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Pin to quick picksGlaxosmithkline Share News (GSK)

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EU mergers and takeovers (Aug 18)

Tue, 18th Aug 2015 13:31

BRUSSELS, Aug 18 (Reuters) - The following are mergers underreview by the European Commission and a brief guide to the EUmerger process:

APPROVALS AND WITHDRAWALS

none

NEW LISTINGS

-- Pfizer to acquire British drugmakerGlaxoSmithKline's menACWY meningitis vaccine business(notified Aug. 17/deadline Sept. 29)

-- Cable telecoms company Liberty Global's Belgiansubsidiary Telenet to buy mobile network operator Basefrom Dutch group KPN (notified Aug. 17/deadline Sept.21)

-- European private equity group Cinven to buymajority stake in German laboratory operator Synlab from BCPartners (notified Aug. 17/deadline Sept.21/simplified)

EXTENSIONS AND OTHER CHANGES

none

FIRST-STAGE REVIEWS BY DEADLINE

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

-- 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

-- 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)

-- U.S. grains company Archer Daniels Midland Co toacquire starch producer Eaststarch (notified July 28/deadlineSept. 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)

SEPT 4

-- Private equity firms 3i Group and AMP Capital Investorsto acquire joint control of offshore emergency and rescueservices provider Esvagt (notified July 31/deadline Sept.4/simplified)

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 8

-- Evo Payments International, Raiffeisen Bank Polska and Czech lender Raiffeisenbank to jointlycontrol two new subsidiaries with merchant acquiring andacquiring processing services transferred from the two banks(notified Aug. 4/deadline Sept. 8/simplified)

SEPT 9

-- U.S. grain trader Archer Daniel Midland toacquire Belgian vegetable oil distributor AOR NV (notified Aug.5/deadline Sept. 9)

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

SEPT 10

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

SEPT 11

-- U.S. investment firm Apollo Global Management toaquire majority control of Slovenian bank Nova KBM (notifiedAug. 7/deadline Sept. 11/simplified)

-- 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 14

-- Singapore-listed palm oil processor Wilmar International and Italian oil products company Fox PetroliferaItaliana SpA to set up a joint venture (notified Aug.10/deadline Sept. 14/simplified)

-- BPIFrance and Springwater Capital LLC to acquire jointcontrol of French paper producer Delion France (notified Aug.10/deadline Sept. 14/simplified)

-- Naxicap Partners and Fonds Avenir Automobile to acquirejoint control of French car parts maker Defta Group (notifiedAug. 10/deadline Sept. 14/simplified)

SEPT 16

-- Norwegian telecoms company Telenor and Swedishpeer TeliaSonera to combine their Danish mobilebusinesses (notified Feb. 27/deadline extended to Oct. 7 fromSept. 16 after the companies offered commitments)

-- Private equity firm CVC Capital Partners to acquireenergy company PKP Energetyka (notified Aug. 12/deadline Sept.16/simplified)

-- Private equity firms Advent International, Bain Capitaland Clessidra to jointly acquire Italian banking servicescompany ICBPI (notified Aug. 12/deadline Sept. 16)

-- Chinese state-owned food firms Bright Food Group CoLtd to acquire Spanish holding company Invermik SA(notified Aug. 12/deadline Sept. 16/simplified)

SEPT 17

-- Kuwait Investment Authority (KIA) and Spanish energygroup Gas Natural to acquire joint control of GlobalPower Generation (notified Aug. 13/deadline Sept. 17/simplified)

-- Buyout group KKR to acquire German cutlery andcoffee-machine maker WMF together with Austrianholding company FIBA (notified Aug.13/deadline Sept. 17)

SEPT 18

-- U.S. distressed investment fund Apollo to acquiremajority stake in steel trader Stemcor (notified Aug.14/deadline Sept. 18/simplified)

-- Japanese insurer Tokio Marine Holdings Inc tobuy U.S. specialty insurer HCC Insurance Holdings Inc (notified Aug. 14/deadline Sept. 18/simplified)

-- Groupe Acticall to acquire customer relationshipmanagement company Sitel (notified Aug. 14/deadline Sept.18/simplified)

-- 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)

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)

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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