January 20, 2015 / 5:23 PM / in 3 years

EU mergers and takeovers (Jan 20)

BRUSSELS, Jan 20 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Private equity firm Rhone Capital and investment bank Goldman Sachs to acquire joint control of logistics provider Neovia (approved Jan. 16)

-- Wood products retailer Oji Holdings and petroleum products retailer Itochu Enex Co. Ltd to set up two joint ventures in Japan (approved Jan. 16)

-- Mitsubishi Heavy Industries and Mitsubishi Corp to transform their joint venture MHI Compressor International Corp to a full function joint venture (approved Jan. 9)

-- Investment firm Apollo Management to acquire Italian insurer Carige (approved Dec. 17)

NEW LISTINGS

-- U.S. conglomerate General Electric to acquire most of French engineering group Alstom’s power equipment business (notified Jan. 19/deadline Feb. 23)

-- Commodities trader Cargill to buy rival Archer Daniels Midland Co’s global chocolate business (notified Jan. 19/deadline Feb. 23)

-- German DIY retailer OBI to acquire a joint venture led by Brico Business Cooperation (notified Jan. 19/deadline Feb. 23/simplified)

-- French minerals company Imerys to acquire rival S&B Minerals (notified Jan. 15/deadline Feb. 20)

-- Swiss telecoms provider Swisscom and car leasing company Sixt to set up a joint venture (notified Jan. 15/deadline Feb. 19/simplified)

-- Canadian asset manager Brookfield Infrastructure Fund to acquire broadcasting and wireless telecom infrastructure platform operator TDF S.A.S.(notified Jan. 14/deadline Feb. 18/simplified)

-- Private equity firm Apax Partners to acquire Scandinavian IT services provider Evry (notified Jan. 13/deadline Feb. 17/simplified)

-- Private equity firm Bain Capital to acquire clay and concrete products maker Ibstock Group (notified Jan. 12/deadline Feb. 16/simplified)

EXTENSIONS AND OTHER CHANGES

-- French telecoms operator Orange to acquire Spanish provider Jazztel (notified Oct. 16/deadline extended to April 30 from April 24 after the Commission resumed its scrutiny after a four-day halt)

-- 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 extended to May 29 from Jan. 14 after the Commission opened an in-depth probe)

FIRST-STAGE REVIEWS BY DEADLINE

JAN 26

-- Malaysian palm oil producer Sime Darby to acquire London-listed company New Britain Palm Oil (notified Oct. 31/deadline Jan. 26)

JAN 28

-- French chemicals producer Arkema to purchase Blu-Tack maker Bostik from French oil major Total (notified Dec. 12/deadline Jan. 28)

-- Generic drugmaker Mylan Inc to purchase Abbot Laboratories’ specialty and branded generics business outside the United States (notified Nov. 28/deadline Jan. 28)

-- Swiss drugmaker Novartis to acquire British peer GlaxoSmithKline’s oncology products (notified Nov. 28/ deadline Jan. 28)

-- British drugmaker GlaxoSmithKline to acquire Novartis’ vaccines business, excluding Flu, and the setting up of a consumer healthcare joint venture (notified Nov. 28/deadline Jan. 28)

JAN 29

-- Qatar Investment Authority and Brookfield Property Partners to jointly acquire Songbird Estates plc which owns London’s Canary Wharf financial district (notified Dec. 15/deadline Jan. 29/simplified)

FEB 5

-- 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)

FEB 6

-- Itochu Corp, Century Tokyo Leasing Corp plan to acquire, together with Hitachi Group, joint control of PT Hitachi Construction Machinery finance Indonesia. (notified Dec. 23/deadline Feb 6/simplified)

FEB 9

-- Proposed joint venture for 1 gigawatt “Nemo” power link between Belgium and Britain between Britain’s National Grid and Belgium’s transmission system operator Elia (notified Jan. 5/deadline Feb. 9/simplified)

FEB 12

-- European private equity firm CVC Capital Partners to buy Finnish insulation material maker Paroc for enterprise value of some 700 million euros. (notified Jan. 8/deadline Feb. 12)

FEB 13

-- German conglomerate Siemens to purchase U.S. oilfield equipment maker Dresser-Rand Group Inc (notified Jan. 9/deadline Feb. 13)

-- Japanese building materials and housing equipment group LIXIL Group Corp to take sole control of sanitory fittings group Grohe (notified Jan. 9/deadline Feb 13/simplified)

FEB 16

-- Bain Capital investors to acquire British brickmaker Ibstock Group from Irish buidling supplies group CRH (notified Jan. 12/deadline Feb. 16/simplified)

MARCH 5

-- Belgian telecoms group Telenet, which is a subsidiary of U.S. cable group Liberty Global, 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/companies submitted concessions on Nov. 24)

APRIL 22

-- 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 extended for the second time to April 22 from March 23)

MAY 6

-- 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 second time to May 6 from Dec. 15 the Commission opened an in-depth probe)

SUSPENDED

-- U.S. orthopaedic products maker Zimmer Holdings to acquire rival Biomet Inc (notified Aug. 29/deadline suspended from Dec. 2, 2014)

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. (Editing by Foo Yun Chee)

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