August 12, 2015 / 3:50 PM / 2 years ago

EU mergers and takeovers (Aug 12)

BRUSSELS, Aug 12 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Real estate services firm CBRE Group Inc to buy Johnson Controls Inc’s workplace solutions business (approved Aug. 12)

NEW LISTINGS

-- BPIFrance and Springwater Capital LLC to acquire joint control of French paper producer Delion France (notified Aug. 10/deadline Sept. 14/simplified)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

AUG 20

-- Dutch building materials distributor PontMeyer, which is part of Deli Building Supplies B.V., to acquire Dutch holding company DBS (notified July 15/deadline Aug. 20)

AUG 24

-- Volkswagen Financial Services, which is part of German carmaker Volkswagen, and Spanish lender Banco Bilbao Vizcaya Argentaria to set up a joint venture called Volkswagen Credit Compania Financiera (notified July 17/deadliine Aug. 24/simplified)

-- Funds advised by Apax Partners LLP to acquire online retailer RFS (notified July 17/deadline Aug. 24/simplified)

-- Magyar Telekom, 59 percent owned by Deutsche Telekom, to form a joint venture with Swiss-based energy sales and trading group MET Holding AG (notified July 17/deadline Aug. 24)

AUG 26

-- Italian confectionery maker Ferrero to purchase British chocolate retailer Thornstons (notified July 22/deadline Aug. 26/simplified)

-- U.S. drugmaker Perrigo to buy portfolio of over-the-counter brands form British peer GlaxoSmithKline (notified July 22/deadline Aug. 26)

-- Varo Energy, a joint venture between the world’s top oil trader Vitol and private equity firm Carlyle Group , is expanding its reach in Europe through a merger with Dutch-based storage and trading company Argos (notified July 22/ deadline Aug. 26)

AUG 28

-- U.S. real estate services provider DTZ to acquire U.S. peer Cushman & Wakefield (notified July 24/deadline Aug. 28)

SEPT 1

-- British engineering company GKN to acquire Dutch company Fokker Technologies (notified July 28/deadline Sept. 1/simplified)

-- British support services provider DCC Group to acquire French gas company Butagaz from Anglo Dutch oil company Royal Dutch Shell (notified July 28/deadline Sept. 1/simplified)

-- U.S. grains company Archer Daniels Midland Co to acquire starch producer Eaststarch (notified July 28/deadline Sept. 1/simplified)

SEPT 2

-- Anglo-Dutch oil major Royal Dutch Shell to acquire BG Group (notified July 29/deadline Sept. 2)

-- South African paper maker Mondi to acquire some assets from portfolio company Walki (notified July 29/deadline Sept. 2)

-- Norwegian telecoms company Telenor and Swedish peer TeliaSonera to combine their Danish mobile businesses (notified Feb. 27/deadline extended to Sept. 2 from Aug. 19 after the companies asked for more time)

SEPT 4

-- Private equity firms 3i Group and AMP Capital Investors to acquire joint control of offshore emergency and rescue services provider Esvagt (notified July 31/deadline Sept. 4/simplified)

SEPT 7

-- Austrian bank Raiffeisen Zentralbank Osterreich to acquire sole control of Austrian pension fund Valida Holding (notified Aug. 3/deadline Sept. 7/simplified)

-- Mahindra World City Developers and Japan’s Sumitomo Corp to set up a joint venture (notified Aug. 3/deadline Sept. 7/simplified)

SEPT 8

-- Evo Payments International, Raiffeisen Bank Polska and Czech lender Raiffeisenbank to jointly control two new subsidiaries with merchant acquiring and acquiring processing services transferred from the two banks (notified Aug. 4/deadline Sept. 8/simplified)

SEPT 9

-- U.S. grain trader Archer Daniel Midland to acquire Belgian vegetable oil distributor AOR NV (notified Aug. 5/deadline Sept. 9)

-- German retailer REWE to acquire some travel units from Swiss travel operator Kuoni Reisen (notified Aug. 5/deadline Sept. 9/simplified)

SEPT 10

-- Buyout group KKR to acquire majority stake in German fibre-optic network operator Deutsche Glasfaser (notified Aug. 6/deadline Sept. 10/simplified)

SEPT 11

-- U.S. investment firm Apollo Global Management to aquire majority control of Slovenian bank Nova KBM (notified Aug. 7/deadline Sept. 11/simplified)

-- U.S. conglomerate General Electric to acquire most of French engineering group Alstom’s power equipment business (notified Jan. 19/deadline extended for third time to Sept. 11 from Aug. 21)

SEPT 14

-- Naxicap Partners and Fonds Avenir Automobile to acquire joint control of French car parts maker Defta Group (notified Aug. 10/deadline Sept. 14/simplified)

SEPT 18

-- Dutch chipmaker NXP to acquire U.S. peer Freescale (notified July 31, deadline extended to Sept. 18 from Sept. 4 after NXP offered concessions)

NOV 25

-- U.S. drinks can maker Ball Corp to acquire British rival Rexam Plc (notified June 15/deadline extended to Nov. 25 from July 20 after Commission opened in-depth investigation)

DEC 8

-- U.S. packages delivery company FedEx to acquire Dutch peer TNT (notified July /deadline extended to Dec. 8 from Aug. 3 after the European Commission opened an in-depth investigation)

SUSPENDED

-- Oilfield services provider Halliburton to buy rival Baker Hughes in a stock and cash transaction (notified July 23/deadline suspended after the companies provided insufficient information)

-- SOCAR, Azerbaijan’s state energy company, to buy stakes in Greek natural gas grid operator DESFA from Greek natural gas utility DEPA (notified Oct. 1/deadline suspended on Jan. 21)

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. (Compiled by Foo Yun Chee)

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