EU mergers and takeovers (Oct 19)

By Reuters / October 20, 2018 / in.investing.com / Article Link

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

APPROVALS AND WITHDRAWALS

-- U.S. software company Microsoft Corp MSFT.O to buy privately held coding website GitHub Inc (approved Oct. 19)

-- Irish investor aircraft and asset manager ORIX Aviation Systems Limited to acquire 30 percent of Irish aircraft leasing company Avolon Holdings Limited, a subsidiary of Chinese leasing group Bohai Capital Holding 603167.SS (approved Oct. 18)

NEW LISTINGS

-- French public sector lender Caisse des Depots Group and Consignations (CDC), insurer Swiss Life SLHN.S and French rail company SNCF Group to acquire joint control of real estate company Fonciere Vesta, which is an SNCF subsidiary (notified Oct. 18/deadline Nov. 26/simplified)

-- Steelmaker ArcelorMittal MT.AS and Japan's Nippon Steel & Sumitomo Metal Corp 5401.T to acquire Indian peer Essar Steel India (notified Oct. 17/deadline Nov. 23/simplified)

-- Energy company E.ON EONGn.DE and SEAS-NVE to set up an electric vehicle charging station joint venture (notified Oct. 17/deadline Nov. 23/simplified)

-- German building materials company Knauf International to acquire Armstrong World Industries' AWI.N modular suspended ceilings business in the EMEA and APAC region (notified Oct. 17/deadline Nov. 23)

EXTENSIONS AND OTHER CHANGES

-- Chemicals company Quaker Chemical Corp KWR.N and Hinduja Group's Houghton Internatioal [HGINL.UL} to merge (notified Oct. 19/deadline Nov. 27/companies provided concessions March 2)

-- International cable company Liberty Global LBTYA.O and its Belgian subsidiary, Telenet, to acquire Belgian publisher De Vijver Media (notified Oct. 3/deadline extended to Nov. 23 from Nov. 9 after the Belgian competition authority asked to take over the case)

FIRST-STAGE REVIEWS BY DEADLINE

OCT 19

-- German industrial gas company Messer Group and private equity group CVC CVC.AX to acquire certain assets from German chemical company Linde Group (notified Sept. 14/deadline Oct. 19/simplified)

OCT 22

-- U.S. computer and printer maker HP Inc HPQ.N to acquire U.K.-based office equipment dealer Apogee Corp (notified Sept. 17/deadline Oct. 22)

-- Private equity fund Lone Star to acquire Spanish company CaixaBank's CABK.MC real estate assets (notified Sept. 17/deadline Oct. 22)

-- Shipping group CMA CGM CMACG.UL to acquire shipping and logistics company Container Finance's holdings in Multi-Link Terminals Ltd and CD Holding Oy (notified Sept. 17/deadline Oct. 22)

OCT 23

-- U.S. travel and restaurent reservation and related services company Booking Holdings Inc BKNG.O to acquire Australian hotel metasearch site HotelsCombined (notified Sept. 18/deadline Oct. 23)

OCT 26

-- Japanese company Sony Corp. 6758.T to acquire majority control of UK music publishing company EMI Music Publishing (notified Sept. 21/deadline Oct. 26)

OCT 29

-- UK packaging business DS Smith SMDS.L to acquire Spanish corrugated packing provider Europac (notified Sept. 24/deadline Oct. 29)

-- U.S. pet food maker Mars Petcare to acquire European veterinary business Anicura (notified Sept. 10/deadline extended to Oct. 29 after Mars offered concessions)

OCT 30

-- Germany's Thyssenkrupp TKAG.DE and India's Tata Steel TISC.NS to set up a steel joint venture (notified Sept. 25/deadline Oct. 30)

NOV 6

-- Private quity fund OEP ITS Coopertief Holding to acquire Norwegian software licensing and IT consulting services firm Crayon Group Holding CRAYON.OL (notified Sept. 28/deadline Nov. 6/simplified)

-- Shanghai travel and hospitality group Jin Jiang International Holdings to acquire Radisson Holdings Incorporated and 69.65 percent of hotel operator Radisson Hospitality RADH.ST (notified Sept. 28/deadline Nov. 6)

-- Japanese Takeda Pharmaceutical Company Limited 4502.T to acquire Jersey biotechnology company Shire SHP.L (notified Sept. 28/deadline Nov. 6)

-- Walt Disney (NYSE:DIS) Co DIS.N to buy the bulk of Twenty-First Century Fox Inc's FOXA.O film and television assets (notified Sept. 14/deadline extended to Nov. 6 from Oct. 19 after Disney offered concessions)

