Advertisement
UK markets closed
  • FTSE 100

    7,895.85
    +18.80 (+0.24%)
     
  • FTSE 250

    19,391.30
    -59.37 (-0.31%)
     
  • AIM

    745.67
    +0.38 (+0.05%)
     
  • GBP/EUR

    1.1607
    -0.0076 (-0.65%)
     
  • GBP/USD

    1.2370
    -0.0068 (-0.55%)
     
  • Bitcoin GBP

    52,149.21
    +886.84 (+1.73%)
     
  • CMC Crypto 200

    1,334.09
    +21.46 (+1.64%)
     
  • S&P 500

    4,967.23
    -43.89 (-0.88%)
     
  • DOW

    37,986.40
    +211.02 (+0.56%)
     
  • CRUDE OIL

    83.24
    +0.51 (+0.62%)
     
  • GOLD FUTURES

    2,406.70
    +8.70 (+0.36%)
     
  • NIKKEI 225

    37,068.35
    -1,011.35 (-2.66%)
     
  • HANG SENG

    16,224.14
    -161.73 (-0.99%)
     
  • DAX

    17,737.36
    -100.04 (-0.56%)
     
  • CAC 40

    8,022.41
    -0.85 (-0.01%)
     

EU mergers and takeovers (April 21)

BRUSSELS, April 21 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Telecoms group Altice to acquire Brazilian peer Grupo Oi's Portuguese assets (approved April 20)

-- U.S. bank Goldman Sachs (NYSE: GS-PB - news) and French property developer Altarea to jointly acquire French holding company Pascal Defense S.A.R.L. (approved April 20)

-- Finnish ship engine and power plant maker Wartsila to buy navigation systems maker L-3 Marine Systems from L-3 Holding (approved April 14)

NEW LISTINGS

-- Spanish bank Banco Sabadell to acquire British peer TSB (notified April 20/deadline May 29/simplified)

ADVERTISEMENT

-- U.S. flooring products maker Mohawk Industries (NYSE: MHK - news) to buy Luxembourg-based International Flooring Systems (notified March 2/deadline May 28)

-- Private equity firm 3i Group and German fuel storage services provider Oiltanking GmbH to jointly acquire Oiltanking Ghent and Oiltanking Terneuzen which are now solely controlled by Oiltanking GmbH (notified April 16/deadline May 27/simplified)

EXTENSIONS AND OTHER CHANGES

None

FIRST (Other OTC: FSTC - news) -STAGE REVIEWS BY DEADLINE

APRIL 21

-- Private equity firms Ardian France and F2i SGR to acquire joint control of investor F2i Aeroporti which holds stakes in companies operating at Italian airports (notified March 12/deadline April 21)

APRIL 23

-- German industrial services group Bilfinger and merchandising and management services provider Papstar Holding AG to set up a joint venture (notified March 16/deadline April 23/simplified)

APRIL 27

-- Irish cement firm CRH (NYSE: CRH - news) to buy assets from merging companies Lafarge (Paris: FR0000120537 - news) and Holcim (notified March 18/deadline April 27)

APRIL 28

-- Canadian public pension fund Caisse de Depot du Placement du Quebec and British asset manager Hermes to acquire 40 percent of British high-speed rail Eurostar International Ltd, which is 55 percent owned by French rail operator SNCF Mobilities (notified March 19/deadline April 28)

APRIL 29

-- Austrian property developer CA Immo to acquire control of Austrian peer Immofinanz (Vienna: IIA.VI - news) (notified March 20/deadline April 29/simplified)

APRIL 30

-- German agricultural products distributor Baywa , German electric heating producer GlenDimplex and German energy software developer Greencom to acquire shares in energy services provider BEEGY GmbH (notified March 23/deadline April 30/simplified)

MAY 5

-- Qatari-backed investor Constellation Hotels to acquire InterContinental Hotels Group's flagship Le Grand hotel in Paris (notified March 25/deadline May 5/simplified)

-- U.S. conglomerate Berkshire Hathaway (Sao Paolo: BERK34.SA - news) to acquire German motorcycle apparel and accessories retailer Detlev Louis Motrorrad-Vertriebs GmbH (notified March 25/deadline May 5/simplified)

MAY 7

-- MI Fashion Ltd and L Capital Asia 2 Pte Ltd to acquire joint control of clothing retailer Pepe Jeans Group (notified March 27/deadline May 7/simplified)

MAY 8

-- U.S. investment firm Starwood Capital Group and Spanish hotel chain Melia Hotels International to acquire joint control of six hotels in Spain (notified March 30/deadline May 8/simplified)

