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EU mergers and takeovers (Feb 17)
2015年2月17日 / 下午3点18分 / 3 年前

EU mergers and takeovers (Feb 17)

BRUSSELS, Feb 17 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Asset manager The Carlyle Group and private equity firm Warburg Pincus to jointly acquire control of credit rating agency DBRS Holdings (approved Feb. 16)

NEW LISTINGS

-- Luxembourg-based steel producer ArcelorMittal and Italian peer Coils Lamiere Nastri SpA to form a joint venture (notified Feb. 13/deadline March 20)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

FEB 20

-- French minerals company Imerys to acquire rival S&B Minerals (notified Jan. 15/deadline Feb. 20)

FEB 23

-- U.S. conglomerate General Electric to acquire most of French engineering group Alstom’s power equipment business (notified Jan. 19/deadline Feb. 23)

-- Commodities trader Cargill to buy rival Archer Daniels Midland Co’s global chocolate business (notified Jan. 19/deadline Feb. 23)

FEB 26

-- German car parts maker ZF Friedrichshafen to buy U.S. peer TRW Automotive Holdings Corp (notified Jan. 22/deadline Feb. 26)

FEB 27

-- Canadian private equity firm Onex Corp to acquire aseptic filler machines maker SIG Combibloc Group AG and SIG Holding USA (notified Jan. 23/deadline Feb. 27/simplified)

MARCH 5

-- Belgian telecoms group Telenet to acquire 50 percent stake in Belgian broadcasting company De Vijver Media (notified Aug. 18/deadline extended for the second time to March 5 from Feb. 5)

-- Daimler and Kamaz to merge two currently independent joint ventures, MBTV and FKTR, with new entity making Mercedes-Benz and Kamaz truck cabins in Russia as well as integrating after-sales and spare-parts businesses (notified Jan 29/deadline March 3/simplified)

-- Belgian telecoms group Telenet, which is a subsidiary of U.S. cable group Liberty Global, to acquire 50 percent stake in Belgian broadcasting company De Vijver Media (notified Aug. 18/deadline extended for the second time to March 5 from Feb. 5/companies submitted concessions on Nov. 24)

MARCH 12

-- Lone Star Funds to purchase German cement producer HeidelbergCement AG’s construction products maker Hanson Building entities (notified Feb. 5/deadline March 12/simplified)

-- Spanish bank BBVA to acquire sole control of Turkish lender Garanti Bank which is now jointly controlled by BBVA and Dogus Holding A.S. (notified Feb. 5/deadline March 12/simplified)

-- Australian investment bank Macquarie Group and Wren House, which is owned by the Kuwait Investment Authority, to jointly acquire E.ON’s Iberian business (notified Feb. 5/deadline March 12/simplified)

MARCH 13

-- British insurer Aviva to acquire rival Friends Life (notified Feb. 6/deadline March 13)

-- U.S. medical equipment supplier Becton Dickinson & Co to purchase U.S. maker of infusion pumps and other medical devices CareFusion Corp (notified Feb. 6/deadline March 13)

MARCH 16

-- Irish building products group Kingspan to acquire Belgian holding company Steel Partners NV, which owns Belgian insulated panels maker Joris Ide Group (notified Feb. 9/deadline March 16)

-- Irish drugmaker Actavis to acquire botox maker Allergan (notified Feb. 9/deadline March 16)

MARCH 17

-- Japanese electronics maker Panasonic Corp and holding company Ficosa Inversion, which currently has sole control of Ficosa International, to acquire joint control of Spanish car parts maker Ficosa International (notified Feb. 10/deadline March 17/simplified)

MARCH 18

-- Abellio, the international unit of Dutch state-owned rail company NS, to take control of the ScotRail rail services in Scotland (notified Feb. 11/deadline March 18)

-- British bank Barclays to acquire sole control of Spanish insurer CNP Barclays Vida y Pensiones Compania de Seguros, which is now jointly controlled by Barclays and French insurer CNP Assurances (notified Feb. 11/deadline March 18/simplified)

-- British support services group DCC to buy Esso’s French motorway retail network (notified Feb. 2/deadline March 18/simplified)

APRIL 30

-- French telecoms operator Orange to acquire Spanish provider Jazztel (notified Oct. 16/deadline extended to April 30 from April 24 after the Commission resumed its scrutiny after a four-day halt)

MAY 13

-- Mondelez International Inc and competitor D.E Master Blenders to merge their coffee businesses in new company called Jacobs Douwe Egberts (notified Oct. 27/deadline extended for the third time to May 13 from May 6)

MAY 26

-- U.S. orthopaedic products maker Zimmer Holdings to acquire rival Biomet Inc (notified Aug. 29/deadline May 26 after the companies revised their concessions)

JUNE 30

-- German conglomerate Siemens to purchase U.S. oilfield equipment maker Dresser-Rand Group Inc (notified Jan. 9/deadline extended to June 30 from Feb. 13 after the European Commission opened an in-depth investigation)

JUNE 26

-- PRS for Music Ltd (PRSfM), Foreningen Svenska Tonsattares Internationella Mysikbyra (Stim) and Gesellschaft für musikalische Aufführungs- und mechanische Vervielfältigungsrechte (Gema) to set up a joint venture to administer mechanical and performing rights (notified Nov. 28/deadline extended for the third time to June 26 from May 29)

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.

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. (Compiled by Philip Blenkinsop)

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