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EU mergers and takeovers (April 23)

Tue, 23rd Apr 2013 11:30

BRUSSELS, April 23 (Reuters) - The following are mergersunder review by the European Commission and a brief guide to theEU merger process:

APPROVALS AND WITHDRAWALS

-- Investment bank Goldman Sachs and private equityfirm TPG Lundy to buy British real estate developer TullochHomes Group from British lender Lloyds Bank (approvedApril 22)

NEW LISTINGS

-- Canada Life, which is a subsidiary of Canadian lifeinsurer Great-West Lifeco, to acquire Irish Life(notified April 22/deadline May 31)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

APRIL 23

-- U.S. ceramic tile maker Mohawk Industries to acquirepanel board maker Spano Invest, which is majority-owned byBelgian holding company Ackermans & Van Haaren (notified March 14/deadline April 23)

-- Greek carrier Aegean Airlines to buy OlympicAir (notified Feb. 28/deadline extended to April 23from April 9 after Aegean offered commitments)

APRIL 26

-- German optical technology company Carl Zeiss to acquire sole control of eyewear maker Carl Zeiss VisionHolding GmbH (notified March 19/deadline April26/simplified)

APRIL 30

-- German rail operator Deutsche Bahn to acquiresole control of eastern European bus services company VeoliaTransport Central Europe which is a majority-owned unit ofFrench transport company Veolia Transport Transdev Group (notified March 21/deadline April 30)

MAY 7

-- Dutch insurer Aegon to acquire Spanish bankSantander's insurance subsidiaries Santander Vida andSantander Generales (notified March 27/deadline May 7)

MAY 8

-- RAG trust and buyout firm CVC Capital Partners to sell part of their shares in German chemicals company EvonikIndustries (notified April 2/deadline May8/simplified)

-- Distributor Export Trading Company Holdings (ETC), SCPE,which is the private equity arm of British bank StandardChartered, investment funds Pemgrofund and CarlyleCommodities to acquire joint control of ETC Group (notifiedApril 2/deadline May 8/simplified)

MAY 13

-- Food processor McCain Foods Group to buy potato productssupplier Lutosa Business (notified April 3/deadline May 13)

MAY 14

-- Norwegian aluminium producer Norsk Hydro andNorwegian peer Orkla to merge their extruded aluminiumunits via a joint venture (notified March 18/deadline extendedto May 14 from April 25 after Norsk Hydro offered concessions)

MAY 15

-- Warner Music Group, which is owned by Access IndustriesInc, to acquire Parlophone Label Group from Vivendi's Universal Music Group (notified April 5/deadline May 15)

MAY 16

-- Private equity firm Rhone Capital to purchase bakeryproducts maker CSM Bakery Supplies (notified April 8/deadlineMay 16/simplified)

-- Czech group Agrofert to buy Italian pasta maker Barilla'sGerman bakery chain Lieken AG (notified April 8/deadline May16/simplified)

MAY 17

-- French insurer Sogecap, which is part of French bankSociete Generale, and Cardif Assurance Vie, which is asubsidiary of French bank BNP Paribas, to jointlyacquire a real estate developer (notified April 9/deadline May17)

-- Swedish truck maker Volvo to set up a jointventure with China's Dongfeng Motor Group Co (notifiedApril 9/deadline May 17/simplified)

-- Australian warehouse operator Goodman Group toacquire a stake in a container terminal owned by ports operatorDP World Limited, which is part of Dubai World (notified Aprill 9/deadline May 17/simplified)

MAY 27

-- Private equity firms KKR and Bregal Fund tojointly invest in private school operator Cognita (notifiedApril 16/deadline May 27/simplified)

-- Tokia Rubber, which is a subsidiary of SumitomoElectric Industries, to buy car parts maker Anvis GroupGmbH from H.I.G. Capital (notified April 16/deadline May 27)

MAY 29

-- Swedish industrial holding company Lindengruppen andSwedish asset management company Foundation Asset ManagementSweden to jointly acquire Swedish metalS powder manufacturerHoganas (notified April 18/deadline May 29/simplified)

-- Otsuka Pharmaceutical, which is a subsidiary of OtsukaHoldings Co, and Japanese trading house Mitsui & Co to acquire stakes in Claris Otsuka Ltd which is ownedby Indian drugmaker Claris Lifesciences Ltd (notifiedApril 18/deadline May 29/simplified)

JUNE 7

-- Finnish paper producer Ahlstrom to merge witha unit of Swedish company Munksjo, which is partly owned byprivate equity fund EQT (notified Oct. 31/deadline extended forthe second time to June 7 from May 16 after Ahlstrom offeredconcessions)

JUNE 20

-- U.S. communications company Syniverse Technologies to buy Luxembourg-based communications servicescompany Mach (notified Nov. 16/deadline extended for the thirdtime to June 20 from May 30 after Syniverse offered additionalcommitments)

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.

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