July 16, 2012 / 9:53 AM / 5 years ago

EU mergers and takeovers (July 16)

BRUSSELS, July 16 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:


-- U.S. speciality chemicals maker Cytec Industries to acquire British manufacturer Umeco (approved July 16)

-- European aerospace group EADS and Israeli Aerospace Industries to set up a joint venture (approved July 16)


-- Japan’s Mitsubishi Corp. and Mitsubishi Electric Corp. intend to acquire joint control over Colombian elevator and escalator firm Melco de Colombia Ltda, which already has the rights to Mitsubishi technology in the region. (notified July 13/deadline August 20)

-- Dutch public sector consulting firm BMC Investments BV and some units to carry out a debt-for-equity swap, the terms of which amount to granting joint control to ABN AMRO’s AAEC unit and ING’s unit Entero (notified July 9/deadline August 13)

-- Investment fund EQT VI intends to acquire sole control over medical and dental instruments firm BSN medical Acquisition Holding GmbH and BSN medical Netherlands Holding BV and their subsidiaries (notified July 9/deadline August 13)





-- Private equity firm Lion Capital to acquire French eyewear retailer Alain Afflelou (notified June 11/deadline July 16/simplified)


-- Private equity firms L Capital and Paladin Capital Partners to acquire joint control of Italian restaurant developer and operator Cigierre Compagnia Generale Ristorazione (notified June 15/deadline July 20/simplified)

-- U.S. mail delivery company United Parcel Service Inc to acquire Dutch peer TNT Express (notified June 15/deadline July 20)

-- British chip maker ARM Holdings, Amsterdam-based smart card maker Gemalto and German technology firm Giesecke & Devrient to set up a joint venture on mobile security (notified June 15/deadline July 20)


-- French car parts maker Faurecia to acquire French car parts manufacturer Plastal SAS (notified June 18/deadline July 23)

-- U.S. network equipment maker Cisco to acquire TV software developer NDS which is 51 percent owned by private equity fund Permira and the rest by News Corp (notified June 18/deadline July 23)

-- Polish copper miner KGHM and Polish utility Tauron to set up a joint venture to build a gas steam power unit (notified June 18/deadline July 23)


-- Private equity firm Platinum Equity to acquire logistics company Caterpillar Logistics Services (notified June 19/decision July 24/simplified)


-- French conglomerate Lagardere and Bouygues to set up a joint venture (notified June 20/deadline July 25/simplified)

-- Canadian IT services company CGI Group Inc to acquire Dutch rival Logica Plc (notified June 20/deadline July 25/simplified)


-- Spanish lender Banco Santander to purchase Poland’s Kredyt Bank from Belgian bank KBC (notified June 21/deadline July 26/simplified)


-- French insurer CNP Assurances and French bank BNP Paribas to acquire office property in France (notified June 22/deadline July 27)

-- U.S. car parts maker Delphi Automotive Plc to buy FCI Group’s motorized vehicles unit (MVL) which is owned by private equity firm Bain Capital (notified June 22/deadline July 27)

-- Private equity firm Bain to acquire a stake in Japanese TV shopping station Jupiter Shop Channel which is owned by Japanese group Sumitomo (notified June 22/deadline July 27/simplified)


-- German insurer Allianz to buy the property and casualty brokerage-related activities of Gan Eurocourtage, a unit of French peer Groupama (notified June 25/deadline July 30)

-- Belgian steel cord and wire manufacturer Bekaert and Malaysia’s Southern Steel Berhad, which is owned by Hong Leong Corp, to set up a steel manufacturing joint venture (notified June 25/deadline July 30/simplified)


-- Russian crude producer Lukoil to increase its stake in Italy-based Isab refinery (notified June 26/deadline July 31/simplified)


-- Swiss-based trading house Gunvor to acquire refiner Petroplus’s oil plant in Germany (notified July 2/deadline Aug. 6/simplified)


-- Austrian lender Raiffeisen Bank International to buy a majority stake in Polbank from Greek lender EFG Eurobank (notified July 4/deadline Aug. 8/simplified)


-- Hotel real estate investment firm HHR Euro CV and hotel group Starwood Hotels & Resorts Worldwide Inc to acquire joint control of German hotel Le Meridien Nuremberg (notified July 5/deadline Aug. 9/simplified)

-- Investment bank Goldman Sachs and investor William C Young to acquire joint control of plastic products manufacturer Plastipak Holding (notified July 5/deadline Aug. 9/simplified)

-- Japanese trading house Mitsubishi Corp and Japanese electronics company Mitsubishi Electric Corp to acquire joint control of Mitsubishi Elevator Singapore Co. Ltd (notified July 5/deadline Aug. 9/simplified)

AUG 13

-- Swedish private equity investor EQT to buy German bandage and plaster cast maker BSN Medical (notified July 9/deadline Aug. 13)

AUG 31

-- U.S. conglomerate United Technologies Corp to acquire U.S. aircraft components maker Goodrich (notified Feb. 20/deadline extended for the second time to Aug. 31 from Aug. 9/companies offered commitments June 11)


-- Vivendi’s Universal Music Group to buy British record label EMI’s recorded music unit from Citigroup Inc (notified Feb. 17/deadline extended for the second time to Sept. 6 from Aug. 8 after the Commission asked for more time)


-- Telefonica UK and Vodafone UK to set up a joint venture providing mobile commerce services (notified March 6/deadline extended for the second time to Sept. 19 from Aug. 27 after the companies requested an extension)

OCT 24

-- Finnish group Outokumpu to acquire German group ThyssenKrupp’s Inoxum stainless steel unit (notified April 10/deadline extended for the second time to Oct. 24 from Sept. 26 after the companies asked for more time)


-- Hong Kong’s Hutchison 3G, which is part of Hutchison Whampoa, to acquire telecoms operator Orange Austria from France Telecom (notified May 7/deadline extended to Nov. 6 from June 29 after the EU Commission opens an in-depth probe)



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. (Editing by Foo Yun Chee)

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