July 7, 2017 / 2:45 PM / 6 months ago

EU mergers and takeovers (July 7)

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


-- French car distributors PGA Group and Groupe Bernard to set up a joint venture (approved July 6)

-- Fund management companies Deutsche Alternative Asset Management (Global) Ltd, InfraVia and Finanziaria Internazionale Holding S.p.A (FIH) to jointly acquire FIH subsidiary Agora Investimenti S.p.A which has airport management activities (approved July 6)

-- Dutch state owned gas operator Gasunie, Dutch storage tank operator Vopak and German gas and chemicals storage company Oiltanking which is controlled by German joint stock company Marquard & Bahls AG to set up a joint venture (approved July 6)

-- U.S. engine maker Cummins and U.S. industrial conglomerate Eaton Corp to set up a joint venture for automated transmissions for heavy and medium duty commercial vehicles (approved July 4)


-- Swiss vending services provider Selecta, which is controlled by private equity firm KKR, to acquire Dutch peer chPelican Rouge (notified July 5/deadline Aug. 10)

-- Intervias, which is the holding company of fuel station operator Euro Garages Ltd, to acquire a business unit from Italy fuel station operator Esso Italiana (notified July 3/deadline Aug. 8/simplified)


-- U.S. pesticide maker FMC to acquire U.S. chemicals company DuPont’s crop protection business (notified June 8/deadline extended to July 28 from July 13 after FMC offered concessions)

-- U.S. chemicals company DuPont to acquire U.S. pesticide maker FMC’s health and nutrition business (notified June 7/deadline extended to July 27 from July 12 after DuPont offered concessions)



-- Japanese conglomerate Itochu, Japanese printing company Toppan Printing and Thailand’s Thung Hua Sinn to jointly acquire plastic bag packaging company TPN Food Packaging (notified June 12/deadline July 17/simplified)

-- Canada Pension Plan Investment Board (CPPIB) and British Telecom Pension Scheme to jointly acquire Milton Park business park (notified June 12/deadline July 17/simplified)

-- U.S. travel search site The Priceline Group to acquire U.S. peer Momondo Group (notified June 12/deadline July 17)

-- U.S. private equity firm Lone Star to acquire Portuguese bank Novo Banco (notified June 12/deadline July 17/simplified)


-- UK property developer Segro plc and Public Sector Pension Investment Board (PSPIB) to jointly acquire a plot of land (notified June 13/deadline July 18/simplified)


-- French utility group Suez SA to acquire U.S. conglomerate General Electric’s water and process technologies business (notified June 14/deadline July 19)


-- Private equity firm Blackstone Group to acquire Finnish real estate investment company Sponda (notified June 15/deadline July 20/simplified)

-- Lithuanian mobile network operator Bite Lietuva, Swedish mobile operator Tele2 and Sweden’s Telia to set up a joint venture (notified June 15/deadline July 20)


-- German brake systems maker Knorr-Bremse to acquire Swedish peer Haldex (notified June 1/deadline extended to July 24 from July 7 after Knorr-Bremse offered concessions)

-- KPS Capital Partners to acquire U.S. car parts maker DexKo Global (notified June 16/deadline July 24/simplified)

-- Australian global investment firm IFM and port builder and concessions operator OHL to acquire joint control of toll road and airport operator OHL Mexico (notified June 16/deadline July 24/simplified)

-- Megatrends which is a unit of investment fund European Cities Fund, and British real estate investment fund Intu Properties Plc to jointly acquire Spain’s Xanadu Retail and Leisure (notified June 16/deadline July 24/simplified)


-- Swedish carmaker Volvo to acquire Swedish car rental company First Rent A Car AB (notified June 20/deadline July 26)

-- British asset manager Intermediate Capital Group to acquire nursing home operator Domusvi Group (notified June 20/deadline July 26/simplified)

-- Anglo-Swiss chemicals company Ineos to acquire British oil company BP’s Forties Pipeline System (notified June 20/deadline July 26/simplified)

-- Universities Superannuation Scheme Limited (USSL) and U.S. bank Goldman Sachs to acquire joint control of Spanish energy company Redexis Gas (notified June 20/deadline July 26/simplified)

-- German conglomerate Harng Central Department Store Ltd and prOperty developer Signa Prime to acquire joint control of German property developer Berlin, Passauer Straße 1-3 Immobilien GmbH & Co. KG (notified June 20/deadline July 26/simplified)


-- Shipping terminal operator PSA International Pte Ltd and Terminal Investment Ltd Sarl, which is indirectly and jointly controlled by Swiss container line MSC (Mediterraneann Shipping Company), to jointly acquire Belgian container terminal operator PSA DGD (notified June 23/deadline July 31)


-- Property developer Bouygues Immobilier and hotel group Accor to jointly acquire French company Nextdoor which is now solely controlled by Bouygues Immobilier (notified June 26/deadline Aug. 1/simplified)


-- Czech energy company EPH to acquire two UK gas-fired power plants from British energy supplier Centrica (notified June 27/deadline Aug. 2/simplified)


-- U.S. industrial company Deere & Co to acquire German road construction company Wirtgen (notified June 28/deadline Aug. 3)


-- Japan’s Toray Industries and Japanese industrial conglomerate Mitsui Co Ltd to jointly acquire Japanese fragrance and chemicals maker Soda Aromatic Co Ltd (notified June 29/deadline Aug. 4/simplified)

-- Private equity firms CCMP Capital and MSD Aqua Partners to jointly acquire swimming pool equipment maker Hayward Industries (notified June 29/deadline Aug. 4/simplified)

-- Credit rating agency Moody’s to acquire Dutch business intelligence statistics provider Bureau van Dijk Electronic Publishing (notified June 29/deadline Aug. 4/simplified)

-- UK property developer Segro plc and Canada’s Public Sector Pension Investment Board (PSPIB) to jointly acquire French logistics asset Morgane Portfolio (notified June 29/deadline Aug. 4/simplified)

-- Austrian construction company WIG Wietersdorfer Holding GmbH and Saudi Arabian Amiantit to set up a joint venture (notified June 29/deadline Aug. 4)


-- French luxury goods group LVMH and Italian spectacles maker Marcolin to set up a joint venture (notified June 30/deadline Aug. 7/simplified)

-- German industrial group Bayer to acquire U.S. seeds company Monsanto (notified June 30/deadline Aug. 7)


-- U.S. smartphone chipmaker Qualcomm to acquire Dutch company NXP Semiconductors NV (notified April 28/deadline suspended on June 28 after the companies failed to provide relevant information)



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. (Reporting by Foo Yun Chee)

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