April 7, 2017 / 4:24 PM / 3 months ago

EU mergers and takeovers (April 7)

6 Min Read

BRUSSELS, April 7 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

Approvals and Withdrawals

-- Twenty-First Century Fox to acquire the rest of European pay-TV company Sky it does not own (approved April 7)

-- Dutch insurer NN Group to acquire Dutch rival Group Delta Lloyd (approved April 7)

New Listings

None

Extensions and Other Changes

None

First-Stage Reviews by Deadline

April 10

-- Danish container shipping company Maersk to acquire German peer Hamburg Sud (notified Feb. 20/deadline extended to April 10 from March 27 after commitments submitted)

April 12

-- U.S. aircraft component maker Rockwell Collins to acquire aircraft interior maker B/E Aerospace (notified March 8/deadline April 12)

-- U.S. car part supplier Lear to acquire Grupo Antolin's automotive seating business (notified March 8/deadline April 12/simplified)

April 19

-- Private equity firm Advent International to acquire biometrics and security business Morpho from French aerospace group Safran (notified Feb. 24/deadline extended to April 19 from March 31 after the companies offered concessions)

-- Britain's Rolls-Royce to acquire the remaining 53.1 percent stake in Spanish aircraft engine and components maker Industria de Turbo Propulsores (ITP) (notified Feb. 24/deadline extended to April 19 from March 31 after the companies offered concessions)

April 24

-- French media company Bollore to acquire control of French company Vivendi (notified March 15/deadline April 24)

-- Bollore Energy, which is part of French group Bollore , and Total Marketing France, which is part of French energy company Total, to set up a joint venture (notified March 15/deadline April 24/simplified)

April 25

-- Private equity firm CVC to acquire Polish retailer Zabka Polska (notified March 16/deadline April 25/simplified)

April 26

-- Investment company Ardian to acquire majority of France's Prosol, an operator of Grand Frais grocery stores (notified March 17/deadline April 26/simplified)

-- Singapore-based tech communications company Broadcom AVGO.O to acquire U.S. networking switches and software maker Brocade (notified March 17/ deadline April 26)

-- Swiss pharmaceutical supplier Lonza Group to acquire U.S. capsule maker Capsugel from private equity firm KKE & Co LP (notified March 17/deadline April 26)

May 2

-- Italian energy company Duferco Energia to acquire a business unit from Italian electricity company Energhe S.p.A. (notified March 22/deadline May 2/simplified)

May 4

-- Private investment firm KKR & Co. to acquire travel company Travelopia Holdings Ltd and Travelopia USA Inc. (notified March 24/ deadline May 4/simplified)

May 5

-- Japan's Panasonic Corporation to acquire Spanish auto parts maker Ficosa International (notified march 27/deadline May 5)

-- Banking services platform Pillarstone to acquire holding company Famar which has activities in the pharmaceutical industry (notified March 27/deadline May 5/simplified)

May 8

-- Swiss car importer Emil Frey France to acquire French car parts distributor PGA Group SAS from German carmaker Volkswagen Group (notified March 28/deadline May 8/simplified)

May 10

-- Toyota Industries Europe to acquire Vive, the parent company of Dutch industrial company Vanderlande Industries Holding B.V (notified March 29/deadline May 10/simplified)

May 12

-- Taiwan's Ennoconn, which is part of electronics maker Foxconn, to increase its stake in Austrian IT group S&T (notified March 31/deadline May 12)

-- French media group Vivendi to acquire de facto sole control of Italy's Telecom Italia (notified March 31/deadline May 12)

-- German car makers BMW, Daimler and Porsche AG and U.S. peer Ford Motor Co to acquire control of a joint venture (notified March 31/deadline May 12/simplified)

-- U.S. chemicals group Riechhold and Black Diamond Capital to acquire Italian polymers maker Polynt which is owned by Italian private equity group Investindustrial (notified March 17/deadline May 12/commitments offered March 17)

May 15

-- Canada Pension Plan Investment Board and Canada's Public Sector Pension Investment Board (PSPIB) to jointly acquire a portfolio of office and retail properties in New Zealand which is now solely controlled by PSPIB (notified April 3/deadline May 15/simplified)

-- Private equity firm Bain Capital to acquire UK company MKM Building Supplies Ltd (notified April 3/deadline May 15/simplified)

-- Private equity firm KKR and Spanish telecoms provider Telefonica tp acquire joint control of Spanish telecoms infrastructure provider Telxius (notified April 3/deadline May 15/simplified)

-- German conglomerate Peter Cremer Holding to acquire 50 percent of Koenig Transportgesellschaft from German logistics company HaGe Logistik GmbH (notified April 3/deadline May 15/simplified)

May 16

-- Volkswagen Financial Services to acquire 50.98 percent of German tank and service cards provide Logpay Transport Services from Logpay Financial Services (notified April 4/deadline May 16/simplified)

-- Finnish pension fund ELO Mutual Pension Insurance Company and Swedish peer Forsta AP-fonden to jointly acquire several Finnish property portfolio (notified April 4/deadline May 16/simplified)

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 Foo Yun Chee)

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