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EU mergers and takeovers (Sept 9)

Published 2016-09-09, 01:56 p/m
© Reuters.  EU mergers and takeovers (Sept 9)

BRUSSELS, Sept 9 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Private equity firm First Reserve to acquire UK service provider Morrison Utility Services (approved Sept. 8)

-- Commodities trader Archer Daniels Midland Co ADM.N and Singaporean palm oil processor Wilmar International Ltd WLIL.SI to acquire joint control of Olenex joint venture (approved Sept. 8)

-- Impulsora Del Desarrollo Y El Empleo En America Latina, S.A.B. De C.V., Canada Pension Plan Investment Board (CPPIB) and Ontario teachers' pension plan create strategic partnership to invest in infrastructure assets in Mexico (approved Sept. 8)

NEW LISTINGS

-- 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)

-- 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)

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 suspended after companies failed to provide key information)

FIRST-STAGE REVIEWS BY DEADLINE

SEPT 9

-- Investment fund Partners Group to acquire real estate services provider Foncia Holding and its subsidiaries (notified July 4/deadline Aug. 9/simplified)

SEPT 15

-- Private investment company Ardian to acquire joint control of fibre product producer Kemide and its subsidiary Kermel (notified Aug. 10/deadline Sept. 15/simplified)

SEPT 16

-- Dutch infrastructure fund DIF and French utility EDF EDF.PA to acquire German gas grid Thyssengas (notified Aug. 11/deadline Sept. 16)

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SEPT 19

-- Canon Inc 7751.T to acquire Toshiba Corp's 6502.T medical equipment unit (notified Aug. 12/deadline Sept. 19)

-- A division of Chinese aviation and shipping conglomerate HNA Group HNAIRC.UL to buy U.S-based Carlson Hotels Inc, owner of the Radisson hotel chain (notified Aug. 12/deadline Sept. 19

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 21

-- Computer Sciences Corporation (NYSE:CSC) to merge with Hewlett Packard Enterprise's information technology services segment

(notified Aug.18/eadline Sept. 21/simplified)

SEPT 22

-- Verlinvest and China Resources Co. to acquire joint control over Resources Verlinvest Health Investment (notified Aug.18/deadline Sept. 22/simplified)

-- 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

-- Private equity firms Hellman & Friedman Capital Partners and Permira to acquire joint control of U.S. software provider Genesys (notified Aug. 19/deadline Sept. 23/simplified)

-- Swiss bank PostFinance PFAG.UL and infrastructure group SIX to acquire joint control of a new mobile payment system Twint (notified Aug.19/deadline Sept. 23/simplified)

-- Israel's Teva Pharmaceutical Industries (NYSE:TEVA) TEVA.TA to acquire Allergan (NYSE:AGN_pa)'s AGN.N Anda distribution business (notified Aug. 19/deadline Sept. 23/simplified)

-- Buyout firm Hellman & Friedman, Permira Advisers and Technology Crossover Ventures to buy stake in Genesys, a U.S. provider of call centre software (notified Aug. 19/deadline Sept. 23/simplified)

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-- 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)

-- Valeo (PA:VLOF) and Siemens SIEGn.DE to set up 50/50 joint venture (notified Aug. 19/deadline Sept. 23/simplified)

SEPT 26

-- 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 (notified Aug. 22/deadline Sept. 26/simplified)

SEPT 28

-- UK property developer Segro SGRO.L and Canada's Public Sector Pension Investment Board to jointly acquire two Dutch logistics operations (notified Aug. 24/deadline Sept. 28/simplified)

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

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

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-- 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

-- 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)

-- 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 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)

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.

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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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