EU mergers and takeovers (Jan 5)

Published 05-01-2016, 03:00 pm
Updated 05-01-2016, 03:10 pm
© Reuters.  EU mergers and takeovers (Jan 5)

BRUSSELS, Jan 5 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

NEW LISTINGS

-- Indian IT services company HCL Technologies HCLT.NS to acquire Swedish automaker Volvo's VOLVb.ST external IT business

-- Pension funds USS Nero Limited of Britain, OPSEU Pension Plan Trust Fund of Canada and PGGM N.V. of the Netherlands to acquire Spanish infrastructure firm Global Vía Infraestructuras from Bankia BKT.MC and FCC FCC.MC (notified on Jan. 4/deadline Feb. 8)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

JAN 11

-- Italian state-owned investment fund Fondon Strategico Italiano to acquire a stake in Italian oil contractor Saipem SPMI.MI from state-controlled oil company Eni ENI.MI (notified Nov. 26/deadline Jan. 11/simplified)

-- Japan's Sumitomo Corp 8053.T and Sumitomo Mitsui Banking Corp 8316.T acquire joint control of Indonesian companies PT Summit Oto Finance and PT Oto Multiartha, which are currently subsidiaries of Sumitomo Corp (notified Nov. 26/deadline Jan. 11/simplified)

-- Danish logistics group DSV A/S DSV.CO to acquire UTi Worldwide Inc UTIW.O , incorporated under laws of British Virgin Islands (notified Nov. 26/deadline Jan. 11/simplified)

JAN 12

-- U.S. conglomerate Berkshire Hathaway (N:BRKa) BRKa.N to acquire U.S. aerospace parts maker Precision Castparts PCP.N (notified Nov. 27/deadline Jan. 12)

-- Oilfield services provider Halliburton (N:HAL) HAL.N to buy rival Baker Hughes BHI.N in a stock and cash transaction (notified Nov. 27/deadline Jan. 12)

-- Goldman Sachs (N:GS) GS.N and the Wellcome Trust plan to form a joint venture combining their student accommodation businesses in Britain (notified Nov. 27/deadline Jan. 12/simplified)

JAN 13

-- U.S. packages delivery company FedEx (N: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)

-- U.S. private equity firm Thomas H. Lee Partners and investment bank Goldman Sachs GS.N to jointly acquire U.S. facility management company GCA Service Group from Blackstone (N:BX) Group BX.N (notified Nov. 30/deadline Jan. 13/simplified)

JAN 14

-- Private equity firms Triton and KKR KKR.N to jointly set up a joint venture (notified Dec. 1/deadline Jan. 14/simplified)

-- TDR Capital investment funds taking joint control of British fuel station operator Euro Garages (notified Dec. 1/deadline Jan. 14)

JAN 19

-- French IT services firm Atos ATOS.PA to acquire communications firm Unify (notified Dec 4/deadline Jan. 19/simplified)

-- Saudi Aramco SDABO.UL to acquire Lanxess 's LXSG.DE 50 percent stake in the world's largest synthetic rubber business (notified Dec 4/deadline Jan. 19/simplified)

-- Panalpina PWTN.S to acquire majority of shares in Airflo, an airfreight forwarder specialising in perishables.(notified Dec 4/deadline Jan. 19/simplified)

-- Spanish travel technology company Amadeus AMA.MC to acquire airline technology services Navitaire which is a subsidiary of Accenture Plc ACN.N (notified Dec. 4/deadline Jan. 19)

-- German industrial products maker Freudenberg and Japanese chemical industry group Toray Industries 3402.T to acquire join control of industrial material maker Japan Vilene Co (notified Dec. 4/deadline Jan. 19/simplified)

JAN 20

-- Creation of a joint venture between Lov Group Invest SAS and De Agostini for the production and distribution of content for television and multimedia platforms (notified Dec 7/deadline Jan. 20)

JAN 21

-- Lone Star Fund IX to acquire British fuel service station operator MRH Ltd (notified Dec. 8/deadline Jan. 21/simplified)

JAN 22

-- Investment bank Goldman Sachs GS.N and private equity firm Astorg Asset Management to jointly acquire French drugmaker HRA Pharma IPO-LABOR.PA (notified Dec. 9/deadline Jan. 22/simplified)

