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EU mergers and takeovers (Aug 9)
2017年8月9日 / 下午3点10分 / 1 个月前

EU mergers and takeovers (Aug 9)

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

APPROVALS AND WITHDRAWALS

-- French carmaker Peugeot and French bank BNP Paribas to acquire joint control of U.S. carmaker General Motors’ financing subsidiaries and branches (approved Aug. 8)

-- Spanish bank Banco Santander to acquire peer Banco Popular Group (approved Aug. 8)

-- Canadian pension fund OTPP, Canadian investment management company AIMCo, Canadian infrastructure manager Borealis, which administers the Ontario Municipal Employees Retirement System Primary Pension Plan, and fund manager KIA to jointly acquire British airport LCY (approved Aug. 8)

NEW LISTINGS

None

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

AUG 16

-- Norwegian retailer Norgesgruppen and Swedish peer Axfood to jointly acquire Swedish food retailer Eurocash Food AB (notified July 10/deadline Aug. 16)

AUG 22

-- German industrial group Bayer to acquire U.S. seeds company Monsanto (notified June 30/deadline extended to Aug. 22 after Bayer offered concessions)

AUG 23

-- Asset management company Carlyle and private equity firm GTCR to jointly acquire contract research company Albany Molecular Research (notified July 17/deadline Aug. 23/simplified)

AUG 24

-- Luxembourg-based investment company Letterone to acquire British healthcare product retailer Holland & Barrett (notified July 18/deadline Aug. 24/simplified)

AUG 25

-- Danish shipping company AP Moller Maersk and Denmark’s Danske Bank to set up a joint venture (notified July 19/deadline Aug. 25/simplified)

-- U.S. scientific instruments maker Thermo Fisher Scientific to acquire Dutch drugmaker Patheon (notified July 19/deadline Aug. 25)

-- Swiss vending services provider Selecta, which is controlled by private equity firm KKR, to acquire Dutch peer Pelican Rouge (notified July 5/deadline extended to Aug. 25 after Selecta offered concessions)

AUG 28

-- Aerospace and marine product maker Moog Inc and Singapore Airlines Ltd’s engineering unit to set up a joint venture (notified July 24/deadline Aug. 28/simplified)

-- Dutch asset management company APG to acquire a portfolio of 48 project companies in Belgium, France, Germany, the Netherlands and the UK (notified July 20/deadline Aug. 28/simplified)

-- Private equity firm HGCapital to acquire software provider Visma (notified July 20/deadline Aug. 28/simplified)

-- French oil major Total, credit card payment services company Worldline S.A. and African fintech provider Intouch Corp to acquire joint control of digital payment services provider Intouch SAS (notified July 20/deadline Aug. 28/simplified)

-- Canadian asset manager Brookfield and French energy company Engie to acquire joint control of British electricity wholesaler FHHGL (notified July 20/deadline Aug. 28/simplified)

AUG 29

-- French private equity firm Ardian to acquire engineering services provider Assystem Technologies’ Global Product Solutions unit (notified July 24/deadline Aug. 29)

-- Norwegian metals company Norsk Hydro to acquire sole control of aluminium company Sapa, which is a joint venture with Norwegian conglomerate Orkla ASA (notified July 24/deadline Aug. 29/simplified)

AUG 31

-- French dairy company Groupe Lactalis to acquire German peer Omira (notified July 26/deadline Aug. 31)

-- Private equity firm CVC Capital to acquire Italian leather processing company Pasubio (notified July 26/deadline Aug. 31/simplified)

SEPT 1

-- Television holding groups ProSiebenSat.1 Media of Germany, France’s TV group TF1 and Mediaset with networks in Italy and Spain to establish a joint venture selling advertising space (notified July 27/deadline Sept. 1/simplified)

SEPT 4

-- VIMNI, Viacom’s Italian branch, and publisher De Agostini Editore to jointly acquire DeA Broadcast, a new LLC programming creator (notified July 28/deadline Sept. 4/simplified)

SEPT 6

-- Pamplona Capital to acquire biopharmaceutical company Parexel (notified Aug. 1/deadline Sept. 6/simplified)

-- Brammer France SAS, owned by U.S. private equity firm Advent International, to acquire machine parts supplier Industrial Parts Holding (notified Aug. 1/deadline Sept. 6/simplified)

SEPT 8

-- General Electric Company and global investments provider Macquarie Corporate Holdings to acquire joint control of Markbygden ETT AB, an onshore wind farm project in Sweden (notified Aug. 3/deadline Sept. 8/simplified)

SEPT 11

-- Cinven Capital Management and the Canada Pension Plan Investment Board to acquire joint control of GTA Travel Holding Ltd (notified Aug. 4/deadline Sept. 11)

-- French banking group BNP Paribas Group to acquire sole control of PEH Milan Holdco S.r.l, thus establishing joint control of the latter’s two hotels in Italy with Starwood Hotels & Resorts Worldwide, a subsidiary of Marriott International, which manages the hotels (notified Aug. 4/deadline Sept. 11/simplified)

SEPT 12

-- Telecommunications infrastructure maintenance company CTDI GmbH, jointly controlled by Communication Test Design, Inc. and Deutsche Telekom AG, to acquire EMEA electronics repair business of Regenersis Services Ltd. from CTDI Inc., changing current sole control to joint control via CTDI GmbH (notified Aug. 7/deadline Sept. 12/simplified)

NOV 30

-- Private equity firm Bain Capital Investors to acquire German tyre wholesaler Reiff Tyre (notified July 25/deadline Aug. 30/simplified)

-- German brake systems maker Knorr-Bremse to acquire Swedish peer Haldex (notified June 1/deadline extended to Nov. 30 from July 24 the European Commission opened an in-depth investigation)

DEADLINE SUSPENDED

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

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. (Reporting by Elizabeth Miles)

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