March 13, 2018 / 7:27 PM / a year ago

EU mergers and takeovers (March 13)

BRUSSELS, March 13 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:


— German steel company ELG Haniel and and Spanish peer Iberinox 88 SA to set up a joint venture (approved March 12)

— Caisse de depot et placement du Quebec and IFM Investors to take joint control of Mexican toll road operator Conmex (approved March 12)

— Goldman Sachs and Centerbridge Partners to acquire joint control of Polish real estate developer Robyg (approved March 12)


— U.S. aerospace and industrial company United Technologies Corp to acquire avionics maker Rockwell Collins (notified March 12/deadline April 19)

— Cerberus Capital Management to acquire Spanish bank BBVA’s real estate business (notified March 9/deadline April 18/simplified)

— U.S. auto parts retailer LKQ Corp to acquire German peer Stahlgruber (notified March 9/deadline April 18)

— U.S. conglomerate GE and Russia oil and natural gas producer Rosneft to set up a joint venture (notified March 7/deadline April 16/simplified)

— Investment management firm 3I to acquire Dutch personal care products maker SITS Holding B.V. (notified March 1/deadline April 10/simplified)


— Luxembourg-based steelmaker ArcelorMittal to acquire Italian steel plant (notified Sept. 21/deadline extended to April 25 from April 19)



— Private equity firm Lone Star to acquire Nordic building materials distributor Stark from British company Ferguson (notified Feb. 7/deadline March 14)


— Canada’s Brookfield Business Partners to acquire a controlling stake in plastic packaging maker Schoeller Allibert from an indirect subsidiary of JPMorgan Chase & Co (notified Feb. 8/deadline March 15/simplified)


— Chemicals company Quaker Chemical Corp and Hinduja Group’s Houghton Internatioal to merge (notified Feb. 2/deadline extended to March 23 from March 9 after the companies provided concessions)

— Canada Pension Plan Investment Board (CPPIB) and holding company BHL Holdings Ltd to acquire joint control of BGL (Holdings) Ltd which owns several price comparison websites (notified Feb. 16/deadline March 23/simplified)


— APMH Invest, which is a subsidiary of Danish shipper AP Moeller Maersk, and Mitsui & Co to set up a joint venture Maersk Product Tankers (notified Feb. 20/deadline March 27/simplified)

— Marubeni Itochu Steel and Sumitomo Corp to acquire joint control of Hiroshima Steel Center Ltd, which is a unit of Marubeni Itochu Steel (notified Feb. 20/deadline March 27/simplified)


— French private equity firm Ardian to acquire resin maker DRT (notified Feb. 21/deadline March 28/simplified)

— Diamond Transmission Corp, which is a unit of Mitsubishi Corp and investment vehicle IIO1, and Infrared Capital Partners to set up a joint venture (notified Feb. 21/deadline March 28/simplified)


— Private equity firm Advent International to acquire French telephony products distributor Circet Groupe (notified Feb. 22/deadline April 3/simplified)


— Swiss luxury goods group Richemont to acquire e-commerce portal Yoox Net-A-Porter Group (notified Feb. 23/deadline April 4/simplified)

— Chinese conglomerate Fosun to acquire German pension insurer Pro Bav Pensionskasse (notified Feb. 23/deadline April 4/simplified)

— Austrian company Borealis, Canada’s Nova Chemicals and French oil and gas major Total to set up a joint venture (notified Feb. 23/deadline April 4/simplified)


— Private equity firm KKE to acquire UK car parts maker Tekfor (notified Feb. 26/deadline April 5/simplified)

— U.S. specialty material company Celanese and private equity firm Blackstone to combine their cellulose acetate tow units under a new joint venture (notified Sept. 9/deadline extended to April 5 from March 26)

— German industrial group Bayer to acquire U.S. seeds company Monsanto (notified June 30/deadline extended to April 5 from March 12 after Bayer offered concessions)


— Private equity firm KKR to acquire Anglo-Dutch consumer products group Unilever’s margarine and spreads business (notified Feb. 27/deadline April 6/simplified)


— U.S. software company IBM and Danish shipping company Maersk to set up a joint venture (notified Feb. 28/deadline April 9/simplified)

— Private equity firm Platinum Equity Group to acquire U.S. hotelier Wyndham Worldwide Corp’s European vacation rental business (notified Feb. 28/deadline April 9/simplified)


— Australian investment bank Macquarie Group to acquire Danish telecoms company TDC (notified March 1/deadline April 10/simplified)


— Apollo Capital Management and JSW Steel Limited to take joint control of Monnet Ispat Energy Limited (notified March 2/deadline April 11/simplified)

— Private equity firm Equistone Partners Europe to acquire French leisure travel services providers Fram and Karavel (notified March 2/deadline April 11/simplified)

— French oil and gas major Total to acquire part of French gas and power group Engie’s liquified natural gas business (notified March 2/deadline April 11)


— Germany’s BASF to acquire businesses from Bayer (notified March. 7/deadline April 16)

— Lenovo Group and Fujitsu to set up a joint venture whereby Lenovo acquires a majority stake in certain assets of Fujitsu’s PC business (notified March 7/deadline April 16)

— Strategic Value Partners to take control of polyurethane foam maker Vita Group (notified March. 7/deadline April 16/simplified)


— South African chemicals company Tronox to acquire the titanium dioxide business of Cristal, a subsidiary of Saudi Arabia’s Tasnee (notified Nov. 15/deadline extended to June 7)


— German industrial gases group Linde to merge with U.S. peer Praxair (notified Jan. 12/ deadline extended to July 18 from July 4)


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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