August 30, 2018 / 3:03 PM / 10 months ago

EU mergers and takeovers (Aug 30)

BRUSSELS, Aug 30 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:


— Canadian real estate investor Ivanhoe Cambridge, which is a subsidiary of Canadian pension manager Caisse de depot et placement du Quebec, and Canada’s Public Sector Pension Investment Board to recapitalise several Ivanhoe limited partnerships (approved Aug. 30)

— Canadian real estate investor Ivanhoe Cambridge and Canada’s Public Sector Pension Investment Board to set up a joint venture (approved Aug. 30)

— Asset manager Carlyle Group to acquire Dutch chemicals and paints company Akzo Nobel’s chemicals business (approved Aug. 28)


— U.S. plane maker Boeing to acquire aerospace parts company KLX (notified Aug. 29/deadline Oct. 3)

— Canada’s Public Sector Pension Investment Board and Canadian institutional investor British Columbia Investment Management Corporation (BCI) to acquire joint control of Canadian forest product company Island Timberlands (notified Aug. 27/deadline Oct. 1/simplified)

— Private equity firm EQT Fund Management to acquire Luxembourg specialty chemicals and food ingredients distributor Azelis (notified Aug. 27/deadline Oct. 1/simplified)

— German alphalt maker Deutsche Asphalt, which is a subsidiary of Austrian construction company Strabag, and German road construction company Bunte to set up a joint venture (notified Aug. 21/deadline Sept. 25/simplified)

— Private equity firm Advent International to acquire General Electric’s distributed power business (notified Aug. 20/deadline Sept. 24/simplified)




AUG 31

— HK conglomerate CK Hutchison to acquire sole control of Italian mobile network Wind Tre from Dutch mobile operator Veon (notified July 12/deadline extended to Aug. 31 from Aug. 17 after Hutchison offered concessions)


— Luxembourg investment company JAB Holding Co S.a.r.l. to acquire British food outlet Pret a Manger IPO-PRET.L (notified July 31/deadlinie Sept. 5)


— Italian gas company Spigas, which is controlled by Germany’s EnBW Energie BadenWürttemberg, and Italian peer Canarbino to acquire joint control of Italian gas company Miogas (notified Aug. 7/deadline Sept. 12/simplified)


— German car parts supplier ZF Friedrichshafen, German car brakes maker Gustav Magenwirth, German bike brakes maker Brake Force One GmbH and German car battery company Batterien-Montage-Zentrum GmbH to set up a joint venture (notified Aug. 8/deadline Sept. 13/simplified)


— French transport company Keolis and British infrastructure asset management company Amey to acquire joint control of British passenger rail services company W&B Rail Franchise (notified Aug. 9/deadline Sept. 14/simplified)


— International Flavors & Fragrances Inc to acquire Israeli flavours and ingredients maker Frutarom (notified Aug. 10/deadline Sept. 17/simplified)


— iPhone maker Apple to acquire UK music streaming service Shazam (notified March 14/deadline extended to Sept. 18 from Sept. 4 after the companies asked for more time)


— German carmaker Volkswagen’s Italian car dealer Eurocar to acquire Italian peer Vicentini (notified Aug. 14/deadline Sept. 19)

— Private equity firm KKR to acquire U.S. business software company BMC Software (notified Aug. 14/deadline Sept. 19/simplified)

— French carmaker PGA Motors and Fiber to acquire joint control of auto dealer and car parts distributor Bernard Participations (notified July 31/deadline extended to Sept. 19 from Sept. 5 after the French competition authority asked to take over the case)


— Norwegian investment company Akastor, Japanese trading company Mitsui & Co and Japanese container shipping company Mitsui OSK Lines to acquire joint control of subsea oil and gas services company Akofs Offshore (notified Aug. 16/deadline Sept. 20/simplified)


— U.S. pharmaceutical company Biogen and South Korean peer Samsung BioLogics to have joint control of South Korean drugmaker Samsung Bioepis to set up a joint venture (notified Aug. 17/deadline Sept. 21/simplified)

— Norwegian aluminium maker Norsk Hydro to acquire some of Anglo-Australian mining company Rio Tinto’s aluminium production assets (notified Aug. 17/deadline Sept. 21)


— French energy company Total to acquire gasd turbine power plant operators Pont Sur Sambre Power and Toul Power (notified Aug. 20/deadline Sept. 24/simplified)

— Real estate investment fund DV4, Dutch pension fund ABP and Canada’s Ontario Municipal Employees Retirement System Primary Pension Plan to set up a British property joint venture (notified Aug. 20/deadline Sept. 24/simplified)


— U.S. private equity fund Charlesbank Partners Group to acquire joint control of contract food maker H-Food Holdings and the Hearthside group of companies (notified Aug. 22/deadline Sept. 26/simplified)


— Kuwait’s sovereign wealth fund Kuwait Investment Authority to acquire oil and gas pipeline firm North Sea Midstream Partners from private equity firm ArcLight Capital (notified Aug. 23/deadline Sept. 27/simplified)

— U.S. planemaker Boeing and French aerospace company Safran to set up a joint venture to make and service aircraft auxiliary power units (notified Aug. 23/deadline Sept. 27)


— Private equity firm KKR and French telecoms provider Altice to acquire joint control of Altice’s French subsidiary SFR Filiale (notified Aug. 24/deadline Sept. 28/simplified)

— U.S. management company Abry Partners to acquire Norwegian A2P messaging company Link Mobility ASA (notified Aug. 24/deadline Sept. 28/simplified)

NOV 30

— Deutsche Telekom to acquire Swedish peer Tele2’s Dutch unit and merge it with its Dutch business T-Mobile Nederland (notified May 2/deadline Nov. 30 after deadline suspension ended Aug. 6)

DEC 13

— Copper company KME, which is part of Intek Group , to acquire German peer MKM Mansfelder Kupfer and Messing GmbH (notified June 4/deadline extended to Dec. 13 from Nov. 29 after the companies asked for more)


— German copper products maker Wieland-Werke to acquire German copper smelter Aurubis’ flat rolled products unit Products Schwermetall (notified June 13/deadline extended to Jan. 3 from Dec. 10 after the companies asked for more time)


— French aerospace and defence group Thales to acquire Franco-Dutch chipmaker Gemalto (notified June 18/deadline extended to Jan. 8 from Nov. 29 from July 23 after the companies asked for more time)


— Siemens and Alstom to merge their railway operations (notified June 8/deadline suspended on Aug. 7)

— German company BASF to acquire Belgian chemicals company Solvay’s worldwide polyamide business (notified May 22/deadline suspended on July 17)


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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