April 7, 2015 / 6:18 PM / 2 years ago

EU mergers and takeovers (April 7)

7 Min Read

BRUSSELS, April 7 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

Approvals and Withdrawals

-- German insurer Allianz, Canadian investment fund manager Alberta Investment Management Corp and Utilities Trust of Australia to acquire joint control of railway rolling stock producer Porterbrook (approved April 7)

New Listings

-- Investment fund Apollo Management to acquire German mail order and Internet retailer Walz Group (notified April 1/deadline May 12/simplified)

-- Japan's Mitsui Chemicals and South Korean conglomerate SK Holdings to set up a joint venture (notified April 1/deadline May 12/simplified)

-- French equity firm Ardian to acquire a 65-percent stake in Spanish toll-road operator Tunels, which is 35-percent controlled by Spanish toll-road operator Abertis SA (notified April 1/deadline May 12)

-- U.S. investment firm Starwood Capital Group and Spanish hotel chain Melia Hotels International to acquire joint control of six hotels in Spain (notified March 30/deadline May 8/simplified)

Extensions and Other Changes

None

First-Stage Reviews by Deadline

April 8

-- Norwegian telecoms company Telenor and Swedish peer TeliaSonera to combine their Danish mobile businesses (notified Feb. 27/deadline April 8)

April 9

-- U.S. flooring products maker Mohawk Industries Inc to acquire Luxembourg-based International Flooring Systems (notified March 2/deadline April 9)

Apirl 10

-- Chinese state-owned steelmaker Hebei Iron & Steel Group to acquire a controlling stake in Swiss steel product trader from DPH Duferco International Trading Holding (notified March 3/deadline April 10/simplified)

April 15

-- Private equity firm Riverstone and British bank Barclays to jointly acquire oil producer Origo (notified March 6/deadline April 15/simplified)

April 16

-- Hong Kong's Cheung Kong Infrastructure Holdings Ltd to purchase British rail rolling stock company Eversholt Rail (notified March 9/deadline April 16/simplified)

April 17

-- Spanish oil company Repsol to acquire Canadian oil and gas producer Talisman Energy Inc. (notified March 10/deadline April 17/simplified)

April 20

-- Finnish ship engine and power plant maker Wartsila to buy navigation systems maker L-3 Marine Systems from L-3 Holding (notified March 11/deadline April 20/simplified)

-- Telecoms group Altice to acquire Brazilian peer Grupo Oi's Portuguese assets (notified Feb. 25/deadline April 20/concessions offered April 20/Portuguese competition authority asked to review the case on March 5)

April 21

-- Private equity firms Ardian France and F2i SGR to acquire joint control of investor F2i Aeroporti which holds stakes in companies operating at Italian airports (notified March 12/deadline April 21)

April 23

-- German industrial services group Bilfinger and merchandising and management services provider Papstar Holding AG to set up a joint venture (notified March 16/deadline April 23/simplified)

April 27

-- U.S. bank Goldman Sachs and French property developer Altarea to jointly acquire French holding company Pascal Defense S.A.R.L. (notified March 18/deadline April 27/simplified)

-- Irish cement firm CRH to buy assets from merging companies Lafarge and Holcim (notified March 18/deadline April 27)

April 28

-- Canadian public pension fund Caisse de Depot du Placement du Quebec and British asset manager Hermes to acquire 40 percent of British high-speed rail Eurostar International Ltd, which is 55 percent owned by French rail operator SNCF Mobilities (notified March 19/deadline April 28)

April 29

-- Austrian property developer CA Immo to acquire control of Austrian peer Immofinanz (notified March 20/deadline April 29/simplified)

April 30

-- German agricultural products distributor Baywa , German electric heating producer GlenDimplex and German energy software developer Greencom to acquire shares in energy services provider BEEGY GmbH (notified March 23/deadline April 30/simplified)

May 5

-- Qatari-backed investor Constellation Hotels to acquire InterContinental Hotels Group's flagship Le Grand hotel in Paris (notified March 25/deadline May 5/simplified)

-- U.S. conglomerate Berkshire Hathaway to acquire German motorcycle apparel and accessories retailer Detlev Louis Motrorrad-Vertriebs GmbH (notified March 25/deadline May 5/simplified)

May 7

-- MI Fashion Ltd and L Capital Asia 2 Pte Ltd to acquire joint control of clothing retailer Pepe Jeans Group (notified March 27/deadline May 7/simplified)

May 11

-- Japanese electronics group Hitachi to acquire Italian train maker AnsaldoBreda and its rail-signalling company Ansaldo STS from Italian aerospace and defence group Finmeccanica (notified March 31/deadline May 11/simplified)

June 1

-- French telecoms operator Orange to acquire Spanish provider Jazztel (notified Oct. 16/new deadline June 1 after Commission lifts deadline suspension)

-- Mondelez International Inc and competitor D.E Master Blenders to merge their coffee businesses in new company called Jacobs Douwe Egberts (notified Oct. 27/deadline extended for the fourth time to June 1 from May 13)

June 26

-- PRS for Music Ltd (PRSfM), Foreningen Svenska Tonsattares Internationella Mysikbyra (Stim) and Gesellschaft für musikalische Aufführungs- und mechanische Vervielfältigungsrechte (Gema) to set up a joint venture to administer mechanical and performing rights (notified Nov. 28/deadline June 26/companies offer commitments on March 13)

July 8

-- Commodities trader Cargill to buy rival Archer Daniels Midland Co's global chocolate business (notified Jan. 19/deadline extended to July 8 from Feb. 23 after the European Commission opened an in-depth investigation)

Aug 6

-- U.S. conglomerate General Electric to acquire most of French engineering group Alstom's power equipment business (notified Jan. 19/deadline extended for the second time to Aug. 6 from July 8 after GE asked for more time)

Suspended

-- German conglomerate Siemens to purchase U.S. oilfield equipment maker Dresser-Rand Group Inc (notified Jan. 9/deadline suspended on March 19 following a request for information)

-- SOCAR, Azerbaijan's state energy company, to buy stakes in Greek natural gas grid operator DESFA from Greek natural gas utility 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 working days to 35 working days, to consider either a company's proposed remedies 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 the clearance of uncontroversial first-stage mergers without giving any reason for its decision. Cases may be reclassified as non-simplified - that is, ordinary first-stage reviews - until they are approved. (Compiled by Foo Yun Chee)

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