May 4, 2018 / 6:21 PM / a year ago

EU mergers and takeovers (May 4)

(Adds approved mergers)

BRUSSELS, May 4 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:


— U.S. aerospace and industrial company United Technologies Corp to acquire avionics maker Rockwell Collins (approved May 4)

— U.S. auto parts retailer LKQ Corp to acquire German peer Stahlgruber (non-Czech part approved, Czech part referred to Czech competition authority)


— 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)


— 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)



— Italian cable company Prysmian to acquire U.S. peer General Cable (notified March 28/deadline May 8)

MAY 23

— Apollo Capital Management to acquire Cyprus Cooperative Bank (notified April 11/deadline May 23/simplified)

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

— Luxembourg-based steelmaker ArcelorMittal to acquire Italian steel plant (notified Sept. 21/deadline extended to May 23 after ArcelorMittal offered concessions)

MAY 25

— Global asset manager The Carlyle Group to acquire Accolade Wines Holdings Australia and Accolade Wines Holdings Europe (notified April 13/deadline May 25/simplified)

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)

— U.S. agricultural merchant Archer Daniels Midland and agricultural trading house Cargill to set up a joint venture in Egypt (notified April 16/deadline May 28/simplified)

MAY 29

— Asset management firms Avenue Capital, Pemberton and private equity firm Permira to jointly acquire luggage bags maker Delsey (notified April 17/deadline May 29/simplified)

MAY 30

— 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)


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


— 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)


— 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)


— 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)


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


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


— 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)


— 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)


— 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 21 from June 7)


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


— 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)


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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