May 19, 2017 / 5:49 PM / a year ago

EU mergers and takeovers (May 19)

BRUSSELS, May 19 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:


— U.S. packaging company WestRock to acquire U.S. peer Multi Packaging Solutions (approved May 18)

— Italian cinema operator The Space Cinema, which is controlled by Vue International Holdco Ltd, and Italian peer UCI Italian S.p.A. which is part of Chinese conglomerate Dalian Wanda Group, to set up a joint venture (approved May 18)

— Investment companies TPG and Oaktree to take joint control over Britain’s Iona Energy Co, which owns 75 percent of two undeveloped oil fields in the North Sea and that will be active in crude oil production and sale (approved May 18)

— French aircraft engine and aerospace equipment company Safran and China Eastern Airlines Co. Ltd. to form joint venture to provide aircraft maintenance in China (approved May 18)

— Energy company Electricite de France, French state-owned bank Caisse des depots et consignations and Japan’s Mitsubishi Corporation to create a joint venture NGM to finance electric mobility projects mainly in France (approved May 18)


— Chinese conglomerate HNA Holding Group Co to acquire Singapore-listed logistics company CWT (notified May 18/deadline June 27/simplified)

— Buyout firm Blackstone and Canada Pension Plan Investment Board (CPPIB) to acquire indirect joint control of U.S. educational content provider Ascend Learning (notified May 18/deadline June 27/simplified)




MAY 22

— Investment firms Cinven Capital Management and Canada Pension Plan Investment Board to acquire joint control of Travel Holdings Parent Corporation (notified April 10/deadline May 22)

MAY 29

— French EDF to acquire equipment and fuel manufacturing company Areva (notified April 18/deadline May 29)

MAY 30

— French media group Vivendi to acquire de facto sole control of Italy’s Telecom Italia (notified March 31/deadline extended to May 30 from May 12 after Vivendi offered concessions)

MAY 31

— Manufacturing and technology company General Electric’s Oil & Gas to acquire oilfield services company Baker Hughes (notified April 20/deadline May 31)


— Waste water company SGAB and Spanish infrastructure company Acciona to acquire 10 percent of Sociedad Concesionaria de la Zona Regable del Canal de Navarra (notified April 21/deadline June 1/simplified)


— Australian bank Macquarie and British pension fund Universities Superannuation Scheme to acquire Green Investment Bank (notified April 24/deadline June 2/simplified)


— German company CWS-Boco, which is part of German firm Haniel, to acquire some of British support services firm Rentokil’s workwear and hygiene units (notified April 26/deadline June 7)


— German chemicals company Evonik Industries to acquire U.S. company J.M. Huber Corp’s silica business (notified April 27/deadline June 8)


— Private equity firm Hellman & Friedman to acquire Spanish logistics platform Allfunds Bank (notified April 28/deadline June 9/simplified)

— U.S. smartphone chipmaker Qualcomm to acquire Dutch companyr NXP Semiconductors NV (notified April 28/deadline June 9)

— Chinese textiles company Shanghai Shenda to acquire International Automotive Components Group’s trim and acoustics unit business (notified April 24/deadline June 9/simplified)


— American healthcare company Johnson & Johnson to acquire Swiss biotech company Actelion (notified April 12/deadline extended to June 12 from May 24 after the companies offered concessions)

— Norwegian debt collection agency Nordic Capital, which is majority owned by Nordic Capital Fund VIII and Swedish peer firm Intrum Justitia to merge (notified April 12/deadline extended to June 12 from May 24 after the companies offered concessions)


— Private equity firms BC Partners and Pollen Street Capital Ltd to jointly acquire UK bank Shawbrook Group plc (notified May 4/deadline June 14/simplified)


— U.S. private equity firm Leonard Green & Partners and the Ontario Municipal Employees Retirement System Primary Pension Plan (OMERS) to acquire joint control of U.S. car repairs company OPE Caliber Holdings (notified May 5/deadline June 15/simplified)

— Austrian refractories materials maker RHI to acquire a controlling stake in Brazilian peer Magnesita Refratarios (notified May 5/deadline June 15)


— Investment bank Goldman Sachs and French investment company Eurazeo to jointly acquire Dominion Web Solutions (notified May 12/deadline June 21/simplified)

— French private equity company Ardian France and real estate agent Jones Lang LaSalle Inc to jointly acquire an office building in France (notified May 12/deadline June 21/simplified)

— French minerals company Imerys to acquire French calcium aluminate cements maker Kerneos (notified May 12/deadline June 21)


— German online fashion retailer Zalando and fashion company Bestseller United to set up a joint venture (notified May 15/deadline June 22/simplified)


— Private equity firms Advent International and Bain Capital Investors to jointly acquire payment services company RatePAY (notified May 17/deadline June 26/simplified)

— Private equity firm Oaktree to acquire German nursing care provider Vitanas P&W (notified May 17/deadline June 26/simplified)


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. (Reporting by Foo Yun Chee)

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