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EU mergers and takeovers (Feb 5)
February 5, 2015 / 11:20 AM / 3 years ago

EU mergers and takeovers (Feb 5)

BRUSSELS, Feb 5 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Ingram Micro, logistics provider of IT and other electronic products, to acquire ANOV Expansion, provider of logistics for mobility and consumer electronics products (approved Jan. 28)

NEW LISTINGS

None

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

FEB 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)

FEB 12

-- European private equity firm CVC Capital Partners to buy Finnish insulation material maker Paroc for enterprise value of some 700 million euros. (notified Jan. 8/deadline Feb. 12)

FEB 13

-- German conglomerate Siemens to purchase U.S. oilfield equipment maker Dresser-Rand Group Inc (notified Jan. 9/deadline Feb. 13)

FEB 16

-- Private equity firm Bain Capital to acquire British brickmaker Ibstock Group from Irish buidling supplies group CRH (notified Jan. 12/deadline Feb. 16/simplified)

FEB 17

-- Private equity firm Apax Partners to acquire Scandinavian IT services provider Evry (notified Jan. 13/deadline Feb. 17/simplified)

FEB 18

-- Canadian asset manager Brookfield Infrastructure Fund to acquire broadcasting and wireless telecom infrastructure platform operator TDF S.A.S.(notified Jan. 14/deadline Feb. 18/simplified)

FEB 19

-- Swiss telecoms provider Swisscom and car leasing company Sixt to set up a joint venture (notified Jan. 15/deadline Feb. 19/simplified)

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)

-- German DIY retailer OBI to acquire a joint venture led by Brico Business Cooperation (notified Jan. 19/deadline Feb. 23/simplified)

FEB 25

-- Asset manager The Carlyle Group and private equity firm Warburg Pincus to jointly acquire control of credit rating agency DBRS Holdings (notified Jan. 21/deadline Feb. 25/simplified)

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

-- 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)

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 29

-- 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 to May 29 from Jan. 14 after the Commission opened an in-depth probe)

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)

-- U.S. orthopaedic products maker Zimmer Holdings to acquire rival Biomet Inc (notified Aug. 29/deadline suspended from Dec. 2, 2014, commitments offered on Dec. 3)

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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