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EU mergers and takeovers (July 2)

Tue, 02nd Jul 2013 11:52

BRUSSELS, July 2 (Reuters) - The following are mergers underreview by the European Commission and a brief guide to the EUmerger process:

APPROVALS AND WITHDRAWALS

-- U.S. group General Electric Co to buy the aviationbusiness of Italian plane components maker Avio from privateequity fund Cinven and Italian defence group Finmeccanica (approved July 2)

-- Shell to buy some liquified natural gas assetsfrom Spanish oil company Repsol (approved July 2)

NEW LISTINGS

-- Canada's Valeant Pharmaceuticals International to buy eye health products maker Bausch & Lomb Holdings Inc from private equity firm Warburg Pincus LLC(notified July 1/deadline Aug. 5)

EXTENSIONS AND OTHER CHANGES

-- U.S. medical product maker Baxter International Inc to buy Swedish kidney dialysis product company Gambro(notified June 3/deadline extended to July 22 from July 8 afterBaxter offered concessions)

FIRST-STAGE REVIEWS BY DEADLINE

JULY 4

-- Norwegian telecoms provider Telenor to acquireBulgarian mobile operator Cosmo Bulgaria Mobile EAD andtelephony products retailer Germanos Telecom Bulgaria EAD fromGreek telecoms company OTE (notified May 30/deadlineJuly 4)

JULY 9

-- Private equity firm KKE to acquire indirectcontrol of U.S. industrial machinery manufacturer Gardner DenverInc (notified June 4/deadline July 9/simplified)

JULY 10

-- Private equity firm Bain Capital to acquire sole controlof German brakes maker FTE (notified June 5/deadline July10/simplified)

JULY 12

-- German agricultural cooperative BayWa toacquire joint control of German grain trading company BohnhorstAgrarhandel (notified June 7/deadline July 12/simplified)

-- Private equity firm Kohlberg Kravis Roberts tobuy waters services supplier South Staffordshire plc (notifiedJune 7/deadline July 12/simplified)

JULY 15

-- Norwegian maritime classification firm Det Norske Veritasto merge with Hamburg-based peer Germanischer Lloyd (notifiedJune 10/deadline July 15)

JULY 18

-- Italian gas distributor Snam and Luxembourg investmentcompany GICSI to acquire joint control of French gas networkoperator Transport et Infrastructure Gaz France S.A (notifiedJune 13/deadline July 18/simplified)

JULY 19

-- U.S. diversified manufacturer Crane Co to buy U.S.manufacturer of electronic bill acceptors and transactionmechanisms MEI Conlux from private equity firms Bain Capital andAdvantage Partners (notified May 31/deadline extended to July 19from July 5 after Crane offered concessions)

-- Swiss-based oil trader Vitol to buy one of refinerPhillips 66's British power plant (notified June14/deadline 19/simplified)

JULY 22

-- Canadian private equity firm Onex Corp toacquire indirect sole control of U.S. windows and door makerJeld-Wen (notified June 17/deadline July22/simplified)

-- Swiss industrial group ABB to buy U.S. solarenergy company Power-One Inc (notified June 17/deadlineJuly 22)

JULY 23

-- US Airways Group and American Airlines to merge (notified June 18/deadline July 23)

JULY 24

-- German car parts supplier Mahle to increase its majoritystake in German peer Behr KG (notified June19/deadline July 24/simplified)

JULY 25

-- Carrier Asia, which is a subsididary of UnitedTechnologies Corp, and Toshiba Carrier Corporation,which is a joint venture between UTC and Toshiba Corp,to set up an air-conditioning products joint venture in China(notified June 20/deadline July 25/simplified)

-- German insurer Allianz and Canadian investorBorealis to buy Czech gas pipeline operator Net4Gas fromGermany's RWE AG (notified June 20/deadline July25/simplified)

-- German insurer Allianz SE and others to buy RWEAG's Czech gas pipeline operator business Net4Gas(notified June 20/deadline July 25/simplified)

-- Carlyle Group to buy 40 percent of AlpInvest(notified June 20/deadline July 25/simplified)

JULY 26

-- Private equity firm Blackstone Group to buyproperty developer Multi Corp (notified June 21/deadline July26/simplified)

-- Canadian pension funds OMERS and AimCo to acquire jointcontrol of European cinema operator Vue EntertainmentInternational Ltd (notified June 21/deadline July 26)

JULY 29

-- Investment bank Goldman Sachs and financial servicescompany Gavea Investimentos to acquire joint control of LatinAmerican telecoms services company Cell Site Solutions Cessao deInfraestruturas S.A. (notified June 24/deadline July29/simplified)

JULY 31

-- Dubai state-owned aluminium producer Dubal Aluminium,which is a subsidiary of the Investment Corp of Dubai, and AbuDhabi state-owned Emirates Aluminium, which is owned by MubadalaDevelopment Company, to merge (notified June 26/deadline July31/simplified)

AUG 1

-- Private equity fund Cinven to buy German ceramic productsmaker CeramTtec from U.S. chemicals company Rockwood Holdings (notified June 27/deadline Aug. 1/simplified)

AUG 2

-- U.S. grain trader Archer Daniels Midland Co tobuy Australian grain handler GrainCorp Ltd (notifiedJune 28/deadline Aug. 2/simplified)

SEPT 3

-- Greek carrier Aegean Airlines to buy OlympicAir (notified Feb. 28/deadline extended for the secondtime to Sept. 3 from April 23 after the Commission opened anin-depth investigation)

SEPT 6

-- Swedish refiner Nynas to purchase certain assets fromRoyal Dutch Shell's Harburg refinery (notified Feb.19/deadline extended for the second time to Sept. 6 from Aug. 8)

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. (Editing by Foo Yun Chee)

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