MAY 11

-- Japanese electronics group Hitachi (Other OTC: HTHIF - news) to acquire Italian train maker AnsaldoBreda and its rail-signalling company Ansaldo STS (Milan: STS.MI - news) from Italian aerospace and defence group Finmeccanica (notified March 31/deadline May 11/simplified)

MAY 12

-- French seismic survey group CGG (NYSE: CGG - news) and British energy consultancy Wood MacKenzie to set up a joint venture (notified April 1/deadline May 12/simplified)

-- Investment fund Apollo Management to acquire German mail order and Internet retailer Walz Group (notified April 1/deadline May 12/simplified)

-- Japan's Mitsui Chemicals and South Korean conglomerate SK Holdings to set up a joint venture (notified April 1/deadline May 12/simplified)

-- French equity firm Ardian to acquire a 65-percent stake in Spanish toll-road operator Tunels, which is 35-percent controlled by Spanish toll-road operator Abertis SA (notified April 1/deadline May 12)

MAY 13

-- Czech energy group Energeticky a Prumyslovy Holding (EPH) to acquire some Italian coal and gas businesses from German utility E.ON (notified April 7/deadline May 13/simplified)

-- Spanish lender Caixabank (Other OTC: CAIXY - news) to acquire control of Portuguese bank Banco BPI (notified April 7/deadline May 13/simplified)

MAY 18

-- Predica Prevoyance and investment fund Omnes Capital to jointly acquire wind farms (notified April 8/deadline May 18/simplified)

-- Canadian property and casualty insurer Fairfax Financial (Other OTC: FAXRF - news) Holdings to acquire British specialty insurer Brit Plc (LSE: BRIT.L - news) (notified April 8/deadline May 18/simplified)

MAY 19

-- Investment fund Bain Capital Investors to acquire auto fluids maker TI Fluid Systems (notified April 9/deadline May 19/simplified)

-- Canadian infrastructure investor Borealis Siegfried Holdings to acquire indirect sole control of Swedish electricity distribution system operator Fortum Distribution AB, a unit of Fortum Oyj (Other OTC: FOJCF - news) for about 6.6 billion euros. (notified April 9/deadline May 19/simplified)

MAY 21

-- Japanese printing manufacturer Brother Industries to acquire British barcode printer Domino Printing Sciences for about 1.03 billion pounds in cash.(notified April 13/deadline May 21/simplified)

-- Heinz Herrman Thiele, the owner of Knorr Bremwse , plans to buy rail technology provider Vossloh (Frankfurt: VOSV.F - news) , although offer is below the market price. (notified April 9/deadline May 21)

MAY 22

-- Luxembourg's Griffin Real Estate and U.S. investment fund Pimco plan to raise their stake in Polish business space developer Echo Investment to 66 percent (notified April 14/deadline May 22/simplified)

MAY 26

-- DS Smith Plc (LSE: SMDS.L - news) , a British maker of corrugated cardboard, recycled paper and plastic packaging, to buy Vienna-based packaging business Duropack (notified April 15/deadline May 26)

JUNE 1

-- French telecoms operator Orange (Taiwan OTC: 4554.TWO - news) to acquire Spanish provider Jazztel (notified Oct (HKSE: 3366.HK - news) . 16/new deadline June 1 after Commission lifts deadline suspension)

-- Mondelez International Inc (Xetra: A1J4U0 - news) 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 fourth time to June 1 from May 13)

JUNE 26

-- 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 June 26/companies offer commitments on March 13)

JULY 23

-- Commodities trader Cargill to buy rival Archer Daniels Midland Co's global chocolate business (notified Jan. 19/deadline extended to July 23 from July 8 after the companies asked for more time)

JULY 24

-- German conglomerate Siemens (Xetra: SIEC.DE - news) to purchase U.S. oilfield equipment maker Dresser-Rand Group Inc (notified Jan. 9/deadline July 24)

AUG 6

-- U.S. conglomerate General Electric to acquire most of French engineering group Alstom (Paris: FR0010220475 - news) 's power equipment business (notified Jan. 19/deadline extended for the second time to Aug. 6 from July 8 after GE asked for more time)

SEPT 2

-- Norwegian telecoms company Telenor (Other OTC: TELNF - news) and Swedish peer TeliaSonera to combine their Danish mobile businesses (notified Feb. 27/deadline extended to Sept. 2 from Aug. 19 after the companies asked for more time)

SUSPENDED

-- 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 suspended on Jan. 21)

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. ($1 = 0.9313 euros) (Compiled by Foo Yun Chee)