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EU mergers and takeovers (Nov 24)
November 24, 2017 / 12:43 PM / 22 days ago

EU mergers and takeovers (Nov 24)

BRUSSELS, Nov 24 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Private equity firms Oaktree Capital Group LLC and Pimco to jointly acquire a portfolio of properties in Poland (approved Nov. 23)

NEW LISTINGS

None

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

DEC 1

-- French oil major Total to acquire Danish shipping company Maersk’s oil and gas business(notified Oct. 25/deadline Dec. 1/simplified)

DEC 4

-- Austrian energy and petrol station company OMV to acquire 40 percent of electric car charging company Smatrics which is owned by hydropower company Verbund and Germany’s Siemens (notified Oct. 26/deadline Dec. 4/simplified)

-- Infrastructure fund DIF and French fund manager Caisse des Depots et Consignations to jointly acquire French broadband network operator ADTIM (notified Oct. 26/deadline Dec. 4/simplified)

DEC 5

-- German travel services provider Der Touristik Deutschland, which is part of German conglomerate REWE , to acquire Czech tourism company Exim (notified Oct. 27/deadline Dec. 5/simplified)

-- China’s COSCO Shipping to acquire Hong Kong’s Orient Overseas International Ltd (OOIL) (notified Oct. 27/deadline Dec. 5)

-- French car rental company Europcar to acquire Spanish peer Goldcar (notified Oct. 27/deadline Dec. 5)

DEC 6

-- Private equity firm EQT to acquire Dutch dental services group Curaeos Holding (notified Oct. 30/deadline Dec. 6/simplified)

-- Deutsche Alternative Asset Management, which is an affiliate of Deutsche Bank, and UK insurer Prudential’s subsidiary M&G Alternatives Investment Management to set up a joint venture (notified Dec. 30/deadline Dec. 6/simplified)

-- Czech state-controlled special purpose vehicle Prisko to acquire Czech coal producer OKD Nastupnicka (notified Oct. 30/deadline Dec. 6)

DEC 7

-- German carrier Lufthansa to acquire some Air Berlin assets (notified Oct. 31/deadline Dec. 7)

DEC 8

-- French insurer Axa and specialist fund Pradera to jointly acquire two Italian properties (notified Nov. 11/deadline Dec. 8/simplified)

-- German air maintenance services provider Lufthansa Technik and and sensor maker Pepperl + Fuchs to set up a joint venture (notified Nov. 3/deadline Dec. 8/simplified)

DEC 12

-- Private equity firm the Carlyle Group to acquire British delivery company and convenience store operator Palmer & Harvey McLane (notified Nov. 7/deadline Dec. 12/simplified)

-- British budget carrier easyJet to acquire parts of German airline Air Berlin (notified Nov. 7/deadline Dec. 12)

DEC 13

-- French bank Credit Agricole’s Italian unit Cariparma to acquire at least 95 percent of three Italian savings banks Caricesena, Carim and Carismi (notified Nov. 8/deadline Dec. 13/simplified)

DEC 15

-- German energy group Innogy and European Energy Exchange (EEX) to set up a joint venture (notified Nov. 10/deadline Dec. 15/simplified)

DEC 18

-- French property developer Fonciere des Regions and Marriott International to acquire joint control of Le Meridien Hotel in Nice (notified Nov. 13/deadline Dec. 18/simplified)

-- German glasswear company Carl Zeiss and Deutsche Telekom to develop smart glasses (notified Nov. 13/deadline Dec. 18/simplified)

-- Japanese engineering company Chiyoda Corp which is a subsidiary of Japan’s Mitsubishi Corp, Portugal’s Energias de Portugal, energy company Trustwind, which is a unit of a joint venture between France’s Engie and Marubeni Corp, Japanese conglomerate Mitsubishi, and Spanish energy company Repsol to set up a joint venture (notified Nov. 13/deadline Dec. 18/simplified)