NOV 7

-- Italian natural gas companies Societa Gasdotti Italian and Snam SRG.MI to launch an Italian natural gas joint venture (notified Oct. 1/deadline Nov. 7/simplified)

-- Power and thermal management solutions company Delta Electronics 2308.TW to acquire Thai electronics manufacturing company Delta Electronics Public Company Limited DELTA.BK (notified Oct. 1/deadline Nov. 7/simplified)

-- SELP, a joint venture between Luxembourg industrial property and warehouse owner SEGRO European Logistics Partnership SGRO.L , and Canadian pension fund investor Public Sector Pension Investment Board to acquire a Spanish distribution warehouse from French company ID Logistics Group (notified Oct. 1/deadline Nov. 7/simplified)

-- German luxury carmakers Daimler DAIGn.DE and BMW BMWG.DE to launch a car-sharing joint venture (notified Sept. 17/deadline extended to Nov. 7 after the companies offered concessions)

-- U.S. aircraft parts maker Spirit Aerosystems Holdings Inc SPR.N to acquire EU-based supplier Asco Industries NV (notified Sept. 17/deadline extended to Nov. 7 after the compamies offered concessions)

NOV 8

-- Dutch subsidiary of Saudi Arabian Oil Company IPO-ARMO.SE , Overseas Holding Cooperatief U.A., to acquire remaining shares in Netherlands-based specialty chemicals company of ARLANXEO Holding B.V. (notified Oct. 2/deadline Nov. 8/simplified)

-- Private equity firm BC Partners to acquire British veterinary practice group VetPartners (notified Oct. 2/deadline Nov. 8/simplified)

-- Saudi oil company Saudi Aramco to acquire the rest of Dutch chemicals company Arlanxeo whic it does not own (notified Oct. 2/deadline Nov. 8/simplified)

NOV 9

-- German car part maker Continental Automotive Holding CONG.DE and Chinese battery and power system manufacturer Sichuan Chengfei Integration Technology Corporation 002190.SZ to set up an electric vehicle battery systems joint venture notified Oct. 3/deadline Nov. 9/simplified)

NOV 12

-- U.S. investment management company Rhone Capital to acquire industrial company Maxam (notified Oct. 4/deadline Nov. 12/simplified)

-- Private equity firm EQT and hearing aids maker Widex to set up a joint venture which will combine Widex with EQT's hearing aids unit Sivantos (notified Oct. 4/deadline Nov. 12)

NOV 14

-- Electronic and motor manufacturing company Nidec 6594.T to acquire sole control of U.S. white goods maker Whirlpool WHR.N Corp's compressor subsidiary Embraco (notified Oct. 8/deadline Nov. 14)

NOV 15

-- Brazilian pulp and paper producer Suzano Papel e Celulose SUZB3.SA to acquire Brazilian peer Fibria Celulose FIBR3.SA (notified Oct. 9/deadline Nov. 15)

-- KLIO to acquire German e-book subscription service Skoobe which is jointly owned by German publishing companies Bertelsmann and Holtzbrinck (notified Oct. 9/deadline Nov. 15/simplified)

NOV 19

-- UK property developer Hammerson HMSO.L and UK insurer Prudential's PRU.L subsidiary M&G to jointly acquire a shopping centres (notified Oct. 11/deadline Nov. 19/simplified)

-- U.S. fashion group Michael Kors KORS.N to acquire Italian peer Gianni Versace (notified Oct. 11/deadline Nov. 19/simplified)

NOV 30

-- Deutsche Telekom DTEGn.DE to acquire Swedish peer Tele2's TEL2b.ST Dutch unit and merge it with its Dutch business T-Mobile Nederland (notified May 2/deadline Nov. 30)

DEC 13

-- Copper company KME, which is part of Intek Group IKG.MI , to acquire German peer MKM Mansfelder Kupfer and Messing GmbH (notified June 4/deadline Dec. 13)

JAN 8

-- French aerospace and defence group Thales TCFP.PA to acquire Franco-Dutch chipmaker Gemalto GTO.AS (notified June 18/deadline Jan. 8)

JAN 17

-- German copper products maker Wieland-Werke to acquire German copper smelter Aurubis' NAFG.DE flat rolled products unit Products Schwermetall (notified June 13/deadline Jan. 17)

JAN 25

-- German company BASF BASFn.DE to acquire Belgian chemicals company Solvay's SOLB.BR worldwide polyamide business (notified May 22/deadline extended to Jan. 25 from Jan. 11 after the companies asked for more time)

JAN 28

-- Siemens (NS:SIEM) SIEGn.DE and Alstom ALSO.PA to merge their railway operations (notified June 8/deadline Jan. 28)

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.

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