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EU mergers and takeovers (Dec 20)

Published 2017-12-20, 11:14 a/m
© Reuters.  EU mergers and takeovers (Dec 20)

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

APPROVALS AND WITHDRAWALS

-- Canada Pension Plan Investment Board, German insurer Allianz (DE:ALVG) and Spanish utility Gas Natural GAS.MC to acquire joint control of Gas Natural's natural gas distribution business in Spain Gas Natural Fenosa Generacion Nuclear (approved Dec. 19)

-- French bank Societe Generale SOGN.PA and BNP Paribas BNPP.PA to jointly acquire French property developer Powerhouse France (approved Dec. 19)

EXTENSIONS AND OTHER CHANGES

-- South African chemicals company Tronox TROX.N to acquire the titanium dioxide business of Cristal, a subsidiary of Saudi Arabia's Tasnee (notified Nov. 15/deadline extended to May 15 from Dec. 20 after the European Commission opens an in-depth investigation)

FIRST-STAGE REVIEWS BY DEADLINE

DEC 21

-- German carrier Lufthansa LHAG.DE to acquire some Air Berlin AB1.DE assets (notified Oct. 31/deadline extended to Dec. 21 from Dec. 7 after Lufthansa offered concessions)

-- French aerospace group Safran SAF.PA to acquire French seats maker Zodiac Aerospace ZODC.PA (notified Nov. 16/deadline Dec. 21)

-- Private equity firm CVC CVC.AX to acquire Israeli drugmaker Teva Pharmaceutical (NYSE:TEVA) Industries' TEVA.TA women's health business (notified Nov. 16/deadline Dec. 21)

DEC 22

-- Hong Kong conglomerate CK Hutchison's 0001.HK container terminal operator Hutchison Ports Netherlands B.V. and Dutch stevedoring services provider TMA Holding to acquire joint control of Dutch logistics company TMA Logistics (notified Nov. 17/deadline Dec. 22/simplified)

-- French petroleum product storage and distribution group Rubis Group RUBF.PA and Phillips 66 (NYSE:PSX) to acquire joint control of Zeller & Cie (notified Nov. 17/deadline Dec. 22)

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JAN 8

-- Japanese electronics parts maker Kyocera 6971.T to acquire Japanese diecasting maker Ryobi's power tool business (notified Nov. 23/deadline Jan. 8/simplified)

JAN 9

-- Comsa Concesionanes S.L., Mirova Core Infrastructure and Dutch fund manager PGGM Infrastructure Funds to acquire joint control of Cedinsa Concessionaria (notified Nov. 24/deadline Jan. 9/simplified)

JAN 10

-- UK private equity firm TDR Capital to acquire French restaurant franchise operator Rossini Holding (notified Nov. 27/deadline Jan. 10/simplified)

JAN 11

-- France's La Poste, Italian insurer Generali GASI.MI and insurer Malakoff Mederic to acquire joint control of French concierge services provider EAP France (notified Nov. 28/deadline Jan. 11/simplified)

-- Asset management firm Aviva Investors, which is part of UK insurer Aviva AV.L , and French pension fund ERAFP to jointly acquire a shopping centre in Strasbourg, France (notified Nov. 28/deadline Jan. 11/simplified)

JAN 12

-- Private equity firm KKR KKR.N and South Korean industrial company LS Mtron LSCABM.UL to jointly acquire South Korean car components maker LS Auto DAEEL.UL (notified Nov. 29/deadline Jan. 12/simplified)

JAN 16

-- U.S. investment fund Starwood Capital Group and French hotel group Accor ACCP.PA to jointly acquire a hotel in Budapest, Hungary (notified Dec. 1/deadline Jan. 16/simplified)

-- French venture capital fund Mirova, which is a subsidiary of French bank BPCE's BPCE.UL Natixis Asset Management, and U.S. industrial group GE GE.N to jointly acquire two Spanish windfarms Idesamgar and Idesamgar I (notified Dec. 1/deadline Jan. 16/simplified)

JAN 18

-- UK retailer JD Sports Fashion Plc JD.L , investment vehicle Balaiko Firaja Invest and food and non-food trader Sonae MC, which is controlled by Efanor Investimentos, to jointly acquire sports goods retailer JDSH Sprinter Holdings 2010 (notified Dec. 5/deadline Jan. 18)

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JAN 23

-- U.S. television network Discovery Communications DISCA.O to acquire U.S. peer Scripps Networks Interactive Inc SNI.O (notified Dec. 8/deadline Jan. 23)

-- Property investment management company Jones Lang LaSalle JLL.N and UK real estate investment fund Intu Properties to jointly acquire a shopping centre in Norwich, UK (notified Dec. 8/deadline Jan. 23/simplified)

JAN 24

-- Chinese pork supplier WH Group 0288.HK subsidiary and U.S. meat producer Smithfield to acquire Polish meat company Pini Polonia (notified Nov. 27/deadline extended to Jan. 24 from Jan. 10/Polish competition authority asked to review the case Dec. 15)

-- CFC, which is part of Chinese conglomerate the CEFC Group and investment company Rockawy Capital to jointly acquire Czech holding company European Bridge Travel (notified Dec. 11/deadline Jan. 24/simplified)

JAN 30

-- U.S. insulation and roofing company Owens Corning Finland OC.N to acquire financial services provider Parry 1 Holding (notified Dec. 15/deadline Jan. 30)

MARCH 5

-- German industrial group Bayer BAYGn.DE to acquire U.S. seeds company Monsanto (NYSE:MON) MON.N (notified June 30/deadline March 5)

MARCH 8

-- Italian eyewear maker Luxottica LUX.MI and French lens manufacturer Essilor ESSI.PA to merge (notified Aug. 22/deadline March 8)

MARCH 15

-- U.S. smartphone chipmaker Qualcomm QCOM.O to acquire Dutch company NXP Semiconductors NV NXPI.O (notified April 28/deadline March 15)

MARCH 19

-- U.S. specialty material company Celanese CE.N and private equity firm Blackstone (NYSE:BX) BX.N to combine their cellulose acetate tow units under a new joint venture (notified Sept. 9/deadline extended to March 19 from March 5)

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APRIL 4

-- Luxembourg-based steelmaker ArcelorMittal MT.AS to acquire Italian steel plant (notified Sept. 21/deadline extended to April 4 from March 23 after the companies asked for more time)

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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