-- Australian investment bank MacQuarie and German storage services provider Oiltanking to acquire joint control of petrochemical storage operator Oiltanking Odfjell terminal Singapore (notified Nov. 13/deadline Dec. 18/simplified)

DEC 19

-- German car parts supplier ZF subsidiary Zukunft Venture, German bicycle parts maker Gustav Magenwirth, German brakes maker Brake Force One and vehicle driving systems maker Unicorn Energy to set up a joint venture (notified Nov. 14/deadline Dec. 19/simplified)

DEC 20

-- South African chemicals company Tronox to acquire the titanium dioxide business of Cristal, a subsidiary of Saudi Arabia’s Tasnee (notified Nov. 15/deadline Dec. 20)

-- France’s Engie, Omnes Capital and Predica Prevoyance to jointly acquire several wind farms (notified Nov. 15/deadline Dec. 20/simplified)

DEC 21

-- French aerospace group Safran to acquire French seats maker Zodiac Aerospace (notified Nov. 16/deadline Dec. 21)

-- French bank Societe Generale and BNP Paribas to jointly acquire French property developer Powerhouse France (notified Nov. 16/deadline Dec. 21/simplified)

-- Private equity firm CVC to acquire Israeli drugmaker Teva Pharmaceutical Industries’ women’s health business (notified Nov. 16/deadline Dec. 21)

DEC 22

-- Hong Kong conglomerate CK Hutchison’s container terminal operator Hutchison Ports Netherlands B.V. and Dutch stevedoring services provider TMA Holding to acquire joint control of Dutch logistics company TMA Logistics (notified Nov. 17/deadline Dec. 22/simplified)

-- Private equity firms CVC and Providence to acquire joint control of security services provider Skybox (notified Nov. 17/deadline Dec. 22/simplified)

-- Private eqyity firm BC Partners to acquire German ceramics maker CeramTec Holding GmbH (notified Nov. 17/deadline Dec. 22/simplified)

-- Private equity firm Blackstone to acquire Portuguese bank Banco Popular’s real estate business (notified Nov. 17/deadline Dec. 22/simplified)

-- French petroleum product storage and distribution group Rubis Group and Phillips 66 to acquire joint control of Zeller & Cie (notified Nov. 17/deadline Dec. 22)

-- German investment group Porsche Digital GmbH, which is a subsidiary of German carmaker Volkswagen, and German publisher Axel Springer to set up a joint venture (notified Nov. 17/deadline Dec. 22/simplified)

JAN 4

-- Private equity firm EQT Fund Management to acquire German energy company G+E Getec Holding (notified Nov. 21/deadline Jan. 4/simplified)

-- Spanish energy company Companía Espanola de Petroleos, S.A.U. (CEPSA), which is controlled by Abu Dhabi state fund Mubadala Investment Co, to acquire control of Spanish gas company CEPSA Gas Comercializadora (notified Nov. 21/deadline Jan. 4/simplified)

JAN 5

-- U.S. private equity firm Bain Capital to acquire Japanese conglomerate Toshiba Corp’s chip unit (notified Nov. 22/deadline Jan. 5/simplified)

MARCH 5

-- German industrial group Bayer to acquire U.S. seeds company Monsanto (notified June 30/deadline March 5)

MARCH 8

-- Italian eyewear maker Luxottica and French lens manufacturer Essilor to merge (notified Aug. 22/deadline March 8)

MARCH 15

-- U.S. smartphone chipmaker Qualcomm to acquire Dutch company NXP Semiconductors NV (notified April 28/deadline March 15)

MARCH 19

-- U.S. specialty material company Celanese and private equity firm Blackstone to combine their cellulose acetate tow units under a new joint venture (notified Sept. 9/deadline extended to March 19 from March 5)

MARCH 23

-- Luxembourg-based steelmaker ArcelorMittal to acquire Italian steel plant (notified Sept. 21/deadline extended to March 23 from Nov. 13 after ArcelorMittal offered concessions)

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. (Reporting by Foo Yun Chee)

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