May 27, 2015 / 11:57 AM / 3 years ago

EU mergers and takeovers (May 27)

BRUSSELS, May 27 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:


— Private equity firm KKR to acquire negative control rights in online fantasy sports services FanDuel Ltd, which is jointly owned by Comcast, Pentech Fund II Ltd Partnership, Piton Capital Venture Fund, Scottish Enterprise and Shamrock Capital Growth Fund (approved May 27)

— Bermuda-based reinsurer ParterRe Ltd and Axis Capital Holdings Ltd to merge (approved May 26)

— Deprez Holding to acquire a controlling stake in food processor Greenyard Foods which is now jointly controlled by food and vegetable supplier Univeg Holding BV and horticulture producer Peatinvest NV (approved May 22)


— French investment fund LBO France to acquire control of clothing retailer IKKS (notified May 22/deadline June 29/simplified)

— Canada Pension Plan Investment Board to acquire joint control of British port operator ABP together with infrastructure investor Borealis and Singapore state-owned investment vehicle GIC Pte Ltd (notified May 22/deadline June 29/simplified)

— Private equity firm Permira and investment fund Canada Pension Plan Investment Board to jointly acquire U.S. software company Informatica (notified May 21/deadline June 26/simplified)

— DCC Holding A/S, which is a subsidiary of Irish company DCC Plc, and DLG Service A/S, which is unit of Danish cooperative DLG Group, to combine their Danish energy businesses (notified May 21/deadline June 26)


— German drugs and chemicals maker Merck KGaA to acquire U.S. peer Sigma-Aldrich (notified April 21/deadline extended to June 15 from June 1 after Merck offered concessions)

— Commodities trader Cargill to buy rival Archer Daniels Midland Co’s global chocolate business (notified Jan. 19/deadline Aug. 6/Cargill offers concessions on May 22)

— German food group Dr Oetker to acquire German frozen cake copany Coppenrath & Wiese (notified March 20/deadline June 19/simplified/notification withdrawn on April 25)



— Investment funds Equistone Partners Europe to acquire storage solutions maker Groupe Averys (notified April 27/deadline June 5/simplified)


— Private equity firm Advent International to acquire Austrian bank Hypo Group Alpe Adria AG (HGAA) (notified April 28/deadline June 8/simplified)


— Chemical holding company International Chemical Investors Group to buy Switzerland-based Ineos’ chlorovinyls business (notified April 29/deadline June 9)

— Private equity firms IDeA Capital Funds SGR S.p.A, IP Investimenti e Partecipazioni S.r.l. and Hunt Capital S.A. to jointly acquire orthopaedic products maker Corin Group PLC (notified April 29/deadline June 9/simplified)


— Singapore-based commodities firm Olam International Ltd to aquire Archer Daniels Midland Co’s cocoa business (notified April 30/deadline June 10)


— U.S. flooring products maker Mohawk Industries to buy Luxembourg-based International Flooring Systems (notified March 2/deadline extended to June 11 from May 28 after the companies offered concessions)

— U.S. metals company Alcoa to acquire U.S. titanium supplier RTI International Metals (notified May 4/deadline June 11)

— U.S. packaging company Plastipak to acquire Spanish peer Appe Packaging Inc(notified May 4/deadline June 11)


— Steel producers Feralpi Siderurgica and Duferco, which is part of Swiss-based Duferco International Trading Holding, to acquire Italian peer Lucchini SpA Servola SpA (notified May 7/deadline June 16/simplified)


— Canada Life Group UK Ltd, which is a unit of Great-West Lifeco Inc, to acquire Irish insurer Legal & General International (Ireland) Ltd, which is a unit of British insurer Legal & General Group (notified May 11/deadline June 18/simplified)


— Finnish energy company Stl to acquire joint control of aviation Fuelling Service Norway AS, which is part of oil producer Royal Dutch Shell Keele Oy (notified May 12/deadline June 19)


— Singapore’s Flextronics to acquire French telecoms company Alcatel-Lucent’s Italian assets (notified May 13/deadline June 22/simplified)

— U.S. telecoms equipment maker CommScope Holding Co Inc to buy Swiss electronics firm TE Connectivity’s network gear business BNS (notified May 13/deadline June 22)


— U.S. private equity firm Lindsay Goldberg to acquire German metal producer VDM Metals group (notified May 18/deadline June 23/simplified)

— German car parts maker Mahle Behr to acquire U.S. car parts maker Delphi’s Thermal Systems unit (notified May 18/deadline June 23)


— Public Sector Pension Investment Board and Ontario Teachers’ Pension Plan Board to jointly acquire Tonopah Solar Energy Holdings (notified May 19/deadline June 24/simplified)


— 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)


— German conglomerate Siemens to purchase U.S. oilfield equipment maker Dresser-Rand Group Inc (notified Jan. 9/deadline July 24)

AUG 21

— U.S. conglomerate General Electric to acquire most of French engineering group Alstom’s power equipment business (notified Jan. 19/deadline extended for the third time to Aug. 21 from Aug. 6)


— Norwegian telecoms company Telenor and Swedish peer TeliaSonera to combine their Danish mobile businesses (notified Feb. 27/deadline extended to Sept. 2 from Aug. 19 after the companies asked for more time)


— 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)


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.


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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