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EU mergers and takeovers (Sept 20)

Published 2016-09-20, 11:45 a/m
© Reuters.  EU mergers and takeovers (Sept 20)

BRUSSELS, Sept 20 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Computer Sciences Corp (NYSE:CSC) CSC.N to merge with Hewlett Packard Enterprise's HPE.N information technology services segment (approved Sept. 19)

-- Canon Inc 7751.T to acquire Toshiba Corp's 6502.T medical equipment unit (approved Sept. 19)

-- UK property developer Segro SGRO.L and Canada's Public Sector Pension Investment Board to jointly acquire two Dutch logistics operations (approved Sept. 19)

-- Britain's Centrica CNA.L to acquire Danish energy management company Neas Engergy (approved Sept. 19)

-- Private equity firms Hellman & Friedman Capital Partners and Permira to acquire joint control of U.S. software provider Genesys (approved Sept. 14)

-- Valeo (PA:VLOF) and Siemens SIEGn.DE to set up a joint venture (approved Sept. 14)

-- UK property developer Segro SGRO.L and Canada's Public Sector Pension Investment Board to jointly acquire BNP Paribas' BNPP.PA logistics warehouse asset in Italy (approved Sept. 14)

-- Israel's Teva Pharmaceutical Industries (NYSE:TEVA) TEVA.TA to acquire Allergan's AGN.N Anda distribution business (approved Sept. 13)

-- Swiss bank PostFinance PFAG.UL and infrastructure group SIX to acquire joint control of a new mobile payment system Twint (approved Sept. 13)

NEW LISTINGS

-- German drugmaker Boehringer Ingelheim to acquire French peer Sanofi's SASY.PA animal health business (notified Sept. 19/deadline Oct. 24)

-- Aeroporti di Roma subsidiary Atlantia and French energy company EDF EDF.PA to jointly acquire airport operator Societe Aeroports de la Cote d'Azur (ACA) (notified Sept. 16/deadline Oct. 21/simplified)

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-- Private equity firm Cinven CINV.UL to acquire Italian insurer Old Mutual Wealth Italy (notified Sept. 16/deadline Oct. 21/simplified)

-- German tourism company TUI AG TUIT.L to acquire French peer Transat France's TRZ.TO French and Greek tour operating units (notified Sept. 16/deadline Oct. 21)

-- U.S. pulp and paper company International Paper Co IP.N to acquire Weyerhaeuser's WY.N pulp business (notified Sept. 15/deadline Oct. 20)

-- Private equity firms Blackstone (NYSE:BX) BX.N and New Mountain Capital to jointly acquire software provider Ida Software (notified Sept. 15/deadline Oct. 20/simplified)

-- Private equity firms Advent International and Thomas H. Lee Partners to jointly acquire pharmaceutical services provider InVentiv (notified Sept. 15/deadline Oct. 20/simplified)

-- Australian logistics company Brambles BXB.AX and First Reserve Management L.P. to set up a joint venture (notified Sept. 13/deadline Oct. 18/simplified)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

SEPT 20

-- China's HNA Group to acquire Swiss airline catering firm Gategroup GATE.S (notified Aug. 16/deadline Sept. 20)

-- Agricultural commodities trader Bunge BG.N to acquire majority stake in German company Walter Rau (notified Aug. 16/deadline Sept. 20/simplified)

SEPT 22

-- Czech investor EPH and private equity group PPF Investments to buy from Sweden's stale-owned utility Vattenfall VATN.UL lignite mines and power plants in Germany - Vattenfall Mining and Vattenfall Generation (notified Aug. 18/deadline Sept. 22)

SEPT 23

-- Triton Group to acquire sole control over Stromboli, holding entity of Flakt Woods (notified Aug. 19/deadline Sept. 23)

-- FIH Mobile to buy from Microsoft Mobile Vietnam and other assets from Microsoft Mobile MSFT.O (notified Aug. 19/deadline Sept. 23)

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SEPT 28

-- Deutsche Boerse DB1Gn.DE and the London Stock Exchange LSE.L plan to merge (notified Aug. 24/deadline Sept. 28)

