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EU mergers and takeovers (Feb 29)
2012年2月29日 / 晚上6点14分 / 6 年前

EU mergers and takeovers (Feb 29)

BRUSSELS, Feb 29 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Japanese tractor maker Kubota to acquire Norwegian peer Kverneland (approved Feb. 28)

NEW LISTINGS

-- Japan’s Toshiba Corp to acquire some of Western Digital production equipment (notified Feb. 28/deadline April 3/simplified)

-- A group led by Japan’s Sony which includes Blackstone Group, Abu Dhabi’s Mubadala Development Co., Raine Group and movie mogul David Geffen to acquire record label EMI’s music publishing business (notified Feb. 27/deadline April 2)

-- Danish shipping services company DFDS and Luxembourg-based terminal services operator C.Ro Ports to acquire Swedish terminal services operator Alvsborg (notified Feb. 27/deadline April 2)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

MARCH 13

-- Miner Anglo American to acquire sole control of diamond firm De Beers (notified Feb. 7/deadline March 13/simplified)

MARCH 15

-- Private equity firm Cinven to acquire legal support services company George Topco (notified Feb. 9/deadline March 15)

MARCH 16

-- Japanese investment bank Nomura to acquire Dutch life and property insurer Delta Lloyd’s life insurance and asset management businesses in Germany (notified Feb. 10/deadline March 16/simplified)

-- Commodities and animal feed producer Forfarmers to acquire sole control of Dutch peer Hendrix from Dutch animal and fish feed producer Nutreco Nederland B.V.(notified Feb. 10/deadline March 16)

-- Private equity firm Sun Capital to acquire chemicals company Elix (notified Feb. 10/deadline March 16/simplified)

-- British Airways owner IAG to acquire Lufthansa’s British unit bmi (notified Feb. 10/deadline March 16)

-- Spanish builder Fomento de Construcciones y Contratas and Mitsui Renewable Energy, which is a subsidiary of Japanese conglomerate Mitsui, to acquire joint control of FCC Energia (notified Feb. 10/deadline March 16/simplified)

MARCH 19

-- Japanese trading house Mitsubishi Corp, Austrian consumer goods producer Tchibo (Austria) Holding GmbH, investment vehicle ML Participacoes, investment company Paraguacu Participacoes and investment vehicle Friele Brazil AS to acquire joint control of coffee producer Ipanema (notified Feb. 13/deadline March 19/simplified)

-- German oil trader Mabanaft Marquard & Bahls to acquire German bunker trader and supplier Bominflot (notified Feb. 13/deadline March 19)

MARCH 21

-- Luxembourg-based chemicals distributor Ravago and Dutch peer Barentz Europe to set up a joint venture (notified Feb. 15/deadline March 21)

-- French oil major Total and Russian gas producer Novatek to set up a joint venture (notified Feb. 15/deadline March 21/simplified)

-- Japanese trading house Mitsui & Co Ltd, Sanyo Special Steel Co Ltd and India’s Mahindra Ugine Steel Co Ltd to set up a joint venture to be called Navyug Special Steel (notified Feb. 15/deadline March 21/simplified)

MARCH 22

-- The Carlyle Group, Axel Paeger and investment firm Quadriga Capital IV to acquire joint control of hospital operator AMEOS (notified Feb. 16/deadline March 22/simplified)

-- French building materials group Saint Gobain and Turkish glass manufacturer Trakya which is a subsidiary of Sisecam, to acquire joint control of TRSG Autoglass Holding, which will in turn acquire Russian glass importer Automotive Glass Alliance Rus ZAO (notified Feb. 16/deadline March 22/simplified)

MARCH 23

-- German commodities trader Cremer to acquire a 50 percent stake in German investment firm L Possehl (notified FEb. 17/deadline March 23/simplified)

MARCH 26

-- U.S. conglomerate United Technologies Corp to acquire U.S. aircraft components maker Goodrich (notified Feb. 20/deadline March 26)

MARCH 27

-- Singapore Technologies Engineering to acquire a 50.1 percent stake in aircraft engine washing business EcoServices which is now solely owned by United Technologies Corp (notified Feb. 21/deadline March 27/simplified)

MARCH 28

-- Italian foodservices provider Avenance, a subsidiary of French group Elior, to acquire of French peer Gemeaz Cusin (notified Feb. 22/deadline March 28)

MARCH 30

-- German industrial gases maker Linde to acquire the European homecare business of U.S. peer Air Products and Chemicals (notified Feb. 24/deadline March 30)

APRIL 25

-- German sugar company Suedzucker to acquire a 25 percent stake in British commodities trading company ED&F Man (notified Sept. 19/deadline extended for the second time to April 25 from March 30)

APRIL 26

-- U.S. healthcare company Johnson & Johnson to acquire Swiss medical devices maker Synthes Inc (notified Sept. 27/deadline extended for the second time to April 26 from April 2 after the companies provided concessions)

JUNE 4

-- Compagnia Italiana di Navigazione to acquire Italian state-owned ferry group Tirrenia (notified Nov. 20/deadline extended to June 4 from Jan. 18 after the Commission opens an in-depth probe)

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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