provider Integral UK Holding (approved July 19)

NEW LISTINGS

-- Japanese cosmetics company Shiseido 4911.T to acquire Italian fashion house Dolce Gabana's fragrances, colour cosmetics and skincare business (notified July 25/deadline Aug. 30/simplified)

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-- British industrial property developer Segro SGRO.L and Canada's Public Sector Pension Investment Board to acquire a French logistics business (notified July 25/deadline Aug. 30/simplified)

-- Dutch employment agency Randstad RAND.AS to acquire French peer Ausy OSI.PA (notified July 22/deadline Aug. 29/simplified)

-- Canadian private equity firm Onex Corp OCX.TO to acquire U.S. wire and cable maker Wireco WRCPA.UL (notified July 22/deadline Aug. 29/simplified)

-- Belgian investment company Cobepa to acquire German logistics company JF Hillebrand Group (notified July 22/deadline Aug. 29/simplified)

-- French investment company Ardian and French insurer Credit Agricole (PA:CAGR) Assurances to jointly acquire French parking operator Indigo Infra (notified July 20/deadline Aug. 26/simplified)

-- Japan Tunnel Systems Corp and Mitsubishi Heavy Industries 7011.T to set up a joint venture (notified July 19/deadline Aug. 25/simplified)

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EXTENSIONS AND OTHER CHANGES

- U.S. chemicals company Dow Chemical (NYSE:DOW) DOW.N to merge with DuPont (NYSE:DD) DD.N (notified June 22/deadline extended to Aug. 11 from July 28 after the companies offered concessions)

-- Finnish crane maker Konecranes KCR1V.HE to acquire U.S. crane maker Terex's GS.N cranes business for ports and factories (MHPS) (deadline June 17/deadline extended to Aug. 8 from July 25 after Konecranes offered concessions)

-- German company Boehringer Ingelheim to acquire French pharmaceutical company Sanofi's SASY.PA animal health buisness (notification withdrawn July 22)

FIRST-STAGE REVIEWS BY DEADLINE

AUG 1

-- Sony Corp 6758.T to buy out the Michael Jackson estate's stake in its music publishing joint venture (notified June 24/deadline Aug. 1)

AUG 2

-- Italian refinery Raffineria di Milazzo S.C.p.A., which is jointly controlled by Italian oil producer Eni S.p.A. ENI.MI and Kuwait Petroleum Italia S.p.A., to joint Italian thermal power plant Termica Milazzo from Italian energy group Edison S.p.A. EDNn.MI (notified June 27/dateline Aug. 2/simplified)

AUG 3

-- British mobile telephony operator Vodafone VOD.L and U.S. cable company Liberty Global LBTYA.O to merge their Dutch operations (notified June 14/deadline Aug. 3/commitments submitted on July 12)

AUG 4

-- French drugmaker Sanofi SASY.PA to acquire Germany company Boehringer Ingelheim's consumer healthcare business (notified June 15/deadline extended to Aug. 4 from July 20 after Sanofi submitted concessions)

-- Australian investment bank Macquarie MQG.AX and Swiss Life Group to acquire joint control of Italian transmission system operator Societa Gasdoti Italia S.p.A. (notified June 29/deadline Aug. 4/simplified)

-- Swedish carmaker Volvo VOLVb.ST to acquire joint control of financial services provider Volvofinans Bank (notified June 29/deadline Aug. 4/simplified)

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AUG 9

-- Investment company Partners Group-led PGHN.S consortium to acquire French property management services provider Foncia from private equity firms Bridgepoint and Eurazeo (PA:EURA) (notified July 4/deadline Aug. 9)

-- Japanese tyre maker Bridgestone Corp 5108.T and German tyre retailer Pneuhage Management GmbH & Co. KG to set up a joint venture (notified July 4/deadline Aug. 9/simplified)

-- Dutch paints and coating producer Akzo Nobel AKZO.AS to acquire German chemicals maker BASF's BASFn.DE industrial coatings business (notified July 4/deadline Aug. 9)

AUG 10

-- Buyout firm EQT to acquire German engineering services group Bilfinger's GBFG.DE building and facility unit (notified July 5/deadline Aug. 10/simplified)

-- U.S. paint company Sherwin-Williams Co (NYSE:SHW) SHW.N to acquire U.S. rival Valspar Corp VAL.N (notified July 5/deadline Aug. 10)

AUG 12

-- Private equity firm Triton to acquire techical services provider Voith Industrial Services (notified July 7/deadline Aug. 12/simplified)

-- Brazilian steel producer Gerdau GGBR4.SA and Japan's Sumitomo Corp 8053.T to set up a joint venture (notified July 7/deadline Aug. 12/simplified)

-- U.S. contract medical research provider Quintiles Transnational Holdings Inc Q.N to merge with U.S. healthcare information company IMS Health Holdings Inc IMS.N (notified July 7/deadline Aug. 12)

AUG 16

-- Italian lender FCA Bank S.p.A. to acquire joint control of auto financing services provider Ferrari (NYSE:RACE) financial services (notified July 8/deadline Aug. 16/simplified)

AUG 18

-- Italian holding company Italmobiliare S.p.A. ITMI.MI to acquire Italian private equity company Clessidra SGR (notified July 12/deadline Aug. 18/simplified)

AUG 19

-- Investment fund Watling Street to acquire electricity meter and set-top box maker Sagemcom (notified July 13/deadline Aug. 19/simplified)

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AUG 23

-- Private equity firm CVC Capital Partners to acquire Italian betting company Sisal Group (notified July 15/deadline Aug. 23/simplified)

SEPT 8

-- CK Hutchison Holdings Ltd 0001.HK and Vimpelcom VIP.O to merge their Italian mobile operations (notified Feb. 5/deadline extended to Sept. 8 from Aug 18)

OCT 24

-- U.S. rail equipment maker Wabtec Corp WAB.N to acquire French peer Faiveley Transport SA FAIP.PA (notified April 4/deadline Oct. 24)

SUSPENDED

-- SOCAR, Azerbaijan's state energy company, 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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