SEPT 29

-- U.S. private investment firm Lindsay Goldberg to acquire Austria-based Schur Flexibles Group, a manufacturer of flexible packaging products (notified Aug. 25/deadline Sept. 29/simplified)

OCT 4

-- Private equity firm PAI Partners to acquire Dutch holiday park operator RP Group (notified Aug. 30/deadline Oct. 4/simplified)

OCT 5

-- Japanese carmaker Nissan Motor Co Ltd 7201.T to acquire Japanese peer Mitsubishi Motors Corp 7211.T (notified Aug. 31/deadline Oct. 5)

OCT 6

-- U.S. electric component distributor Avnet AVT.N to acquire British Raspberry Pi mini-computer maker Premier Farnell PFL.L (notified Sept. 1/deadline Oct. 6)

OCT 7

-- Meat processing company ABP Food Group to acquire a 50 percent stake in Irish beef producer Slaney Food (notified Sept. 2/deadline Oct. 7)

-- Swedish telecoms operator Tele2 to acquire Danish peer TDC's Swedish subsidiary TDC TDC.CO Sverige AB (notified Sept. 2/deadline Oct. 7)

OCT 10

-- German cement producers Heidelbergcement HEIG.DE and Schwenk to jointly acquire Mexican peer Cemex's CMXCPO.MX Croatian unit (notified Sept. 5/deadline Oct. 10)

OCT 12

-- U.S. laser tools and systems maker Coherent COHR.O to acquire laser developer and manufacturer Rofin-Sinar Technologies RSTI.O (notified Sept. 7/deadline Oct. 12)

-- China National Chemical Corp (ChemChina) CNNCC.UL to acquire crop protection maker Adama Agricultural Solutions from Israel's Discount Investment Corp DISI.TA (notified Sept. Sept. 7/deadline Oct. 12/simplified)

-- UK property developer Segro SGRO.L and Canada's Public Sector Pension Investment Board to jointly acquire a Polish logistics unit (notified Sept. 7/deadline Oct. 12/simplified)

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-- French jewellery retailer Thom S.A.S., which is owned by private equity firm Bridgepoint Group Ltd, to acquire Italian peer Stroili Oro S.p.A. (notified Sept. 7/deadline Oct. 12/simplified)

OCT 13

-- Private equity firm BC Partners BCPRT.UL to acquire plastic products maker Keter and holding company Jardin (notified Sept. 8/deadline Oct. 13/simplified)

-- Singaporean palm oil processor Wilmar WLIL.SI to acquire commodity trader Bunge Ltd's BG.N stake in a Vietnamese oilseed crushing business (notified Sept. 8/deadline Oct. 13/simplified)

OCT 14

-- Chinese household appliances company Midea Group 000333.SZ to acquire German industrial robot maker Kuka KU2G.DE (notified Sept. 9/deadline Oct. 14/simplified)

-- Private equity firm Clayton Dubilier & Rice and Austrian holding company WM Holding to jointly acquire French furniture retailer Decomeubles Partners SAS (notified Sept. 9/deadline Oct. 14/simplified)

-- French minerals company Imerys IMTP.PA to acquire alumina producer Alteo ARC and Alufin GmbH Tabularoxid from Alteo Holding SAS(notified Sept. 9/deadline Oct. 14)

-- Indonesian waste management company GLM, Singaporean industrial company Multico, Japanese chemical producer Toray Group and Japense trading company Toyota Tsusho Corp to set up a joint venture (notified Sept. 9/deadline Oct. 14/simplified)

OCT 17

-- Belgian wind energy producer Eneco Wind Belgium NV and Belgian peer Elicio NV to set up a joint venture (notified Sept. 12/deadline Oct. 17/simplified)

OCT 18

-- Beijing Jianguang Asset Management Co Ltd to acquire chipmaker NXP Semiconductors' NXPI.O standard prodcuts business unit Nexperia (notified Sept. 13/deadline Oct. 18/simplified)

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/commitments offered July 25)

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SUSPENDED

-- U.S. chemicals company Dow Chemical (NYSE:DOW) DOW.N to merge with DuPont (NYSE:DD) DD.N (notified June 22/deadline suspended after companies failed to provide key information)

-- 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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