May 23, 2018 / 6:05 PM / a month ago

EU mergers and takeovers (May 23)

BRUSSELS, May 23 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

— U.S. agricultural merchant Archer Daniels Midland and agricultural trading house Cargill to set up a joint venture in Egypt (approved May 18)

— Global asset manager The Carlyle Group to acquire Accolade Wines Holdings Australia and Accolade Wines Holdings Europe (approved May 16)

— Asset management firms Avenue Capital, Pemberton and private equity firm Permira to jointly acquire luggage bags maker Delsey (approved May 15)

NEW LISTINGS

— Private equity firm Permira to acquire tech software company Exclusive Group (notified May 22/deadline June 26/simplified)

— German companies Thyssen Alfa and Max Aicher Recycling to acquire joint control of Noris Metallrecycling (notified May 22/deadline June 26/simplified)

— Chinese car parts maker Beijing Automotive Group’s subsidiary BHAP and Spanish peer Gestamp Automocion to set up a joint venture (notified May 18/deadline June 26/simplified)

— U.S. private equity firms HPS Investment Partners and Madison Dearborn Partners to acquire joint control of UK risk management services provider Professional Fee Protection Ltd (notified May 18/deadline June 25/simplified)

— T-Mobile Austria, which is a unit of German telecoms company Deutsche Telekom, to acquire UPC Austria, which is a subsidiary of cable operator UPC (notified May 18/deadline June 25)

— UK infrastructure management company AMP Capital and Spanish airport infrastructure management company Aena Internacional to jointly acquire Luton Airport (notified May 15/deadline June 20/simplified)

— Oaktree Capital Group and Spanish real estate holding company Bitarte, which is a unit of Spanish bank Banco de Sabadell, to set up a joint venture (notified May 14/deadline June 19/simplified)

— Private equity firms HG Capital and TA Associates to acquire joint control of software company Access Group, which is now solely controlled by TA (notified May 8/deadline June 18/simplified)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

MAY 23

— British paper company Mondi to acquire Finnish corrugated case materials maker Powerflute (notified April 11/deadline May 23)

MAY 28

— U.S coatings maker Axalta Coating Systems to acquire wire enamel manufacturer IVA’s European and Chinese operations (notified April 16/deadline May 28)

MAY 30

— U.S. cable company Liberty Global to acquire Dutch peer Ziggo (notified April 4/deadline extended to May 30 from May 15 after Liberty Global offered concessions)

— Global asset management company Carlyle and U.S. investment company TA Associates to jointly acquire sales marketing company Discoverorg which is now solely controlled by TA Associates (notified April 18/deadline May 30/simplified)

MAY 31

— Swedish bank Skandinaviska Enskilda Banken AB (SEB) to acquire lamp maker Aura Light International AB (notified April 19/deadline May 31/simplified)

— Private equity firm Advent International to acquire British electronics and technnology company Laird (notified April 19/deadline May 31/simplified)

JUNE 1

— Swiss engineering company ABB to acquire General Electric’s industrial solutions business (notified April 20/deadline June 1)

JUNE 4

— Japanese chemicals company Kuraray, Thai petrochemicals group PTT Global Chemical Public Company and Japan’s Sumitomo Corp to set up a joint venture (notified April 23/deadline June 4/simplified)

JUNE 5

— Canadian pension fund OTPP and asset management company Carlyle Group to jointly acquire French campsite operator European Camping Group, which is now solely controlled by Carlyle Group (notified April 24/deadline June 5/simplified)

— French prepaid meal voucher and card provider Edenred to increase its stake in fuel cards issuer UTA (notified April 24/deadline June 5/simplified)

JUNE 6

— UK private equity group 3i Group Plc to acquire a 35 percent stake in ferry operator Scandlines after selling the company to infrastructure funds First State Investments and Hermes Investment Management (notified April 25/deadline June 6/simplified)

— Japanese electronics company Alps Electric Co to acquire Japanese car infotainment systems maker Alpine Electronics (notified April 25/deadline June 6/simplified)

JUNE 7

— German power grid makers Stadtwerke Olching and Bayernwerk Net to set up two joint ventures (notified April 26/deadline June 7/simplified)

JUNE 8

— Private equity firm One Equity Partners to acquire packaging company Walki Holding (notified April 27/deadline June 8/simplified)

JUNE 11

— Investment firm HPS Investment Partners and Madison Dearborn Partners to acquire joint control of UK insurance broker Capita Specialist Insurance Soluions Ld (notified April 30/deadline June 11/simplified)

— U.S. insurer American International Group to acquire Bermuda-based reinsurer Validus Holdings Ltd (notified April 30/deadline June 11/simplified)

JUNE 12

— Deutsche Telekom to acquire Swedish peer Tele2’s Dutch unit and merge it with its Dutch business T-Mobile Nederland (notified May 2/deadline June 12)

JUNE 13

— Private equity firm Rhone Capital LLC and founders of swimming pool equipment maker Fluidra to acquire joint control of the merged Fluidra and its peer Zodiac Holdco (notified May 3/deadline June 13)

JUNE 14

— Private equity funds Altor Funds to acquire Swedish packaging company Trioplast Idustrier (notified May 4/deadline June 14/simplified)

— Private equity firm AEA Investors and investment firm British Columbia Investment Management Corp to acquire joint control of window coverings maker SIWF Holdings Inc (Springs) (notified May 4/deadline June 14/simplified)

— Private equity firm Platinum Equity to acquire U.S. pharmaceutical company Johnson & Johnson’s blood glucose monitoring business LifeScan (notified May 4/deadline June 14/simplified)

— U.S. real estate investment company Kennedy Wilson and French insurer Axa to set up a joint venture (notified May 4/deadline June 14/simplified)

JUNE 15

— U.S. tyre maker Goodyear and Japanese peer Bridgestone to acquire joint control of joint venture Tirehub, which will combine the U.S. tyre wholesale distribution businesses of both companies (notified May 7/deadline June 15/simplified)

— Finnish utility Fortum to acquire a controlling stake in German peer Uniper from German energy company E.ON (notified May 7/deadline June 15)

— U.S. cable operator Comcast’s to acquire British pay-TV company Sky (notified May 7/deadline June 15)

JUNE 12

— South African chemicals company Tronox to acquire the titanium dioxide business of Cristal, a subsidiary of Saudi Arabia’s Tasnee (notified Nov. 15/deadline extended to June 12 from June 7)

AUG 9

— German industrial gases group Linde to merge with U.S. peer Praxair (notified Jan. 12/ deadline extended to Aug. 9)

SEPT 4

— iPhone maker Apple to acquire UK music streaming service Shazam (notified March 14/deadline extended to Sept. 4 from April 23 after the European Commission opened an in-depth investigation)

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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