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EU mergers and takeovers (Feb 5)

Tue, 05th Feb 2013 14:36

BRUSSELS, Feb 5 (Reuters) - The following are mergers underreview by the European Commission and a brief guide to the EUmerger process:

APPROVALS AND WITHDRAWALS

None

NEW LISTINGS

-- Private equity funds Bregal Fund III and Quadriga Capitalto acquire GErman jewellery distributor LR Global Holding GmbH(notified Feb. 1/deadline March 8/simplified)

-- Russian oil major Rosneft to buy half ofAnglo-Russian oil firm TNK-BP from British oil companyBP (notified Feb. 1/deadline March 8)

-- Swiss-based trader Mercuria Energy and Chinese energygroup Sinopec to acquire joint control of tank firm VestaTerminals (notified Jan. 31/deadline March 7/simplified)

-- German insurer Allianz and German car makerVolkswagen's insurance unit VW Financial Services toset up a joint venture (notified Jan. 31/deadline March 7)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

FEB 6

-- Private equity firm Advent International to acquire U.S.specialty chemicals maker Cytec's coating resin business(notified Dec. 21/deadline Feb. 6)

-- Japanese auto parts maker U-Shin to buy Frenchcar parts equipment maker Valeo's car lock unit(notified Dec. 21/deadline Feb. 6)

-- German service company BayWa AG to acquire a 60percent stake in German agricultural wholesaler and retailerBohnhorst Agrarhandel (notified Dec. 21/deadline Feb. 6)

FEB 7

-- Japanese conglomerate Mitsui & Co Ltd andRussian steel producer Severstal to acquire jointcontrol of Russian steel product makerSeverstal-SSC-Vsevolozhsk, which is now soley controlled bySeverstal (notified Jan. 3/deadline Feb. 7/simplified)

FEB 11

-- French financial group PAI Partners to take control ofFrench industrial supplier Industrial Parts Holding(IPH)(notified Jan. 7/deadline Feb. 11)

FEB 18

-- Japanese camera maker Canon to acquire Belgiandocument recognition company Iris (notified Jan.14/deadline Feb. 18)

FEB 20

-- Private equity firm Clayton Dubilier & Rice to acquireBritish consumer goods retailer B&M (notified Jan. 16/deadlineFeb. 20/simplified)

FEB 22

-- Belgian state-owned investment company SFPI to acquire acontrolling stake in Franco-Belgian bank Dexia (notified Jan. 18/deadline Feb. 22)

-- The Turkish subsidiary of German power utility E.ON to buy a 50 percent stake in Turkish power companyEnerijsa, which will give it joint control with Turkey's HaciOmer Sabanci Holdings group (notified Jan. 18/deadline Feb.22/simplified)

-- Japanese engineering company IHI Corp to buy theremaining 49 percent of German car turbo charger maker IHICharging Systems International it does not own from German carmaker Daimler AG (notified Jan. 18/deadline Feb.22/simplified)

-- Private equity firm CVC Capital Partners to buydata information provider Cerved Holding (notified Jan.18/deadline Feb. 22/simplified)

FEB 25

-- Private equity firm Triton to acquire Finnish grocerychain Suomen Lahikauppa from IK Investment Partners (notifiedJan. 21/deadline Feb. 25)

MARCH 4

-- Drugmakers Bristol-Myers Squibb and AstraZeneca to acquire joint control of Amylin Pharmaceuticals(notified Jan. 28/deadline March 4/simplified)

-- Norwegian group Orkla to buy family-controlledfoods group Rieber & Soen (notified Jan. 28/deadlineMarch 4)

MARCH 5

-- U.S. carmaker General Motors to buy someoperations belonging to car financing services provider AllyFinancial (notified Jan. 29/deadline March 5/simplified)

MARCH 6

-- Irish aircraft leasing company Avolon and U.S. bank WellsFargo to set up a joint venture to lease airplanes(notified Jan. 30/deadline March 6/simplified)

-- Ryanair to acquire Aer Lingus (notifiedJuly 24/deadline extended for the fourth time to March 6 fromFeb. 27 after Ryanair offered more commitments)

MARCH 8

-- Austrian investment group B&C Industrieholding GmbH toacquire Austrian aluminium product producer AMAG Austria Metall (notified Feb. 1/deadline March 8/simplified)

-- Investment fund EQT Infrastructure II to take solecontrol of energy producer E.ON Energy, which is indirectlyowned by German utility E.ON (notified Feb.1/deadline March 8/simplified)

MAY 30

-- U.S. communications company Syniverse Technologies to buy Luxembourg-based communications servicescompany Mach (notified Nov. 16/deadline extended for the secondtime to May 30 from May 15 after the companies asked for moretime)

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.

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A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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