EU mergers and takeovers (Sept 14)

  • Reuters
  • Stock Market News
EU mergers and takeovers (Sept 14)
Credit: © Reuters.

BRUSSELS, Sept 14 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Kuwait Investment Authority (KIA) and Spanish energy group Gas Natural GAS.MC to acquire joint control of Global Power Generation (approved Sept. 11)

-- Indian vehicle maker Mahindra & Mahindra MAHM.NS and Japan's Mitsubishi Heavy Industries 7011.T to acquire joint control of Mitsubishi Agricultural Machinery Co. Ltd, which is now solely owned by Mitsubishi Heavy Industeis (approved Sept. 11)

NEW LISTINGS

-- Private equity firms Blackstone (NYSE: BX ) Group and Corsair Capital to jointly acquire U.S. investment management firm First Eagle Management (notified Sept. 11/deadline Oct. 16/simplified)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

SEPT 16

-- Private equity firms Advent International, Bain Capital and Clessidra to jointly acquire Italian banking services company ICBPI (notified Aug. 12/deadline Sept. 16)

-- Chinese state-owned food firms Bright Food Group Co Ltd SHMNGA.UL to acquire Spanish holding company Invermik SA (notified Aug. 12/deadline Sept. 16/simplified)

SEPT 17

-- Buyout group KKR KKR.N to acquire German cutlery and coffee-machine maker WMF WMFWF.PK together with Austrian holding company FIBA (notified Aug.13/deadline Sept. 17)

SEPT 18

-- U.S. distressed investment fund Apollo APO.N to acquire majority stake in steel trader Stemcor (notified Aug. 14/deadline Sept. 18/simplified)

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

SEPT 21

-- Cable telecoms company Liberty Global's LBTYA.O Belgian subsidiary Telenet TNET.BR to buy mobile network operator Base from Dutch group KPN KPN.AS (notified Aug. 17/deadline Sept. 21)

SEPT 24

-- British private equity firm Equistone Partners Europe to acquire German apparel retailer TriStyle Mode (notified Aug. 20/deadline Sep. 24/simplified)

SEPT 25

-- U.S. office supplier Staples SPLS.O to acquire U.S. rival Office Depot ODP.O (notified Aug. 21/deadline Sept. 25)

-- Chinese investment group Fosun 0656.HK to acquire sole control of wealth management group BHF-Kleinwort Benson Group SA BHFKB.BR (notified Aug. 21/deadline Sept. 25/simplified)

SEPT 28

-- Apollo Global Management LLC APO.N to acquire magnetic and battery technologies company OM Group Inc OMG.N (notified Aug. 24/deadline Sept. 28)

SEPT 30

-- Brazilian meat packer JBS SA JBSS3.SA to acquire British company Moy Park, which is a unit of Brzilian rival Marfrig Global Foods SA MRFG3.SA (notified Aug. 26/deadline Sept. 30/simplified)

OCT 1

-- Australian packaging products supplier Amcor AMC.AX and Swiss-based company Sidel, which is part of Swiss-based packager Tetra Laval, to set up a joint venture (notified Aug. 27/deadline Oct. 1/simplified)

-- South African company Barloworld Handling and German farming products supplier BayWa BYWGnx.DE to set up a joint venture in Zambia (notified Aug. 27/deadline Oct. 1/simplified)

OCT 2

-- Private equity firm Providence Equity Partners LLC to acquire British marketing company Chime Communications plc CHW.L (notified Aug. 28/deadline Oct. 2/simplified)

-- Spanish builder Sacyr to acquire a 50 percent stake in Fluor Spain from U.S. engineering group Fluor Corp (NYSE: FLR ) FLR.N (notified Aug. 28/deadline Oct. 2/simplified)

OCT 5

-- German IT services provider Interseroh and Also Deutschland to set up a joint venture (notified Aug. 31/deadline Oct. 5/simplified)

-- Private equity firm Apollo Management to acquire British restaurant operator Casual Dining Group (notified Aug. 31/deadline Oct. 5/simplified)

OCT 7

-- German car parts maker KSPG and China's Huayu Automotive Systems Co Shanghai/People's Republic of China (Hasco) to jointly acquire a business in the Chinese car aluminium casting sector (notified Sept. 2/deadline Oct. 7/simplified)

OCT 9

-- French airports operator Aeroports de Paris ADP.PA and British catering services provider Select Service Partner Group to form a joint venture (notified Sept. 4/deadline Oct. 9/simplified)

-- British real estate private equity firm Benson Elliot Capital Management and U.S. private equity investment firm Walton Street Capital LLC to jointly acquire eight hotels (notified Sept. 4/deadline Oct. 9/simplified)

-- Private equity firm TDR Capital to acquire Dutch car leasing company LeasePlan Corp N.V. (notified Sept. 4/deadline Oct. 9/simplified)

-- British energy company Trailstone to acquire German peer Energy2Market GmbH (notified Sept. 4/deadline Oct. 9/simplified)

OCT 10

-- Private equity firm Permira and Ontario Teachers Pension Plan Board to jointly acquire the GFKL Group and the Lowell Group (notified Sept. 4/deadline Oct. 10/simplified)

OCT 12

-- U.S. investment firm Colony Capital CLNY.N and French insurer Axa to jointly acquire data center operator Groupe Data 4 (notified Sept. 7/deadline Oct. 12/simplified)

OCT 14

-- U.S. chipmaker Intel INTC.O to acquire U.S. peer Altera ALTR.O (notified Sept. 9/deadline Oct. 14)

OCT 16

-- Hutchison Whampoa 0001.HK to acquire Telefonica 's TEF.MC O2 UK subsidiary (notified Sept. 11/deadline Oct 16)

DEC 9

-- U.S. drinks can maker Ball Corp (NYSE: BLL ) BLL.N to acquire British rival Rexam Plc REX.L (notified June 15/deadline extended to Dec. 9 from Nov. 25)

JAN 13

-- U.S. packages delivery company FedEx (NYSE: FDX ) FDX.N to acquire Dutch peer TNT TNTE.AS (notified July /deadline extended to Jan. 13 from Dec. 8 after the companies asked for more time)

JAN 18

-- South African paper maker Mondi MNDJ.J MNDI.L to acquire some assets from portfolio company Walki (notified July 29/deadline extended to Jan. 18 from Sept. 2 after the European Commission opened an in-depth investigation)

SUSPENDED

-- Oilfield services provider Halliburton (NYSE: HAL ) HAL.N to buy rival Baker Hughes BHI.N 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.

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