Advertisement
UK markets close in 2 hours 29 minutes
  • FTSE 100

    8,305.78
    +92.29 (+1.12%)
     
  • FTSE 250

    20,416.93
    +252.39 (+1.25%)
     
  • AIM

    777.65
    +6.12 (+0.79%)
     
  • GBP/EUR

    1.1650
    -0.0009 (-0.08%)
     
  • GBP/USD

    1.2556
    -0.0008 (-0.06%)
     
  • Bitcoin GBP

    50,714.18
    +64.07 (+0.13%)
     
  • CMC Crypto 200

    1,318.38
    -46.75 (-3.42%)
     
  • S&P 500

    5,180.74
    +52.95 (+1.03%)
     
  • DOW

    38,852.27
    +176.59 (+0.46%)
     
  • CRUDE OIL

    78.07
    -0.41 (-0.52%)
     
  • GOLD FUTURES

    2,324.20
    -7.00 (-0.30%)
     
  • NIKKEI 225

    38,835.10
    +599.03 (+1.57%)
     
  • HANG SENG

    18,479.37
    -98.93 (-0.53%)
     
  • DAX

    18,296.92
    +121.71 (+0.67%)
     
  • CAC 40

    8,025.95
    +29.31 (+0.37%)
     

EU mergers and takeovers (Feb 10)

BRUSSELS, Feb 10 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Japanese trading company Marubeni (Dusseldorf: MARA.DU - news) and private equity firm INCJ to acquire joint control of AGS, a Portuguese water company (approved Feb. 10)

-- Irish building materials producer CRH Group and Luja Group to combine their concrete business in Russia (approved Feb. 10)

-- U.S. grain trader Archer Daniels Midland and ATR Landhandel to acquire joint control of newly founded RGL. ADM Hamburg is contributing its silo facility in the deep-sea port of Rostock to the joint venture (approved Feb. 6)

ADVERTISEMENT

NEW LISTINGS

EXTENSIONS AND OTHER CHANGES

None

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

FEB 12

-- Finnish steelmaker Outokumpu (Other OTC: OUTKF - news) to sell Acciai Speciali Terni, a large Italian stainless steel mill, and specialty high-performance alloy unit VDM to ThyssenKrupp (Frankfurt: TKA.F - news) , their previous owner (notified Jan. 8/deadline Feb. 12)

FEB 18

-- Cintra Infraestructuras, Abertis Autopistas Espana and Itinere Infraestructuras to set up joint venture to market and distribute electronic equipment to pay on Spanish toll motorways (notified Jan. 14/deadline Feb. 18)

FEB 24

-- Qatar Petroleum International, Greek construction company GEK Terna (Frankfurt: A0B6AU - news) and French gas and power utility GDF Suez (TLO: GAZ-U.TI - news) to acquire joint control of Greek power plant operator Heron II which is now jointly controlled by GEK Terna and GDF Suez (notified Jan. 20/deadline Feb. 24/simplified)

FEB 26

-- French bank BPCE and Belgian private equity company GIMV (Brussels: GIMB.BR - news) to acquire joint control of Veolia Transport Belgium (notified Jan. 22/deadline Feb. 26/simplified)

FEB 28

-- Investment fund Apollo Group and Spanish financial services fund Fondo de Garantia de Depositos de Entidades de Credito to acquire joint control of air parts maker Synergy (BSE: SYNERGY.BO - news) (notified Jan. 24/deadline Feb. 28/simplified)

-- U.S. food packager Crown Holdings (NYSE: CCK - news) to buy Spanish food-can maker Mivisa Envases from investment funds the Blackstone Group, N+1 Mercapital and management (notified Jan. 24/deadline Feb. 28)

-- Canadian investment fund Canada Pension Plan Investment Board to acquire joint control of Luxembourg-based property developer Parque Principado from real estate developer Intu (LSE: INTU.L - news) Holding S.a.r.l (notified Jan. 24/deadline Feb. 28/simplified)

MARCH 4

-- Publisher Aller Media AB and Swedish publisher Egmont Holding AB to acquire joint control of online publisher Mediafy, which is now controlled by publisher Bonnier Tidskrijfter (notified Jan. 28/deadline March 4)

MARCH 5

-- U.S. chemical maker Huntsman Corp to acquire U.S. peer Rockwood Holdings (Frankfurt: R6H.F - news) 's titanium dioxide pigments business (notified Jan. 29/deadline March 5)

MARCH 6

-- Russian oil producer Lukoil (MCX: LKOH.ME - news) to acquire Italian energy company ISAB Energy S.r.l and ISAB Energy Services S.r.l. (notified Jan. 30/deadline March 6/simplified)

MARCH 7

-- U.S. fuel products provider World Fuel Services Corp (NYSE: INT - news) to buy British petroleum products distributor Watson Petroleum Ltd (notified Jan. 31/deadline March 7/simplified)

MARCH 21

-- Switzerland-based INEOS and Belgian chemicals company Solvay (Other OTC: SVYZY - news) to form a joint venture (notified Sept. 16/deadline extended for the second time to March 21 from Nov. 5 after the European Commission opened an in-depth investigation)

MARCH 31

-- Swiss cement maker Holcim (Other OTC: HCMLF - news) to buy some of Mexican peer Cemex's assets in Europe . (notified Sept. 3/deadline extended for the second time to May 2 from March 31)

APRIL 24

-- Hutchison 3G UK to acquire Telefonica Ireland, a unit of Spanish telecoms provider Telefonica (Madrid: TEF.MC - news) (notified Oct. 1/deadline extended to April 24 from March 24)

MAY 14

-- Spanish telecoms provider Telefonica to buy Dutch peer KPN (Amsterdam: KPN.AS - news) 's German unit (notified Oct. 31/Commission opened in-depth probe on Dec. 20, new deadline May 14)

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.