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EU mergers and takeovers (Oct 30)

Fri, 30th Oct 2015 16:03

BRUSSELS, Oct 30 (Reuters) - The following are mergers underreview by the European Commission and a brief guide to the EUmerger process:

APPROVALS AND WITHDRAWALS

-- BT Pension Scheme and Canada Pension Plan InvestmentBoard to acquire a London property (approved Oct. 29)

-- Private equity firm Triton to acquire Dutch engineeringservices company Imtech's Nordic businesses (approvedOct. 29)

-- Private equity firm CCMP Capital Advisors and chemicalscompany Ineos to jointly acquire U.S. sulphuric acidproducer Eco Services (approved Oct. 29)

NEW LISTINGS

-- French supermarket chain Carrefour to acquireFrench electronic products retailer Rue du Commerce (notifiedOct. 28/deadline Dec. 3/simplified)

EXTENSIONS AND OTHER CHANGES

-- Hutchison Whampoa to acquire Telefonica's O2 UK subsidiary (notified Sept. 11/deadline extendedfor the third time to March 16 from Oct. 30 after the EuropeanCommission opened an in-depth investigation)

-- U.S. drinks can maker Ball Corp to acquireBritish rival Rexam Plc (notified June 15/deadlineextended for the second time to Dec. 23 from Dec. 9)

FIRST-STAGE REVIEWS BY DEADLINE

NOV 9

-- Coca-Cola Enterprises, Coca-Cola IberianPartners, German bottler Coca-Cola Erfrischungsgetraenke AG andIcelandic bottler Vífilfell hf to merge (notified Oct.2/deadline Nov. 9)

-- U.S. chipmaker Avago Technologies to acquireU.S. peer Broadcom Corp (notified Oct. 2/deadline Nov.9)

NOV 10

-- U.S. private investment fund Sun Capital to acquireFinlays Horticulture (notified Oct. 5/deadline Nov.10/simplified)

NOV 13

-- U.S. data center operator Equinix to acquireBritish peer Telecity Group (notified Sept. 24/deadlineextended to Nov. 13 from Oct. 29 after Equinix offeredconcessions)

-- Japanese steel producer Marubeni-Itochu Steel andSumitomo Corp to combined their domestic Japanese steelbuilding materials businesses (notified Oct. 8/deadline Nov. 13)

NOV 16

-- BT Pension Scheme and Canada Pension Plan InvestmentBoard to acquire a London property (notified Oct. 9/deadlineNov. 16/simplified)

-- U.S. industrial group Honeywell to acquire theElster utility consumption metering business of British companyMelrose Industries Plc (notified Oct. 9/deadline Nov.16)

NOV 17

-- Swiss insurer ACE to acquire U.S. peer Chubb notified Oct. 12/deadline Nov. 17/simplified)

NOV 18

-- Insurance broker Willis Group to acquirefinancial management services provider Towers Watson & Co (notified Oct. 13/deadline Nov. 18/simplified)

-- Belgian chemical group Solvay to acquire U.S.peer Cytec (notified Oct. 13/deadline Nov. 18)

NOV 20

-- China's HNA Group to acquire Swiss air cargohandler Swissport International (notified Oct. 15/deadline Nov.20)

NOV 23

-- Finland's Fortum and Lithuanian state-ownedenergy group Lietuvos Energija to set up a joint venture(notified Oct. 16/deadline Nov. 23)

-- Apollo Capital Management and hotel management companyRedefine BDL Hotels UK Ltd to acquire joint control of Britishhotel operator LRG Finance (notified Oct. 16/deadline Nov.23/simplified)

NOV 26

-- Bain Capital Investors to acquire car parts distributorAutodistribution Group (notified Oct. 21/deadline Nov.26/simplified)

NOV 27

-- Panasonic Healthcare, which is backed by private equityfirm KKR, and Japan's Panasonic Corp, toacquire Bayer's diabetes care business (notified Oct.22/deadline Nov. 27)

NOV 30

-- Austrian insurer Generali Holding Vienna's GeneraliPensionskasse AG subsidiary and ZürichVersicherungs-Aktiengesellschaft's BONUS Pensionskassen unit tomerge (notified Oct. 23/deadline Nov. 30/simplified)

-- Canadian car parts supplier Magna International to acquire car parts maker Stadco Automotive Ltd (notified Oct.23/deadline Nov. 30/simplified)

-- The Carlyle Group to acquire PA Consulting(notified Oct. 23/deadline Nov. 30/simplified)

DEC 1

-- Commodity trader Trafigura to increase its stake inBelgian zinc producer Nyrstar (notified Oct.26/deadline Dec. 1)

-- Swiss chemicals company Ineos to acquire UK North Sea gasfields from the DEA Group (notified Oct. 26/deadline Dec.1/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 18

-- South African paper maker Mondi toacquire some assets from portfolio company Walki (notified July29/deadline extended to Jan. 18 from Sept. 2 after the EuropeanCommission opened an in-depth investigation)

FEB 10

-- U.S. office supplier Staples to acquire U.S.rival Office Depot (notified Aug. 21/deadline extendedto Feb. 10 from Sept. 25 after the European Commission opened anin-depth investigation)

MARCH 3

-- Cable telecoms company Liberty Global's Belgiansubsidiary Telenet to buy mobile network operator Basefrom Dutch group KPN (notified Aug. 17/deadlineextended for the fourth time to March 3 from Feb. 18)

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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