June 28, 2013 / 10:41 AM / 4 years ago

EU mergers and takeovers (June 28)

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BRUSSELS, June 28 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

Approvals and Withdrawals

-- Trading house Argos to buy French energy product retailer Etablissements Joseph Wallach S.A.S (approved June 27)

New Listings

-- Private equity fund Cinven to buy German ceramic products maker CeramTtec from U.S. chemicals company Rockwood Holdings (notified June 27/deadline Aug. 1/simplified)

-- Dubai state-owned aluminium producer Dubal Aluminium, which is a subsidiary of the Investment Corp of Dubai, and Abu Dhabi state-owned Emirates Aluminium, which is owned by Mubadala Development Company, to merge (notified June 26/deadline July 31/simplified)

Extensions and Other Changes


First-Stage Reviews by Deadline

July 2

-- U.S. group General Electric Co to buy the aviation business of Italian plane components maker Avio from private equity fund Cinven and Italian defence group Finmeccanica (notified May 13/deadline extended to July 2 from June 18 after GE offered commitments)

July 4

-- Norwegian telecoms provider Telenor to acquire Bulgarian mobile operator Cosmo Bulgaria Mobile EAD and telephony products retailer Germanos Telecom Bulgaria EAD from Greek telecoms company OTE (notified May 30/deadline July 4)

July 5

-- U.S. diversified manufacturer Crane Co to buy U.S. manufacturer of electronic bill acceptors and transaction mechanisms MEI Conlux from private equity firms Bain Capital and Advantage Partners (notified May 31/deadline July 5)

-- Shell to buy some liquified natural gas assets from Spanish oil company Repsol (notified May 31/deadline July 5/simplified)

July 8

-- U.S. medical product maker Baxter International Inc to buy Swedish kidney dialysis product company Gambro (notified June 3/deadline July 8)

July 9

-- Private equity firm KKE to acquire indirect control of U.S. industrial machinery manufacturer Gardner Denver Inc (notified June 4/deadline July 9/simplified)

July 10

-- Private equity firm Bain Capital to acquire sole control of German brakes maker FTE (notified June 5/deadline July 10/simplified)

July 12

-- German agricultural cooperative BayWa to acquire joint control of German grain trading company Bohnhorst Agrarhandel (notified June 7/deadline July 12/simplified)

-- Private equity firm Kohlberg Kravis Roberts to buy waters services supplier South Staffordshire plc (notified June 7/deadline July 12/simplified)

July 15

-- Norwegian maritime classification firm Det Norske Veritas to merge with Hamburg-based peer Germanischer Lloyd (notified June 10/deadline July 15)

July 18

-- Italian gas distributor Snam and Luxembourg investment company GICSI to acquire joint control of French gas network operator Transport et Infrastructure Gaz France S.A (notified June 13/deadline July 18/simplified)

July 19

-- Swiss-based oil trader Vitol to buy one of refiner Phillips 66's British power plant (notified June 14/deadline 19/simplified)

July 22

-- Canadian private equity firm Onex Corp to acquire indirect sole control of U.S. windows and door maker Jeld-Wen (notified June 17/deadline July 22/simplified)

-- Swiss industrial group ABB to buy U.S. solar energy company Power-One Inc (notified June 17/deadline July 22)

July 23

-- US Airways Group and American Airlines to merge (notified June 18/deadline July 23)

July 24

-- German car parts supplier Mahle to increase its majority stake in German peer Behr KG (notified June 19/deadline July 24/simplified)

July 25

-- Carrier Asia, which is a subsididary of United Technologies Corp, and Toshiba Carrier Corporation, which is a joint venture between UTC and Toshiba Corp, to set up an air-conditioning products joint venture in China (notified June 20/deadline July 25/simplified)

-- German insurer Allianz and Canadian investor Borealis to buy Czech gas pipeline operator Net4Gas from Germany's RWE AG (notified June 20/deadline July 25/simplified)

-- German insurer Allianz SE and others to buy RWE AG's Czech gas pipeline operator business Net4Gas (notified June 20/deadline July 25/simplified)

-- Carlyle Group to buy 40 percent of AlpInvest (notified June 20/deadline July 25/simplified)

July 26

-- Private equity firm Blackstone Group to buy property developer Multi Corp (notified June 21/deadline July 26/simplified)

-- Canadian pension funds OMERS and AimCo to acquire joint control of European cinema operator Vue Entertainment International Ltd (notified June 21/deadline July 26)

July 29

-- Investment bank Goldman Sachs and financial services company Gavea Investimentos to acquire joint control of Latin American telecoms services company Cell Site Solutions Cessao de Infraestruturas S.A. (notified June 24/deadline July 29/simplified)

Sept 3

-- Greek carrier Aegean Airlines to buy Olympic Air (notified Feb. 28/deadline extended for the second time to Sept. 3 from April 23 after the Commission opened an in-depth investigation)

Sept 6

-- Swedish refiner Nynas to purchase certain assets from Royal Dutch Shell's Harburg refinery (notified Feb. 19/deadline extended for the second time to Sept. 6 from Aug. 8)

Guide to Eu Merger Process


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.


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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