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EU mergers and takeovers (May 23)

Published 2017-05-23, 12:22 p/m
Updated 2017-05-23, 12:30 p/m
© Reuters.  EU mergers and takeovers (May 23)

BRUSSELS, May 23 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Australian bank Macquarie MBL.UL and British pension fund Universities Superannuation Scheme to acquire nine windfarms from Green Investment Bank (approved May 22)

-- Investment firms Cinven Capital Management CINV.UL and Canada Pension Plan Investment Board to acquire joint control of Travel Holdings Parent Corporation (approved May 22)

NEW LISTINGS

-- 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)

-- 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)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

MAY 29

-- French EDF EDF.PA to acquire equipment and fuel manufacturing company Areva AREVA.PA (notified April 18/deadline May 29)

MAY 30

-- French media group Vivendi VIV.PA to acquire de facto sole control of Italy's Telecom Italia TLIT.MI (notified March 31/deadline extended to May 30 from May 12 after Vivendi offered concessions)

MAY 31

-- Manufacturing and technology company General Electric's GE.N Oil & Gas to acquire oilfield services company Baker Hughes BHI.N (notified April 20/deadline May 31)

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JUNE 1

-- Waste water company SGAB and Spanish infrastructure company Acciona ANA.MC to acquire 10 percent of Sociedad Concesionaria de la Zona Regable del Canal de Navarra (notified April 21/deadline June 1/simplified)

JUNE 7

-- German company CWS-Boco, which is part of German firm Haniel, to acquire some of British support services firm Rentokil's RTO.L workwear and hygiene units (notified April 26/deadline June 7)

JUNE 8

-- 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 June 8)

JUNE 9

-- Private equity firm Hellman & Friedman to acquire Spanish logistics platform Allfunds Bank (notified April 28/deadline June 9/simplified)

-- U.S. smartphone chipmaker Qualcomm QCOM.O to acquire Dutch companyr NXP Semiconductors NV NXPI.O (notified April 28/deadline June 9)

-- Chinese textiles company Shanghai Shenda 600626.SS to acquire International Automotive Components Group's IAUCP.UL trim and acoustics unit business (notified April 24/deadline June 9/simplified)

JUNE 12

-- American healthcare company Johnson & Johnson (NYSE:JNJ) JNJ.N to acquire Swiss biotech company Actelion ATLN.S (notified April 12/deadline extended to June 12 from May 24 after the companies offered concessions)

-- Norwegian debt collection agency Nordic Capital, which is majority owned by Nordic Capital Fund VIII and Swedish peer firm Intrum Justitia IJ.ST to merge (notified April 12/deadline extended to June 12 from May 24 after the companies offered concessions)

JUNE 14

-- Private equity firms BC Partners and Pollen Street Capital Ltd to jointly acquire UK bank Shawbrook Group plc (notified May 4/deadline June 14/simplified)

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JUNE 15

-- U.S. private equity firm Leonard Green & Partners and the Ontario Municipal Employees Retirement System Primary Pension Plan (OMERS) to acquire joint control of U.S. car repairs company OPE Caliber Holdings (notified May 5/deadline June 15/simplified)

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

JUNE 21

-- Investment bank Goldman Sachs (NYSE:GS) GS.N and French investment company Eurazeo EURA.PA to jointly acquire Dominion Web Solutions (notified May 12/deadline June 21/simplified)

-- French private equity company Ardian France and real estate agent Jones Lang LaSalle Inc JLL.N to jointly acquire an office building in France (notified May 12/deadline June 21/simplified)

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

JUNE 22

-- 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

-- 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

-- 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)

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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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