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EU mergers and takeovers (Jan 7)

Thu, 07th Jan 2016 11:05

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

APPROVALS AND WITHDRAWALS

NEW LISTINGS

-- BP is reorganising its Ruhr Oel refining jointventure with Rosneft in Germany, under which BP willget 100 percent of the Gelsenkirchen refinery (notified on Jan.6/deadline Feb 10/simplified)

-- La Compagnie des Cartes Carburant, majority owned byEdenred, to form joint venture in company fuel cards with UnionTank Eckstein, in which Edenred also has a stake (notified onJan. 5/deadline Feb 9/simplified)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

JAN 11

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

-- Japan's Sumitomo Corp and Sumitomo MitsuiBanking Corp acquire joint control of Indonesiancompanies PT Summit Oto Finance and PT Oto Multiartha, which arecurrently subsidiaries of Sumitomo Corp (notified Nov.26/deadline Jan. 11/simplified)

-- Danish logistics group DSV A/S to acquire UTiWorldwide Inc, incorporated under laws of BritishVirgin Islands (notified Nov. 26/deadline Jan. 11/simplified)

JAN 12

-- Oilfield services provider Halliburton to buyrival Baker Hughes in a stock and cash transaction(notified Nov. 27/deadline Jan. 12)

-- Goldman Sachs and the Wellcome Trust plan to forma joint venture combining their student accommodation businessesin Britain (notified Nov. 27/deadline Jan. 12/simplified)

JAN 13

-- U.S. packages delivery company FedEx to acquireDutch peer TNT (notified July /deadline extended toJan. 13 from Dec. 8 after the companies asked for more time)

JAN 14

-- Private equity firms Triton and KKR to set up ajoint venture of their respective chemical tankerbusinesses.(notified Dec. 1/deadline Jan. 14/simplified)

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

JAN 19

-- French IT services firm Atos to acquirecommunications firm Unify (notified Dec 4/deadline Jan.19/simplified)

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

-- Panalpina to acquire majority of shares inAirflo, an airfreight forwarder specialising inperishables.(notified Dec 4/deadline Jan. 19/simplified)

-- Spanish travel technology company Amadeus toacquire airline technology services Navitaire which is asubsidiary of Accenture Plc (notified Dec. 4/deadlineJan. 19)

-- German industrial products maker Freudenberg and Japanesechemical industry group Toray Industries to acquirejoin 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 SASand De Agostini for the production and distribution of contentfor television and multimedia platforms (notified Dec 7/deadlineJan. 20)

JAN 21

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

JAN 22

-- Investment bank Goldman Sachs and private equityfirm Astorg Asset Management to jointly acquire French drugmakerHRA Pharma (notified Dec. 9/deadline Jan.22/simplified)

-- Japan's Mitsubishi Heavy Industries to acquireJapanese forklift maker Unicarriers Holdings (notified Dec.9/deadline Jan. 22/simplified)

-- U.S. drinks can maker Ball Corp to acquireBritish rival Rexam Plc (notified June 15/deadlineextended for the third time to Jan 22 from Dec. 23 aftercompanies submitted commitments)

JAN 25

-- German wind turbine maker Nordex to acquireSpanish firm Acciona's wind power business (notifiedDec. 10/deadline Jan. 25/simplified)

JAN 26

-- Belgian insurer Ageas to acquire French insurerAxa's Portuguese operations (notified Dec. 11/deadlineJan. 26/simplified)

JAN 29

-- Steelmaker ArcelorMittal and a group made up ofBanco Bilbao Vizcaya Argentaria, Banco de Sabadell, Banco Santander, Banco Popular Espanol, Bankia, Caixabank, Bankintercaja, Caja Rural de Navarra and Kutxabank to jointly acquire steel tube maker Grupo Condesa(notified Dec. 16/deadline Jan. 29)

FEB 1

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

FEB 2

-- Investment fund CVC Capital Partners Ltd to buy40 percent stake in motorway services provider Moto with UKprivate sector pension fund USS (notified Dec. 18/deadline Feb.2/simplified)

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

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

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

FEB 4

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

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

-- Formation of Chinese metal producing and distributingjoint venture between Gonvarri Corporacion Financiera, part ofSpain's Acek Desarollo y Gestion Industrial, and Dongguan SummitMetal Products Co, part of a Japanese group headed by SumitomoCorp (notified on Dec. 22/deadline Feb. 4/simplified)

FEB 5

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

FEB 8

-- Indian IT services company HCL Technologies toacquire Swedish automaker Volvo's external ITbusiness (notified on Jan. 4/deadline Feb. 8/simplified)

-- Pension funds USS Nero Limited of Britain, OPSEU PensionPlan Trust Fund of Canada and PGGM N.V. of the Netherlands toacquire Spanish infrastructure firm Global Vía Infraestructurasfrom Bankia and FCC (notified on Jan.4/deadline Feb. 8)

FEB 9

-- La Compagnie des Cartes Carburant, majority owned byEdenred, to form joint venture in company fuel cards with UnionTank Eckstein, in which Edenred also has a stake (notified onJan. 5/deadline Feb 9/simplified)

FEB 10

-- BP is reorganising its Ruhr Oel refining jointventure in Germany, under which it will get 100 percent of theGelsenkirchen refinery (notified on Jan. 6/deadline Feb10/simplified)

MARCH 3

-- Cable telecoms company Liberty Global's Belgiansubsidiary Telenet to buy mobile network operator Basefrom Dutch group KPN (notified Aug. 17/deadlineextended to March 17 from March 3)

MARCH 9

-- U.S. office supplier Staples to acquire U.S.rival Office Depot (notified Aug. 21/deadline extendedfor the third time to March 9 from March 2 after the companiesasked for more time)

APRIL 22

-- Hutchison Whampoa to acquire Telefonica's O2 UK subsidiary (notified Sept. 11/deadline extendedfor the fifth time to April 22 from April 18)

SUSPENDED

-- 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 Brussels newsroom)

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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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