February 26, 2019 / 4:20 PM / 3 months ago

EU mergers and takeovers (Feb 26)

BRUSSELS, Feb 26 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

— German utility RWE to acquire E.ON’s networks and renewables unit (approved Feb. 26)

NEW LISTINGS

— UK asset management company Segro and Canada’s Public Sector Pension Investment Board to jointly acquire a logistics site in Poland (notified Feb. 25/deadline April 1/simplified)

— UK asset management company Segro and Canada’s Public Sector Pension Investment Board to jointly acquire a logistics site in France (notified Feb. 25/deadline April 1/simplified)

— Financial services company Great-West Lifeco’s Irish Life and Clyde Property Fund and UK property developer Hammerson to jointly acquire a shopping centre in Dublin, Ireland (notified Feb. 22/deadline March 29)

— Apollo Management to acquire plastic product maker RPC Group (notified Feb. 21/deadline March 28/simplified)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

FEB 28

— Energy investment holding company LetterOne Holdings and chemical sector stock corporation BASF to create joint venture combining oil and gas activities (notified Jan. 24/deadline Feb. 28)

MARCH 6

— U.S. aircraft parts maker Spirit Aerosystems Holdings Inc to acquire EU-based supplier Asco Industries NV (notified Jan. 30/deadline March 6)

MARCH 7

— German energy company E.ON to acquire German peer Innogy’s retail and network activities (notified Jan. 31/deadline March 7)

— Private equity firm The Carlyle Group to acquire aviation services company StandardAero from buyout firm Veritas Capital (notified Jan. 31/deadline March 7/simplified)

— Cayman Island-based private equity firm Clayton, Dubilier & Rice Fund X, L.P. to acquire sole control from investment vehicle Cheadle Developments Ltd. over Jersey-based FH Investments Ltd. through a share purchase (notified Jan. 31/deadline March 7/simplified)

MARCH 8

— Energy producer and provider Total Holdings USA to acquire sole control over oil and natural gas production company Chevron Denmark (notified Feb. 1/deadline March 8)

— Insurer Marsh & McLennan Companies to acquire share capital of British peer Jardine Lloyd Thompson Group (notified Feb. 1/deadline March 8)

MARCH 11

— Global aerospace producer, designer and supplier TransDigm Group to acquire sole control over manufacturing company Esterline Technologies (notified Feb. 4/deadline March 11)

— DA Agravis Machinery Holding and Danish Agro Machinery Holding to acquire Kesko Group’s agrimachinery activities in Finland, Estonia, Latvia and Lithuania from Finnish subsidiary Konekesko Oy (notified Feb. 4/deadline March 11)

MARCH 12

— UK-based asset manager Intermediate Capital Group to acquire control of Grupo Konectanet, S.L. and Konecta Activos Immobiliarios, S.L. and companies controlled by them (notified Feb. 5/deadline March 12/simplified) — Swedish investment company Nalka Invest AB to acquire sole control of medical supply distributor OneMed AB (notified Feb. 5/deadline March 12/simplified)

— On-street parking company Saba Portugal and road infrastructure operator Egis Portugal to acquire joint control of Viseu Car Park Assets (notified Feb. 5/deadline March 12/simplified)

MARCH 13

— Norway’s Kongsberg Gruppen to acquire British aero-engine maker Rolls-Royce’s commercial marine business (notified Feb. 6/deadline March 13/simplified)

— Mitsubishi Corp. and Franz Haniel & Cie. subsidiary ELG Haniel GmbH to acquire joint control over ELG Carbon Fibre Ltd. by way of purchase of shares (notified Feb. 6/deadline March 13/simplified)

MARCH 15

— French construction company Vinci to acquire Britain’s Gatwick Airport (notified Feb. 8/deadline March 15/simplified)

— Investindustrial VI L.P.’s investment subsidiary World Confectionery Group S.a r.l to acquire sole control of Spain’s chocolate company Natra S.A. (notified Feb. 8/deadline March 15/simplified)

— U.S. private equity firm American Securities to acquire property restoration company Belfor Holdings (notified Feb. 8/deadline March 15/simplified)

MARCH 20

— U.S. private equity firm KKR to acquire Spanish food-food restaurant chain Telepizza (notified Feb. 13/deadline March 20/simplified)

MARCH 21

— German insurer Allianz, Canada’s Public Sector Pension Investment Board and U.S.-based Greystar Real Estate Partners to acquire joint control over London-based student accommodation property Paul Street East through a share purchase agreement (notified Feb. 14/deadline March 21/simplified)

MARCH 25

— U.S. aluminum company Novelis, which is a unit of India’s Hindalco Industries Ltd, to acquire aluminum processor Aleris (notified Feb. 18/deadline March 25)

— Luxembourg’s LetterOne Investment Holdings to acquire supermarket operator DIA (notified Feb. 18/deadline March 25/simplified)

MARCH 26

— France’s Moma Places and Unibal-Rodamco to set up a joint commercial catering venture (notified Feb. 19/deadline March 26/simplified)

MARCH 27

— Swiss chemicals company Sika to acquire French rival Parex from private equity firm CVC Capital Partners (notified Feb. 20/deadline March 27)

— Japan’s CK Holdings Co to acquire Italian car parts maker Magneti Marelli from Italian auto maker Fiat Chrysler Automotives (notified Feb. 20/deadline March 27/simplified)

MARCH 28

— ArcelorMittal and Italy’s CLN Group to acquire joint control over two Italian steel service centers of the Ilva Group (notified Feb. 21/deadline March 28)

— German conglomerate JAB Holding to increase its stake in Coty Inc to 60 percent from 40 percent (notified Feb. 21/deadline March 28/simplified)

— Japanese telecoms provider KDDI Corp and Mitsubishi UFJ Securities Holdings Co Ltd to jointly acquire Japanese online broker Kabu.com (notified Feb. 21/deadline March 28/simplified)

APRIL 16

— Steel company Aperam to acquire Netherlands producer of materials from nickel and nickel alloy VDM Metals Holding (notified Oct. 23/deadline extended to April 16 from Nov. 29 after the European Commission opened an in-depth investigation)

APRIL 29

—- Germany’s Thyssenkrupp and India’s Tata Steel to set up a steel joint venture (notified Sept. 25/deadline April 29)

MAY 20

— Electronic and motor manufacturing company Nidec to acquire sole control of U.S. white goods maker Whirlpool Corp’s compressor subsidiary Embraco (notified Oct. 8/deadline extended to May 20 from May 13)

JUNE 3

— UK mobile telephony provider Vodafone to acquire U.S. Liberty Global’s telecommunications business in the Czech Republic, Germany, Hungary and Romania (notified Oct. 19/deadline June 3)

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 Clare Roth;)

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