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EU mergers and takeovers (Aug 7)

Fri, 07th Aug 2015 11:01

BRUSSELS, Aug 7 (Reuters) - The following are mergers underreview by the European Commission and a brief guide to the EUmerger process:

APPROVALS AND WITHDRAWALS

-- U.S. staffing company ManpowerGroup Inc toacquire German peer 7S Group (approved Aug. 7)

-- Fuel supplier World Fuel Services Corp to acquirebusinesses divested by BP Plc (approved Aug. 7)

-- Spanish energy company Repsol and Mexicanindustrial group Grupo Kuo to expand their jointventure Dynasol (approved Aug. 7)

-- Private equity firm CVC to acquire theatreproducer Stage Entertainment (approved Aug. 7)

-- Investment fund Canada Pension Plan Investment Board(CPPIB) and real estate investment trust Intu Holding S.a.r.l.to indirectly acquire a joint controlling stake in Spanishshopping mall Puerto Venecia Investments SOCIMI S.A. (approvedAug. 7)

NEW LISTINGS

-- Buyout group KKR to acquire majority stake inGerman fibre-optic network operator Deutsche Glasfaser (notifiedAug. 6/deadline Sept. 10/simplified)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

AUG 10

-- Private equity firm Lone Star Fund IX to acquire textilefloor coverings producer Balta (notified July 3/deadline Aug.10/simplified)

AUG 13

-- Swiss bakery products maker Aryzta to acquire49 percent of frozen food retailer Picard Groupe (notified July8/deadline Aug. 13)

AUG 19

-- French companies Groupe In Vivo and Groupe Scael to setup a joint venture (notified July 14/deadline Aug.19/simplified)

AUG 20

-- Dutch building materials distributor PontMeyer, which ispart of Deli Building Supplies B.V., to acquire Dutch holdingcompany DBS (notified July 15/deadline Aug. 20)

AUG 24

-- Volkswagen Financial Services, which is part of Germancarmaker Volkswagen, and Spanish lender Banco BilbaoVizcaya Argentaria to set up a joint venture calledVolkswagen Credit Compania Financiera (notified July17/deadliine Aug. 24/simplified)

-- Funds advised by Apax Partners LLP to acquire onlineretailer RFS (notified July 17/deadline Aug. 24/simplified)

-- Real estate services firm CBRE Group Inc to buyJohnson Controls Inc's workplace solutions business(notified July 17/deadline Aug. 24/simplified)

-- Magyar Telekom, 59 percent owned by DeutscheTelekom, to form a joint venture with Swiss-basedenergy sales and trading group MET Holding AG (notified July17/deadline Aug. 24)

AUG 26

-- Italian confectionery maker Ferrero to purchase Britishchocolate retailer Thornstons (notified July22/deadline Aug. 26/simplified)

-- U.S. drugmaker Perrigo to buy portfolio ofover-the-counter brands form British peer GlaxoSmithKline (notified July 22/deadline Aug. 26)

-- Varo Energy, a joint venture between the world's top oiltrader Vitol and private equity firm Carlyle Group, is expanding its reach in Europe through a merger withDutch-based storage and trading company Argos (notified July 22/deadline Aug. 26)

AUG 28

-- U.S. real estate services provider DTZ to acquire U.S.peer Cushman & Wakefield (notified July 24/deadline Aug. 28)

SEPT 1

-- British engineering company GKN to acquire Dutchcompany Fokker Technologies (notified July 28/deadline Sept.1/simplified)

-- British support services provider DCC Group toacquire French gas company Butagaz from Anglo Dutch oil companyRoyal Dutch Shell (notified July 28/deadline Sept.1/simplified)

-- Archer Daniels Midland Co to acquire starchproducer Eaststarch (notified July 28/deadline Sept.1/simplified)

SEPT 2

-- Anglo-Dutch oil major Royal Dutch Shell toacquire BG Group (notified July 29/deadline Sept. 2)

-- South African paper maker Mondi toacquire some assets from portfolio company Walki (notified July29/deadline Sept. 2)

-- Norwegian telecoms company Telenor and Swedishpeer TeliaSonera to combine their Danish mobilebusinesses (notified Feb. 27/deadline extended to Sept. 2 fromAug. 19 after the companies asked for more time)

SEPT 7

-- Austrian bank Raiffeisen Zentralbank Osterreich to acquire sole control of Austrian pension fund Valida Holding(notified Aug. 3/deadline Sept. 7/simplified)

-- Mahindra World City Developers and Japan'sSumitomo Corp to set up a joint venture (notified Aug.3/deadline Sept. 7/simplified)

SEPT 9

-- German retailer REWE to acquire some travelunits from Swiss travel operator Kuoni Reisen (notifiedAug. 5/deadline Sept. 9/simplified)

SEPT 11

-- U.S. conglomerate General Electric to acquire mostof French engineering group Alstom's power equipmentbusiness (notified Jan. 19/deadline extended for third time toSept. 11 from Aug. 21)

SEPT 18

-- Dutch chipmaker NXP to acquire U.S. peerFreescale (notified July 31, deadline extended to Sept.18 from Sept. 4 after NXP offered concessions)

NOV 25

-- U.S. drinks can maker Ball Corp to acquireBritish rival Rexam Plc (notified June 15/deadlineextended to Nov. 25 from July 20 after Commission openedin-depth investigation)

DEC 8

-- U.S. packages delivery company FedEx to acquireDutch peer TNT (notified July /deadline extended toDec. 8 from Aug. 3 after the European Commission opened anin-depth investigation)

SUSPENDED

-- Oilfield services provider Halliburton to buyrival Baker Hughes in a stock and cash transaction(notified July 23/deadline suspended after the companiesprovided insufficient information)

-- SOCAR, Azerbaijan's state energy company, to buy stakesin Greek natural gas grid operator DESFA from Greek natural gasutility 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 workingdays to 35 working days, to consider either a company's proposedremedies 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 theclearance of uncontroversial first-stage mergers without givingany reason for its decision. Cases may be reclassified asnon-simplified - that is, ordinary first-stage reviews - untilthey are approved. (Compiled by Foo Yun Chee)

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