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EU mergers and takeovers (Jan 22)

Tue, 22nd Jan 2013 12:16

BRUSSELS, Jan 22 (Reuters) - The following are mergers underreview by the European Commission and a brief guide to the EUmerger process:

APPROVALS AND WITHDRAWALS

-- Private investment firm Vitronet Investments, which isjointly controlled by German utility RWE andLuxembourg-based Aesop S.a.r.l, to acquire German informationservices provider Infinity (approved Jan. 22)

-- Investment bank Goldman Sachs, TPG LundyCo L.P.and British bank Barclays to jointly acquire Britishhotel operator Kew Green (approved Jan. 22)

NEW LISTINGS

-- Belgian state-owned investment company SFPI to acquire acontrolling stake in Franco-Belgian bank Dexia (notified Jan. 18/deadline Feb. 22)

-- The Turkish subsidiary of German power utility E.ON to buy a 50 percent stake in Turkish power companyEnerijsa, which will give it joint control with Turkey's HaciOmer Sabanci Holdings group (notified Jan. 18/deadline Feb.22/simplified)

EXTENSIONS AND OTHER CHANGES

-- U.S. communications company Syniverse Technologies to buy Luxembourg-based communications servicescompany Mach (notified Nov. 16/deadline extended for the secondtime to May 30 from May 15 after the companies asked for moretime)

FIRST-STAGE REVIEWS BY DEADLINE

JAN 30

-- Japanese car parts company Yazaki Europe to acquire solecontrol of car electrical distribution systems maker S-Y SystemsTechnologies Europe, which jointly controlled by Yazaki andContinental Automotive GmbH (notified Dec. 14/deadlineJan. 30/simplified)

FEB 5

-- U.S. mail delivery company United Parcel Service Inc to acquire Dutch peer TNT Express (notifiedJune 15/deadline extended for the fifth time to Feb. 5 from Jan.15 after UPS offered commitments)

-- German private equity group Droege International to takecontrol of German technology company ALSO-Actebis (notified Dec. 21/deadline Feb. 5)

FEB 6

-- Private equity firm Advent International to acquire U.S.specialty chemicals maker Cytec's coating resin business(notified Dec. 21/deadline Feb. 6)

-- Japanese auto parts maker U-Shin to buy Frenchcar parts equipment maker Valeo's car lock unit(notified Dec. 21/deadline Feb. 6)

-- German service company BayWa AG to acquire a 60percent stake in German agricultural wholesaler and retailerBohnhorst Agrarhandel (notified Dec. 21/deadline Feb. 6)

FEB 7

-- Japanese conglomerate Mitsui & Co Ltd andRussian steel producer Severstal to acquire jointcontrol of Russian steel product makerSeverstal-SSC-Vsevolozhsk, which is now soley controlled bySeverstal (notified Jan. 3/deadline Feb. 7/simplified)

-- U.S. clothing firm PVH to acquire clothingcompany Warnaco (notified Jan. 3/deadline Feb. 7)

-- Japanese conglomerate Mitsui to acquire part ofAmerican car dealer Penske Automotive Group's Italiansubsidiary PAG Italy S.r.l. (notified Jan. 3/deadline Feb.7/simplified)

-- French public financial group CDC to set up ajoint venture with French computer firm Bull focused oncloud computing (notified Jan. 3/deadline Feb. 7/simplified)

-- Japan's Mitsubishi Corporation and MitsubishiElectric Corporation to acquire joint control of MELCOElevator Vietnam Co. Ltd. (notified Jan. 3/deadline Feb.7/simplified)

FEB 11

-- French financial group PAI Partners to take control ofFrench industrial supplier Industrial Parts Holding(IPH)(notified Jan. 7/deadline Feb. 11)

FEB 18

-- Japanese camera maker Canon to acquire Belgiandocument recognition company Iris (notified Jan.14/deadline Feb. 18)

FEB 20

-- Private equity firm Clayton Dubilier & Rice to acquireBritish consumer goods retailer B&M (notified Jan. 16/deadlineFeb. 20/simplified)

FEB 22

-- Japanese engineering company IHI Corp to buy theremaining 49 percent of German car turbo charger maker IHICharging Systems International it does not own from German carmaker Daimler AG (notified Jan. 18/deadline Feb.22/simplified)

-- Private equity firm CVC Capital Partners to buydata information provider Cerved Holding (notified Jan.18/deadline Feb. 22/simplified)

FEB 27

-- Ryanair to acquire Aer Lingus (notifiedJuly 24/deadline extended for the third time to Feb. 27 fromFeb. 6 after Ryanair offered more commitments)

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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