EU mergers and takeovers (Feb 20)

  • Reuters
  • Stock Market News
EU mergers and takeovers (Feb 20)
Credit: © Reuters.

BRUSSELS, Feb 20 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- A consortium led by China's Anta Sports 2020.HK to acquire Finland's Amer Sports AMEAS.HE (approved Feb. 19)

NEW LISTINGS

-- U.S. aluminum company Novelis NVLXC.UL , which is a unit of India's Hindalco Industries Ltd HALC.NS , to acquire aluminum processor Aleris (notified Feb. 18/deadline March 25)

-- Luxembourg's LetterOne Investment Holdings to acquire supermarket operator DIA (notified Feb. 18/deadline March 25/simplified)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

FEB 20

-- German brewers Radeberger and Veltins to set up a joint venture to distribute and sell their beers (notified Jan. 16/deadline Feb. 20/simplified)

FEB 21

-- Automotive parts manufacturer Financiere SNOP Dunois S.A. to acquire sole control of peer Tower Automotive Holdings Europe (notified Jan. 17/deadline Feb. 21/simplified)

FEB 26

-- German utility RWE RWEG.DE to acquire networks and renewables unit Innogy IGY.DE with the assets to be divided between RWE and E.ON EONGn.DE (notified Jan. 22/deadline Feb. 26)

FEB 28

-- Energy investment holding company LetterOne Holdings and chemical sector stock corporation BASF BASFn.DE to create joint venture combining oil and gas activities (notified Jan. 24/deadline Feb. 28)

MARCH 1

-- Brussels Airport Company to acquire indirect joint control of Airhotel Belgium with Marriot MAR.O (notified Jan. 25/deadline March 1/simplified)

-- French energy group Engie ENGIE.PA , French tyre maker Michelin MICP.PA , the Auvergne-Rhone-Alpes Region and French public sector lender Caisse des Depots et Consignations to set up a joint venture (notified Jan. 25/deadline March 1/simplified)

MARCH 4

-- CVC Capital Partners to acquire sole control of insurer April Group (notified Jan. 28/deadline March 4/simplified)

-- Real estate investor Patron Fund and U.S. hotel chain Marriot MAR.O to acquire joint control of Poland's Sheraton Warsaw Hotel (notified Jan. 28/deadline March 4/simplified)

MARCH 6

-- U.S. aircraft parts maker Spirit Aerosystems Holdings Inc SPR.N to acquire EU-based supplier Asco Industries NV (notified Jan. 30/deadline March 6)

MARCH 7

-- German energy company E.ON EONGn.DE to acquire German peer Innogy's retail and network activities IGY.DE (notified Jan. 31/deadline March 7)

-- U.S. telecoms equipment maker CommScope COMM.O to acquire set-top box maker Arris International Plc ARRS.O (notified Jan. 31/deadline March 7/simplified)

-- Private equity firm The Carlyle Group CG.O to acquire aviation services company StandardAero DAEAEH.UL from buyout firm Veritas Capital (notified Jan. 31/deadline March 7/simplified)

-- Cayman Island-based private equity firm Clayton, Dubilier & Rice Fund X, L.P. to acquire sole control from investment vehicle Cheadle Developments Ltd. over Jersey-based FH Investments Ltd. through a share purchase (notified Jan. 31/deadline March 7/simplified)

MARCH 8

-- Energy producer and provider Total Holdings USA to acquire sole control over oil and natural gas production company Chevron (NYSE: CVX ) Denmark (notified Feb. 1/deadline March 8)

-- Insurer Marsh & McLennan Companies MMC.N to acquire share capital of British peer Jardine Lloyd Thompson Group JLT.L (notified Feb. 1/deadline March 8)

MARCH 11

-- Global aerospace producer, designer and supplier TransDigm Group TDG.N to acquire sole control over manufacturing company Esterline Technologies ESL.N (notified Feb. 4/deadline March 11)

-- DA Agravis Machinery Holding and Danish Agro Machinery Holding to acquire Kesko Group's agrimachinery activities in Finland, Estonia, Latvia and Lithuania from Finnish subsidiary Konekesko Oy (notified Feb. 4/deadline March 11)

MARCH 12

-- UK-based asset manager Intermediate Capital Group ICP.L to acquire control of Grupo Konectanet, S.L. and Konecta Activos Immobiliarios, S.L. and companies controlled by them (notified Feb. 5/deadline March 12/simplified)

-- Swedish investment company Nalka Invest AB to acquire sole control of medical supply distributor OneMed AB (notified Feb. 5/deadline March 12/simplified)

-- On-street parking company Saba Portugal and road infrastructure operator Egis Portugal to acquire joint control of Viseu Car Park Assets (notified Feb. 5/deadline March 12/simplified)

MARCH 13

-- Norway's Kongsberg Gruppen KOG.OL to acquire British aero-engine maker Rolls-Royce's RR.L commercial marine business (notified Feb. 6/deadline March 13/simplified)

-- Mitsubishi Corp. 8058.T and Franz Haniel & Cie. FHANI.UL subsidiary ELG Haniel GmbH to acquire joint control over ELG Carbon Fibre Ltd. by way of purchase of shares (notified Feb. 6/deadline March 13/simplified)

MARCH 15

-- French construction company Vinci SGEF.PA to acquire Britain's Gatwick Airport (notified Feb. 8/deadline March 15/simplified)

-- Investindustrial VI L.P.'s investment subsidiary World Confectionery Group S.a r.l to acquire sole control of Spain's chocolate company Natra S.A. NATR.MC (notified Feb. 8/deadline March 15/simplified)

-- U.S. private equity firm American Securities to acquire property restoration company Belfor Holdings (notified Feb. 8/deadline March 15/simplified)

MARCH 20

-- U.S. private equity firm KKR KKR.N to acquire Spanish food-food restaurant chain Telepizza TPZ.MC (notified Feb. 13/deadline March 20/simplified)

MARCH 21

-- German insurer Allianz ALVG.DE , Canada's Public Sector Pension Investment Board and U.S.-based Greystar Real Estate Partners to acquire joint control over London-based student accommodation property Paul Street East through a share purchase agreement (notified Feb. 14/deadline March 21/simplified)

APRIL 16

-- Steel company Aperam APAM.AS to acquire Netherlands producer of materials from nickel and nickel alloy VDM Metals Holding (notified Oct. 23/deadline extended to April 16 from Nov. 29 after the European Commission opened an in-depth investigation)

APRIL 29

--- Germany's Thyssenkrupp TKAG.DE and India's Tata Steel TISC.NS to set up a steel joint venture (notified Sept. 25/deadline April 29)

MAY 13

-- Electronic and motor manufacturing company Nidec 6594.T to acquire sole control of U.S. white goods maker Whirlpool Corp's WHR.N compressor subsidiary Embraco (notified Oct. 8/deadline May 13/concessions offered Feb. 11)

JUNE 3

-- UK mobile telephony provider Vodafone VOD.L to acquire U.S. Liberty Global's LBTYA.O telecommunications business in the Czech Republic, Germany, Hungary and Romania (notified Oct. 19/deadline June 3)

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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