-- Japan's Mitsubishi Heavy Industries 7011.T to acquire Japanese forklift maker Unicarriers Holdings (notified Dec. 9/deadline Jan. 22/simplified)

-- U.S. drinks can maker Ball Corp (N:BLL) BLL.N to acquire British rival Rexam Plc REX.L (notified June 15/deadline extended for the third time to Jan 22 from Dec. 23 after companies submitted commitments)

JAN 25

-- German wind turbine maker Nordex NDXG.DE to acquire Spanish firm Acciona's ANA.MC wind power business (notified Dec. 10/deadline Jan. 25/simplified)

JAN 26

-- Belgian insurer Ageas AGES.BR to acquire French insurer Axa 's AXAF.PA Portuguese operations (notified Dec. 11/deadline Jan. 26/simplified)

JAN 29

-- Steelmaker ArcelorMittal ISPA.AS and a group made up of Banco Bilbao Vizcaya Argentaria BBVA.MC , Banco de Sabadell SABE.MC , Banco Santander SAN.MC , Banco Popular Espanol POP.MC , Bankia BKIA.MC , Caixabank CABK.MC , Bankinter caja BKT.MC , Caja Rural de Navarra CARUN.UL and Kutxabank BKGDT.UL to jointly acquire steel tube maker Grupo Condesa (notified Dec. 16/deadline Jan. 29)

FEB 1

-- Canadian fund CDPQ to acquire 30 percent stake in Bombardier's BBDb.TO rail transportation business for $1.5 billion (notified Dec. 17/deadline Feb. 1)

FEB 2

-- Investment fund CVC Capital Partners Ltd CVC.UL to buy 40 percent stake in motorway services provider Moto with UK private sector pension fund USS (notified Dec. 18/deadline Feb. 2/simplified)

-- Canada's Alimentation Couche Tard to acquire Topaz Energy Group Limited (notified Dec. 18/deadline Feb. 2/simplified)

-- Spain's Red Electrica Corporacion's Chilean subsidiary and Engie ENGIE.PA to take joint control of TEN (notified Dec. 18/deadline Feb. 2/simplified)

-- Dutch provider of temporary employment services Randstad RAND.AS to acquire Sweden's Proffice PROEb.ST (notified Dec. 18/deadline Feb. 2/simplified)

FEB 4

-- U.S.-based Computer developer Western Digital to acquire outstanding shares of SanDisk, designer of data storage products. (notified on Dec. 22/deadline Feb. 4)

-- Mannai Corporation to buy majority stake in France-based provider of information technology Gfi Informatique GFIP.PA from Apax Partners, LLP and Boussard & Gavaudan Holding Limited BGHLC.AS (notified on Dec. 22/deadline Feb. 4/simplified)

-- Formation of Chinese metal producing and distributing joint venture between Gonvarri Corporacion Financiera, part of Spain's Acek Desarollo y Gestion Industrial, and Dongguan Summit Metal Products Co, part of a Japanese group headed by Sumitomo Corp 8053.T (notified on Dec. 22/deadline Feb. 4/simplified)

FEB 5

-- Oilfield services company Schlumberger to buy equipment maker Cameron International (notified on Dec. 23/deadline Feb. 5)

FEB 8

-- Indian IT services company HCL Technologies HCLT.NS to acquire Swedish automaker Volvo's VOLVb.ST external IT business (notified on Jan. 4/deadline Feb. 8/simplified)

-- Pension funds USS Nero Limited of Britain, OPSEU Pension Plan Trust Fund of Canada and PGGM N.V. of the Netherlands to acquire Spanish infrastructure firm Global Vía Infraestructuras from Bankia BKT.MC and FCC FCC.MC (notified on Jan. 4/deadline Feb. 8)

MARCH 3

-- 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 extended to March 17 from March 3)

MARCH 9

-- U.S. office supplier Staples SPLS.O to acquire U.S. rival Office Depot ODP.O (notified Aug. 21/deadline extended for the third time to March 9 from March 2 after the companies asked for more time)

APRIL 22

-- Hutchison Whampoa 0001.HK to acquire Telefonica 's TEF.MC O2 UK subsidiary (notified Sept. 11/deadline extended for the fifth time to April 22 from April 18)

SUSPENDED

-- 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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