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EU mergers and takeovers (Nov 7)
November 7, 2016 / 4:41 PM / a year ago

EU mergers and takeovers (Nov 7)

BRUSSELS, Nov 7 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Optima Bidco (Jersey) Ltd, the parent of petrol station operator Euro Garages, to acquire petrol station and convenience store operator EFR Group B.V. (approved Nov. 4)

-- French chemicals company Arkema to acquire sealants and adhesives maker Den Braven (approved Nov. 4)

-- Platinum Equity Group to acquire power and infrastructure management products provider Emerson Network Power Business (approved Nov. 4)

NEW LISTINGS

None

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

NOV 9

-- German drugmaker Boehringer Ingelheim to acquire French peer Sanofi’s animal health business (notified Sept. 19/deadline extended to Nov. 9 from Oct. 24 )

NOV 15

-- Buyout firm Carlyle to acquire a minority stake in German clinic chain Schoen Klinik (notified Oct. 7/deadline Nov. 15)

NOV 16

-- French car parts supplier Valeo to acquire German clutch maker FTE Group (notified Oct. 10/deadline Nov. 16)

NOV 17

-- Private equity firm Naxicap to acquire German personnel services provider TimePartner (notified Oct. 11/deadline Nov. 17/simplified)

NOV 18

-- Swiss hotel services provider Kuoni GTA to acquire hotel distribution and destination management provider MTS Globe (notified Oct. 12/deadline Nov. 18)

NOV 21

-- German supermarket chain Metro to acquire French food service delivery company Colruyt France SAS (notified Oct. 13/deadline Nov. 21/simplified)

NOV 22

-- Diamond Offshore Wind Holdings, which is part of Japan’s Mitsubishi Corp, Eneco Holding NV unit Eneco Wind Belgium and Elicio subsidiary and Belgian wind farm producer ELNU to jointly acquire wind farm operator Norther NV (notified Oct. 14/deadline Nov. 22/simplified)

-- U.S. oil services company FMC Technologies to merge with French oil services company Technip (notified Oct. 14/deadline Nov. 22)

-- U.S. software company Microsoft to acquire social network LinkedIn (notified Oct. 14/deadline Nov. 22)

-- French household equipment maker Groupe SEB to acquire German peer WMF from private equity firm KKR (notified Oct. 14/deadline Nov. 22)

NOV 23

-- U.S. medical devices maker Abbott Laboratories to acquire U.S. peer St Jude (notified Oct. 3/deadline extended to Nov. 23 from Nov. 9 after the companies offered concessions)

-- German shipping company Hapag-Lloyd to merge with Kuwait-based United Arab Shipping Co (notified Oct. 3/deadline extended to Nov. 23 from Nov. 9 after the companies offered concessions)

-- French investment firm Ardian to acquire German car parts maker Weber Automotive (notified Oct. 17/deadline Nov. 23/simplified

NOV 25

-- Cinema chain AMC UK, which is a unit of U.S. company AMC Entertainment Holdings Inc, which in turn is owned by China’s Dalian Wanda Group, to acquire Odeon and UCI Cinemas Holdings Ltd from Terra Firma Investments (notified Oct. 19/deadline Nov. 25/simplified)

NOV 29

-- Canada Pension Plan Investment Board and real estate developer Hammerson to acquire joint control of UK shopping centre Grand Central, which is now solely owned by Hammerson (notified Oct. 21/deadline Nov. 29/simplified)

NOV 30

-- Abu Dhabi company International Petroleum Investment Company P.J.S.C. (IPIC) and Mubadala Development Co P.J.S.C. to merge (notified Oct. 24/deadline Nov. 30/simplified)

DEC 2

-- French group Danone to acquire U.S. organic foods producer WhiteWave Foods Co (notified Oct. 26/deadline Dec. 2)

-- U.S. chemicals group Riechhold and Black Diamond Capital to acquire Italian polymers maker Polynt which is owned by Italian private equity group Investindustrial (notified Oct. 26/deadline Dec. 2)

DEC 5

-- ArcelorMittal CLN Distribuzione Italia S.r.l., which is a joint venture between steelmaker ArcelorMittal and the CLN Group to jointly acquire newly set up company Acierplus (notified Oct. 27/deadline Dec. 5/simplified)

DEC 6

-- French state-controlled post office La Poste’s freight delivery services unit Geopost and holding company Corfin 14 to jointly acquire parcel and freight delivery company BRT (notified Oct. 28/deadline Dec. 6/simplified)

DEC 7

-- Dutch private equity firm SHV Holdings N.V. to acquire home and garden building materials producer Deli Home and Garden (notified Oct. 31/deadline Dec. 7/simplified)

DEC 8

-- Chinese aviation and shipping group HNA Group to acquire a stake in Air France-KLM’s catering business Servair (notified Nov. 3/deadline Dec. 8)

FEB 13

-- Deutsche Boerse and the London Stock Exchange plan to merge (notified Aug. 24/deadline extended to March 6 from Feb. 13 after the companies asked for more time)

FEB 23

-- German cement producers Heidelbergcement and Schwenk to jointly acquire Mexican peer Cemex’s Croatian unit (notified Sept. 5/deadline extended to Feb. 23 from Oct. 10 after the European Commission opened an in-depth investigation)

MARCH 15

-- Chinese state-owned company China National Chemical Corp (ChemChina) to acquire Swiss pesticides and seeds group Syngenta (notified Sept. 23/deadline extended to March 15 from Oct. 28 after the European Commission opened an in-depth investigation)

SUSPENDED

-- U.S. chemicals company Dow Chemical to merge with DuPont (notified June 22/deadline suspended on Oct. 13)

-- Azerbaijan’s state energy company SOCAR 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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