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Share Price: 73.50
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Ask: 73.62
Change: -0.68 (-0.92%)
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Open: 73.88
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EU mergers and takeovers (Oct 30)

Wed, 30th Oct 2013 16:21

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

APPROVALS AND WITHDRAWALS

-- British telecoms operator Vodafone to buy aminority stake in Vodafone Omnitel N.V. from U.S. peer VerizonCommunications Inc (approved Oct. 30)

-- Dutch dredger Boskalis and investment companyReggeborgh to acquire joint control of subsea power cablessupplier Visser & Smit Marine Contracting B.V. which is nowsolely controlled by Reggeborgh (approved Oct. 29)

NEW LISTINGS

-- Microsoft to acquire Nokia's phonebusiness (notified Oct. 29/deadline Dec. 4)

-- Airport ground and cargo services handler Swissport,which is owned by private equity company PAI Partners, toacquire Servisair from French company Derichebourg SA (notified Oct. 29/deadline Dec. 4)

-- British private equity firm EQT VI to buy Finnishhealthcare services company Terveystalo Healthcare (notified Oct. 28/deadline Dec. 3)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

NOV 5

-- Switzerland-based INEOS and Belgian chemicals companySolvay to form a joint venture (notified Sept.16/deadline extended to Nov. 5 from Oct. 21 after Solvay offeredconcessions)

NOV 6

-- South African furniture retailer Steinhoff InternationalHoldings to acquire electrical appliances retailerRudolf Leiner Gesellschaft m.b.H. and LKMBeteiligungsgesellschaft m.b.H. (notified Oct. 1/deadline Nov.6/simplified)

-- Hutchison 3G UK to acquire Telefonica Ireland,a unit of Spanish telecoms provider Telefonica (notified Oct. 1/deadline Nov. 6)

NOV 12

-- U.S. maker of scientific and laboratory equipment ThermoFisher Scientific to buy genetic testing equipment makerLife Technologies (notified Oct. 7/deadline Nov. 12)

NOV 14

-- Japanese trading house Mitsui & Co, IskandarInvestment Berhad (IIB) which is majority owned by Malaysianstate investor Khazanah Nasional Berhad, andinvestment company UWI Capital One to acquire joint control ofMedini Iskandar Malaysia Sdn Bhd, which is now jointlycontrolled by IIB and UWI (notified Oct. 9/deadline Nov.14/simplified)

NOV 18

-- U.S. asset management fund Ares Management LLC andCanada's Ontario Teachers Pension Plan Board to acquire jointcontrol of U.S. building products company CPG International LLC,which is now solely controlled by Ares (notified Oct.11/deadline Nov. 18/simplified)

-- Norwegian telecoms operator Telenor to take astake in a venture owned by Norwegian publishing house Schibsted and Singapore Press Holdings, and also to set up ajoint venture with Schibsted focusing on South American business(notified Oct. 11/deadline Nov. 18/simplified)

-- Parkwind, which is an investment vehicle of Belgiansupermarket chain Colruyt Group, and special purposevehicle Summit Renewable Energy, which is owned by Japan'sSumitomo Corp, to acquire joint control of wind farmoperator Belwind 1, which is now solely owned by SummitRenewable Energy (notified Oct. 11/deadline Nov. 18/simplified)

-- French luxury goods company LVMH to buy an 80percent stake in Italian luxury cashmere clothing brand LoroPiana (notified Oct. 11/deadline Nov. 18/simplified)

NOV 21

-- Czech energy company EPH to acquire Slovakian powerdistributor Stredoslovenska Energetika (SSE) from Frenchstate-controlled utility EDF (notified Oct. 15/deadlineNov. 21)

NOV 25

-- Private equity investor 3i Group to acquire sole controlof ferry operator Scandferries Holdings which is now jointlycontrolled by 3i and ACP Affiliates (notified Oct. 18/deadlineNov. 25/simplified)

NOV 26

-- U.S. bank Goldman Sachs to acquire sole control ofBritish motor insurer Hastings Insurance Group (notified Oct.21/deadline Nov. 26/simplified)

NOV 27

-- Japan's Suntory Beverage & Food Ltd to buyBritish drugmaker GlaxoSmithKline Plc's Lucozade andRibena brands (notified Oct. 22/deadline Nov. 27)

NOV 29

-- French industrial group Schneider Electric tobuy British engineer Invensys (notified Oct 24/deadlineNov. 29)

DEC 2

-- Private equity group Blackstone and investmentbank Goldman Sachs to acquire joint control of Britishinsurer Rothesay Life which is now solely owned by Goldman Sachs(notified Oct. 25/deadline Dec. 2)

DEC 3

-- Private equity investors Altor Funds and TryghedsGruppento merge their Nordic fitness companies Elixia Holding III ASand Health & Fitness Nordic AB (notified Oct. 28/deadline Dec.3)

MARCH 10

-- Swiss cement maker Holcim to buy some ofMexican peer Cemex's assets in Germany (notified Sept. 3/dateline extended to March 10 from Oct. 22after the Commission opened an in-depth investigation into thedeal)

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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