November 3, 2014 / 3:58 PM / 4 years ago

EU mergers and takeovers (Nov 3)

BRUSSELS, Nov 3 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:


— French mutual BPCE, which is part of French bank Natixis , to acquire 49.9 percent of five subsidiaries of La Compagnie du Soleil and La Compagnie du Vent, which is jointly owned by French utility GDF Suez and Soper (approved Nov. 3)

— Private equity firm Apollo Management to buy Portuguese insurer Companhia de Seguros Tranquilidade (approved Nov. 3)


— Malaysian palm oil producer Sime Darby Bhd to acquire New Britain Palm Oil Ltd (notified Oct. 31/deadline Dec. 5/simplified

— U.S. chemicals company Eastman Chemical Co to buy U.S. peer Taminco Corp (notified Oct. 31/deadline Dec. 5/simplified)

— Private equity firm Vista Equity Partners to buy U.S. business software maker Tibco Software Inc (notified Oct. 31/deadline Dec. 5/simplified)

— French insurer CNP Assurances S.A. to acquire 51 percent of Santander Insurance Life Ltd, Santander Insurance Europe Ltd and Santander Insurance Services Ireland Ltd from Spanish bank Santander’s (notified Oct. 30/deadline Dec. 4/simplified)





— 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 Nov. 5)

NOV 12

— Aerospace group Airbus and French engine maker Safran to set up a joint venture (notified Oct. 8/deadline Nov. 12)

NOV 13

— Investment firm Strategic Value Partners to acquire Linpac Senior Holdings Ltd, the parent company of plastic packager Linpac Packaging Ltd (notified Oct. 9/deadline Nov. 13/simplified)

— Chemicals company Albemarle to buy specialty chemicals producer Rockwood Holdings Inc (notified Oct. 9/deadline Nov. 13)

NOV 14

— Mexican chemicals producer Mexichem to buy German plastic maker Vestolit (notified Oct. 10/deadline Nov. 14)

— Dutch mutual fund APG and Hammerson to acquire joint control of property developer Via from property developers SDMG and the Meyer Bergman Group (notified Oct. 10/deadline Nov. 14/simplified)

— Japanese trucks maker Hino Motors Ltd, which is a unit of Toyota Motors Corp, Indonesian car distributor Indomobil and Japanese trading house Sumitomoto Corp to set up a joint venture in Indonesia (notified Oct. 10/deadline Nov. 14/simplified)

— U.S. medical device maker Medtronic Inc to acquire Irish peer Covidien (notified Oct. 10/deadline Nov. 14)

NOV 17

— Abu Dhabi-based Etihad Airways to acquire 49 percent stake in Italian airline Alitalia (notified Sept. 29/deadline extended to Nov. 17 from Nov. 3 after commitments submitted Oct. 27)

— Private equity firm KKR and German insurer Allianz to acquire indirect joint control of vending machine operator Selecta (notified Oct. 13/deadline Nov. 17)

NOV 18

— Property developer RREEF, a unit of Deutsche Bank , and German property consultancy ECE to jointly acquire properties (notified Oct. 14/deadline Nov. 18)

NOV 20

— Private equity firm TDR Capital to acquire British housing developer Lakeside Ltd (notified Oct. 16/deadline Nov. 20/simplified)

— French telecoms operator Orange to acquire Spanish provider Jazztel (notified Oct. 16/deadline Nov. 20)

NOV 21

— Macquarie Infrastructure and Real Assets (Europe) Ltd and Spanish transport services provider Ferrovial Aeropuertos S.A.U. which is part of Spanish builder Ferrovial, to acquire joint control of British airport operator Airport Holdings NDH1 from Heathrow Airports Holdings Ltd (notified Oct. 17/deadline Nov. 21)

— British insurer Aviva and Polish bank BZ WBK to set up a joint venture (notified Oct. 17/deadline Nov. 21/simplified)

NOV 24

— South Korea’s Lotte Chemical Corp to acquire Versalis Elastomers Co. Ltd, which is a joint venture between Italian energy group ENI subsidiary Versalis and Lotte (notified Oct. 20/deadline Nov. 24/simplified)

NOV 26

— Chinese conglomerate Fosun to purchase French holiday group Club Mediterranee (notified Oct. 22/deadline Nov. 26/simplified)

— Private equity firm Blackstone to acquire Alliance Automotive from Weinberg Capital Partners (notified Oct. 22/deadline Nov. 26)

NOV 28

— Canadian pension fund Ontario Teachers’ Pension Plan to acquire minority stake in laundry solutions company CSC ServiceWorks from private equity firm Pamplona Capital Management (notified Oct. 24/deadline Nov.28/simplified)

— Spanish insurance company Mapfre to buy the Italian and German businesses of Direct Line, Britain’s largest motor insurer (notified Oct. 24/deadline Nov. 28/simplified)


— Dutch insurer Aegon to acquire a 51 percent stake in Spanish insurers Aegon Santander Vida and Aegon Santander Nao Vida, which are now solely owned by Spanish bank Santander (notified Oct. 27/deadline Dec. 1/simplified)

— 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 Dec. 1)

— Oil major BP to acquire jet fuel business Statoil Fuel and Retail Aviation (notified Oct. 27/deadline Dec. 1)


— U.S. car seat and electrical power systems maker Lear Corp to acquire car leather producer Eagle Ottawa LLC from priva<te investment firm Everett Smith Group Ltd (notified Oct. 28/deadline Dec. 2/simplified)

DEC 15

— France’s Lafarge and Swiss peer Holcim to merge (notified with commitments on Oct. 27/deadline Dec. 15)


— Belgian telecoms group Telenet to acquire 50 percent stake in Belgian broadcasting company De Vijver Media (notified Aug. 18/deadline extended for the second time to March 5 from Feb. 5)


— U.S. orthopaedic products maker Zimmer Holdings to acquire rival Biomet Inc (notified Aug. 29/deadline extended for the second time to March 11 from Feb. 16)


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. (Editing by Foo Yun Chee)

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