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EU mergers and takeovers (July 3)

Published 2017-07-03, 07:15 a/m
© Reuters.  EU mergers and takeovers (July 3)
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BRUSSELS, July 3 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- 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 (approved June 30)

-- Japan's Hitachi Group 6501.T and Japanese carmaker Honda 7267.T to set up a joint venture (approved June 30)

-- Finnish industrial engine maker Wartsila WRT1V.HE and China State Shipbuilding Corp (CSSC) to set up a joint venture (approved June 30)

-- 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 (approved June 30)

-- Dutch insurer NN Group NN.AS to acquire the Munich-based Holiday Inn hotel (approved June 30)

NEW LISTINGS

-- Japan's Toray Industries and Japanese industrial conglomerate Mitsui Co Ltd to jointly acquire Japanese fragrance and chemicals maker Soda Aromatic Co Ltd 4965.T (notified June 29/deadline Aug. 4/simplified)

EXTENSIONS AND OTHER CHANGES

-- German brake systems maker Knorr-Bremse STELLG.UL to acquire Swedish peer Haldex HLDX.ST (notified June 1/deadline extended to July 24 from July 7 after Knorr-Bremse offered concessions)

FIRST-STAGE REVIEWS BY DEADLINE

JULY 5

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

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-- 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 11

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

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

-- 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)

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JULY 17

-- French car distributors PGA Group and Groupe Bernard to set up a joint venture (notified June 12/deadline July 17/simplified)

-- Japanese conglomerate Itochu 8001.T , Japanese printing company Toppan Printing 7911.T and Thailand's Thung Hua Sinn to jointly acquire plastic bag packaging company TPN Food Packaging (notified June 12/deadline July 17/simplified)

-- 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)

-- 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)

JULY 18

-- UK property developer Segro plc and Public Sector Pension Investment Board (PSPIB) to jointly acquire a plot of land (notified June 13/deadline July 18/simplified)

-- Fund management companies Deutsche Alternative Asset Management (Global) Ltd, InfraVia and Finanziaria Internazionale Holding S.p.A (FIH) to jointly acquire FIH subsidiary Agora Investimenti S.p.A which has airport management activities (notified June 13/deadline July 18)

JULY 19

-- French utility group Suez SA SEVI.PA to acquire U.S. conglomerate General Electric (NYSE:GE)'s GE.N water and process technologies business (notified June 14/deadline July 19)

-- Dutch state owned gas operator Gasunie, Dutch storage tank operator Vopak VOP.AS and German gas and chemicals storage company Oiltanking which is controlled by German joint stock company Marquard & Bahls AG to set up a joint venture (notified June 14/deadline July 19/simplified)

JULY 20

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-- Private equity firm Blackstone (NYSE:BX) Group BX.N to acquire Finnish real estate investment company Sponda SDA1V.HE (notified June 15/deadline July 20/simplified)

-- Lithuanian mobile network operator Bite Lietuva, Swedish mobile operator Tele2 and Sweden's Telia to set up a joint venture (notified June 15/deadline July 20)

JULY 24

-- KPS Capital Partners to acquire U.S. car parts maker DexKo Global (notified June 16/deadline July 24/simplified)

-- Australian global investment firm IFM and port builder and concessions operator OHL to acquire joint control of toll road and airport operator OHL Mexico (notified June 16/deadline July 24/simplified)

-- Megatrends which is a unit of investment fund European Cities Fund, and British real estate investment fund Intu Properties Plc (LON:INTUP) to jointly acquire Spain's Xanadu Retail and Leisure (notified June 16/deadline July 24/simplified)

JULY 26

-- Swedish carmaker Volvo VOLVb.ST to acquire Swedish car rental company First Rent A Car AB (notified June 20/deadline July 26)

-- British asset manager Intermediate Capital Group to acquire nursing home operator Domusvi Group (notified June 20/deadline July 26/simplified)

-- Anglo-Swiss chemicals company Ineos to acquire British oil company BP 's BP.L Forties Pipeline System (notified June 20/deadline July 26/simplified)

-- Universities Superannuation Scheme Limited (USSL) and U.S. bank Goldman Sachs GS.N to acquire joint control of Spanish energy company Redexis Gas (notified June 20/deadline July 26/simplified)

-- German conglomerate Harng Central Department Store Ltd and prOperty developer Signa Prime to acquire joint control of German property developer Berlin, Passauer Straße 1-3 Immobilien GmbH & Co. KG (notified June 20/deadline July 26/simplified)

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JULY 31

-- Shipping terminal operator PSA International Pte Ltd and Terminal Investment Ltd Sarl, which is indirectly and jointly controlled by Swiss container line MSC (Mediterraneann Shipping Company), to jointly acquire Belgian container terminal operator PSA DGD (notified June 23/deadline July 31)

AUG 1

-- Property developer Bouygues (PA:BOUY) Immobilier and hotel group Accor (PA:ACCP) to jointly acquire French company Nextdoor which is now solely controlled by Bouygues Immobilier (notified June 26/deadline Aug. 1/simplified)

AUG 2

-- Czech energy company EPH to acquire two UK gas-fired power plants from British energy supplier Centrica CNA.L (notified June 27/deadline Aug. 2/simplified)

AUG 3

-- U.S. industrial company Deere & Co DE.N to acquire German road construction company Wirtgen (notified June 28/deadline Aug. 3)

AUG 4

-- Private equity firms CCMP Capital and MSD Aqua Partners to jointly acquire swimming pool equipment maker Hayward Industries HWRI.PK (notified June 29/deadline Aug. 4/simplified)

-- Credit rating agency Moody's MCO.N to acquire Dutch business intelligence statistics provider Bureau van Dijk Electronic Publishing (notified June 29/deadline Aug. 4/simplified)

-- UK property developer Segro plc and Canada's Public Sector Pension Investment Board (PSPIB) to jointly acquire French logistics asset Morgane Portfolio (notified June 29/deadline Aug. 4/simplified)

-- Austrian construction company WIG Wietersdorfer Holding GmbH and Saudi Arabian Amiantit 2160.SE to set up a joint venture (notified June 29/deadline Aug. 4)

AUG 7

-- German industrial group Bayer BAYGn.DE to acquire U.S. seeds company Monsanto (NYSE:MON) MON.N (notified June 30/deadline Aug. 7)

DEADLINE SUSPENDED

-- U.S. smartphone chipmaker Qualcomm QCOM.O to acquire Dutch company NXP Semiconductors NV NXPI.O (notified April 28/deadline suspended on June 28 after the companies failed to provide relevant information)

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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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