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EU mergers and takeovers (Feb 13)

Thu, 13th Feb 2014 16:30

BRUSSELS, Feb 13 (Reuters) - The following are mergers underreview by the European Commission and a brief guide to the EUmerger process:

APPROVALS AND WITHDRAWALS

-- Qatar Petroleum International, Greekconstruction company GEK Terna and French gas andpower utility GDF Suez to acquire joint control ofGreek power plant operator Heron II which is now jointlycontrolled by GEK Terna and GDF Suez (approved Feb. 13)

NEW LISTINGS

-- British pension fund Universities Superannuation SchemeLimited (USS) to acquire 49.9 percent of British air trafficcontroller The Airline Group Ltd whose shareholders are BritishAirways, Easyjet and Monarch Airlines (notified Feb. 11/deadliine March 18)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

FEB 18

-- Cintra Infraestructuras, Abertis AutopistasEspana and Itinere Infraestructuras to set up jointventure to market and distribute electronic equipment to pay onSpanish toll motorways (notified Jan. 14/deadline Feb. 18)

FEB 26

-- French bank BPCE and Belgian private equity company GIMV to acquire joint control of Veolia Transport Belgium(notified Jan. 22/deadline Feb. 26/simplified)

FEB 28

-- Investment fund Apollo Group and Spanish financialservices fund Fondo de Garantia de Depositos de Entidades deCredito to acquire joint control of air parts maker Synergy(notified Jan. 24/deadline Feb. 28/simplified)

-- U.S. food packager Crown Holdings to buy Spanishfood-can maker Mivisa Envases from investment funds theBlackstone Group, N+1 Mercapital and management (notifiedJan. 24/deadline Feb. 28)

-- Canadian investment fund Canada Pension Plan InvestmentBoard to acquire joint control of Luxembourg-based propertydeveloper Parque Principado from real estate developer IntuHolding S.a.r.l (notified Jan. 24/deadline Feb. 28/simplified)

MARCH 4

-- Publisher Aller Media AB and Swedish publisher EgmontHolding AB to acquire joint control of online publisher Mediafy,which is now controlled by publisher Bonnier Tidskrijfter (notified Jan. 28/deadline March 4)

MARCH 5

-- U.S. chemical maker Huntsman Corp to acquire U.S.peer Rockwood Holdings's titanium dioxide pigmentsbusiness (notified Jan. 29/deadline March 5)

MARCH 6

-- Russian oil producer Lukoil to acquire Italianenergy company ISAB Energy S.r.l and ISAB Energy Services S.r.l.(notified Jan. 30/deadline March 6/simplified)

MARCH 7

-- U.S. fuel products provider World Fuel Services Corp to buy British petroleum products distributor WatsonPetroleum Ltd (notified Jan. 31/deadline March 7/simplified)

MARCH 14

-- Spanish builder Sacyr and Lloyds Bank unit LBEIP to acquire joint control of hospital operator HC(notified Feb. 7/deadline March 14/simplified)

-- Asset management company Brookfield andJapanese shipper Mitsui O.S.K. Lines to acquire jointcontrol of U.S. port operator International Transportation Inc,which is now solely controlled by Mitsui (notified Feb.7/deadline March 14/simplified)

-- French insurer Predica, which is a subsidiary of Frenchbank Credit Agricole, and Aviva France toacquire joint control of a French property developer (notifiedFeb. 7/deadline March 14/simplified)

MARCH 17

-- Ireland's Kendrick Investments Ltd to take sole controlof Irish oil company Topaz Energy Group and Irish investmentfund Resource Property Investment Fund Plc (notified Feb.10/deadline March 17/simplified)

-- U.S. card payment services company WEX andBritish peer Radius to acquire joint control of ExxonMobil's European fuel card buisness (notified Feb. 10/deadlineMarch 17/simplified)

MARCH 21

-- Switzerland-based INEOS and Belgian chemicals companySolvay to form a joint venture (notified Sept.16/deadline extended for the second time to March 21 from Nov. 5after the European Commission opened an in-depth investigation)

MARCH 31

-- Swiss cement maker Holcim to buy some ofMexican peer Cemex's assets in Europe . (notified Sept. 3/deadline extended for the second time to May 2from March 31)

APRIL 24

-- Hutchison 3G UK to acquire Telefonica Ireland,a unit of Spanish telecoms provider Telefonica (notified Oct. 1/deadline extended to April 24 from March 24)

MAY 14

-- Spanish telecoms provider Telefonica to buyDutch peer KPN's German unit (notified Oct.31/Commission opened in-depth probe on Dec. 20, new deadline May14)

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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