April 21, 2016 / 6:07 PM / 2 years ago

EU mergers and takeovers (April 21)

BRUSSELS, April 21 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:


— Austria’s Erste Group Bank and U.S. company Global Payments Inc to acquire joint control of Global Payments s.r.o. (approved April 19)

— Worldline to acquire PaySquare and Equens (approved April 20)

— U.S. seeds and chemical maker Dow Chemical Co to acquire sole control of Dow Corning which is currently a joint venture between Dow and U.S. glass maker Corning (approved April 20)

— U.S. private equity firm Rhone Capital to acquire a controlling stake in Garda World Security which is now solely controlled by UK private equity firm Apax Partners LLP (approved April 20)

— Japan’s Sumitomo Corp to acquire a stake in Brazilian energy and logistics company Cosan SA (approved April 20)


— Property developer Segro and Canada’s Public Sector Pension Investment Board to jointly acquire logistics assets in the Czech Republic and Italy, which are now solely controlled by Segro (notified April 18/deadline May 27/simplified)

— U.S. private equity firm Starwood Capital Group and Banco Sabadell to set up a joint venture to invest in hotels(notified April 15/deadline May 26/simplified)


— CK Hutchison Holdings Ltd and Vimpelcom to merge their Italian mobile operations (notified Feb. 5/deadline extended to Aug 18 from Aug. 10 after the companies asked for more time)



— Belgian steel wire maker NV Bekaert SA and Ontario Teachers’ Pension Plan Board to jointly control a wire rope business (notified March 16/April 25)

— UK private equity firm EQT to acquire Swiss travel company Kuoni Travel notified March 16/deadline April 25)


— French container shipping giant CMA CGM to acquire Singaporean rival Neptune Orient Lines (notified March 8/deadline extended to April 29 from April 15 after CMA offers concessions)


— Industrial rubber maker Trelleborg to buy privately-owned Czech CGS Holding (notified March 30/deadline May 4)

MAY 11

— Swiss-based chemicals producer INEOS to acquire some of chemicals maker Celanese Corp’s assets (notified April 1/deadline May 11)

— HeidelbergCement to acquire Italian peer Italcementi (notified April 1/deadline May 11)

— British drugmaker Shire to acquire U.S. peer Baxalta (notified April 1/deadline May 11/simplified)

— Denmark to acquire sole control of Danish energy company Dong IPO-DONG.CO, which it now jointly owns with investment bank Goldman Sachs (notified April 1/deadline May 11/simplified)

MAY 12

— Luxembourg investment company Pacific Mezz and private equity firm Oaktree to jointly acquire Luxembourg leaser of rolling stock Railpool (notified April 4/deadline May 12/simplified)

— U.S. rail equipment maker Wabtec Corp to acquire French peer Faiveley Transport SA (notified April 4/deadline May 12)

— Austrian energy group OMV to acquire sole control of Austrian gas distributor EconGas (notified April 4/deadline May 12/simplified)

MAY 13

— Dutch pension fund APG and Qatar Diar Real Estate Investment Company which is owned by the Qatar Investment Authority, to set up a joint venture to develop properties in Britain (notified April 5/deadline May 13/simplified)

MAY 17

— Investment fund Gilde to acquire Dutch agriculture equipment maker Royal Reesink (notified April 6/deadline May 17/simplified)

— Saint-Gobain and Corning to set up a joint venture to produce lightweight glazing for the car industry (notified April 6/deadline May 17)

MAY 19

— Hutchison Whampoa to acquire Telefonica’s O2 UK subsidiary (notified Sept. 11/deadline extended to May 19 from April 22 after Hutchison offered concessions)

MAY 24

— Private equity firm Towerbrook Capital Partners to acquire information provider Infopro Digital (notified April 13/deadline May 24)

— Brewer Anheuser-Busch InBev to acquire rival SABMiller (notified March 30/deadline extended to May 24 from May 4 after AB Inbev offers concessions)

MAY 25

— Canadian investment firm CPPIB and infrastructure investment firm GIP to jointly acquire Australian company Asciano’s Pacific National business which consists of freight haulage services in Australia (notified April 14/deadline May 25/simplified)

MAY 26

— U.S. private equity firms Warburg Pincus and General Atlantic, Italian lender Unicredit and Spanish bank Santander to combine the asset management business of SAM Investment Holdings Limited and Pioneer Global Asset Management S.p.A.(notified April 15/deadline May 26)

MAY 27

— Finnish retailer Kesko to acquire building products supplier Onninen (notified April 18/deadline May 27)


— Airbus Safran Launchers, a 50/50 joint venture between Airbus and Safran, to acquire sole control of satellite group Arianespace (notified on Jan. 8/deadline extended to July 27 from July 12 after the companies asked for more time)

AUG 11

— Oilfield services provider Halliburton to buy rival Baker Hughes in a stock and cash transaction (notified Nov. 27/deadline set for Aug. 11 after the companies provided more data)


— 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 Brussels newsroom)

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