Advertisement
UK markets closed
  • FTSE 100

    8,213.49
    +41.34 (+0.51%)
     
  • FTSE 250

    20,164.54
    +112.21 (+0.56%)
     
  • AIM

    771.53
    +3.42 (+0.45%)
     
  • GBP/EUR

    1.1652
    -0.0031 (-0.26%)
     
  • GBP/USD

    1.2546
    +0.0013 (+0.11%)
     
  • Bitcoin GBP

    50,711.49
    +1,496.18 (+3.04%)
     
  • CMC Crypto 200

    1,359.39
    +82.41 (+6.45%)
     
  • S&P 500

    5,127.79
    +63.59 (+1.26%)
     
  • DOW

    38,675.68
    +450.02 (+1.18%)
     
  • CRUDE OIL

    77.99
    -0.96 (-1.22%)
     
  • GOLD FUTURES

    2,310.10
    +0.50 (+0.02%)
     
  • NIKKEI 225

    38,236.07
    -37.98 (-0.10%)
     
  • HANG SENG

    18,475.92
    +268.79 (+1.48%)
     
  • DAX

    18,001.60
    +105.10 (+0.59%)
     
  • CAC 40

    7,957.57
    +42.92 (+0.54%)
     

EU mergers and takeovers (Jan 20)

BRUSSELS, Jan 20 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Swiss specialty chemicals group Clariant (Xetra: CLRN.DE - news) and Saudi Arabia's National Industrialisation Company (Tasnee) to form a joint venture (approved Jan. 20)

NEW LISTINGS

-- Irish building materials producer CRH Group and Luja Group to combine their concrete business in Russia (notified Jan. 16/deadline Feb. 20/simplified)

EXTENSIONS AND OTHER CHANGES

None

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

JAN 23

-- Private equity firm Hellman & Friedman to acquire online marketplace provider Scout 24 (notified Dec. 9/deadline Jan. 23/simplified)

ADVERTISEMENT

JAN 27

-- German insurer Allianz to acquire 50 percent of Finnish real estate fund NRF which is controlled by Luxembourg-based property fund NRF Management Co S.a.r.l (notified Dec. 11/deadline Jan. 27/simplified)

JAN 29

-- Spanish bank Santander to acquire a 50 percent stake in Spanish consumer finance company El Corte Ingles E.F.C. from Spanish retailer El Corte Ingles (notified Dec. 13/deadline Jan. 29)

-- Taiwanese contract laptop PC maker Compal Electronics to buy Toshiba Television Central Europe from Japanese industrial company Toshiba Corp (Frankfurt: TSE1.F - news) (notified Dec. 13/deadline Jan. 29/simplified)

JAN 30

-- Private equity firms Investindustrial and KKR (Frankfurt: A1C10P - news) to acquire joint control of Spanish amusement park operator Resort Holdings B.V. (notified Dec. 16/deadline Jan. 30/simplified)

-- Private equity firm Lloyds Development Capital, which is owned by British bank Lloyds, and Dutch mail group ptnlPostNL to acquire joint control of holding company TNT NN1 Ltd which is now solely controlled by PostNL (Amsterdam: PNL.AS - news) (notified Dec. 16/deadline Jan. 30)

-- Mexican frozen food producer Sigma Alimentos to acquire Spanish meat processor Campofrio (notified Dec. 16/deadline Jan. 30/simplified)

FEB 4

-- German vehicle importer Frey Automobil Holding Deutschland GmbH and Mitsubishi Motors Europe B.V. to acquire joint control of Mitsubishi Motors Deutschland GmbH, currently 100 percent owned by Mitsubishi Motors Europe (notified Dec. 19/deadline Feb. 4/simplified)

FEB 5

-- Dutch mining holding company Metinvest to indirectly acquire joint control of Ukrainian iron ore company Southern GOK by replacing one of Southern GOK's existing shareholders. It will jointly control the firm with Cypriot holding firm Lanebrook Ltd, parent of Evraz plc (Other OTC: EVRZF - news) (notified Dec. 20/deadline Feb. 5)

FEB 6

-- Japanese trading house Mitsui & Co Ltd and ArcelorMittal Gonvarri Brasil Produtos Siderurgicos S.A., a joint venture between Gonvarri and ArcelorMittal (Other OTC: ARCXF - news) , to acquire joint control of M Steel Industria e Comercio de Produtos Siderurgicos Ltda, which will operate a steel service centre in the state of Rio de Janeiro, Brazil (notified Dec. 23/deadline Feb. 6/simplified)

-- Pension funds USS Nero Limited of Britain, OPSEU Pension Plan Trust Fund of Canada and PGGM N.V. of the Netherlands, together with Spain's Global Vía Infraestructuras, to acquire joint control of Globalvía Inversiones, S.A., which is currently jointly controlled by OPTrust, PGGM and Global Vía Infraestructuras (notified Dec. 23/deadline Feb. 6/simplified)

-- Germany's Sales & Solutions GmbH, a unit of EnBW Energie Baden-Wuerttemberg AG, and Austria's Verbund AG (Vienna: VER.VI - news) to acquire joint control of a new joint venture to sell electricity from renewable energy sources to resellers and large customers in Germany (notified Dec. 23/deadline Feb. 6/simplified)

FEB 7

-- Japan's Mitsubishi Heavy Industries (Other OTC: MHVYF - news) and Danish wind turbine manufacturer Vestas Wind Systems A/S (Other OTC: VWDRY - news) to set up a joint venture to carry out global sales, manufacturing, installation, research and development and maintenance of offshore wind turbine generators (notified Jan. 3/deadline Feb. 7/simplified)

-- Singapore's sovereign wealth fund GIC to become British Land's new partner in London's Broadgate office and retail complex, buying out U.S. private equity group Blackstone (NYSE: BX - news) for around 1.7 billion pounds ($2.8 billion) (notified Jan. 3/deadline Feb.7/simplified)

-- U.S. private equity fund Advent International to take Dutch business software firm UNIT4 (Amsterdam: UNIT4.AS - news) private (notified Jan. 3/deadline Feb. 7/simplified)

-- State-controlled Finnish utility Fortum (Other OTC: FOJCF - news) to sell its local power distribution grid to a group of institutional investors led by First State Investments and Borealis Infrastructure for 2.55 billion euros ($3.5 billion) (notified Jan. 3/deadline Feb. 7/simplified)

FEB 12

-- Swiss energy group Axpo to buy a 49 percent stake in a group of French wind farms from EDP Renewables France , a unit of Portuguese group Energias de Portugal (notified Jan. 8/deadline Feb. 12/simplified).

-- Japan's Mitsubishi Corp (Dusseldorf: MBI.DU - news) and Mitsubishi Electric (Frankfurt: MIE1.F - news) Corp to acquire joint control of International Elevator & Equipment Inc., a Philippines-registered elevator company (notified Jan. 8/deadline Feb. 12/simplified).

-- Japan's Mitsubishi Corp and Mitsubishi Electric Corp to acquire joint control of Mitsubishi Elevator (Thailand) Co. Ltd, a Thailand-registered elevator company (notified Jan. 8/deadline Feb. 12/simplified).

-- 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)

-- Japanese trading company Marubeni (Dusseldorf: MARA.DU - news) and private equity firm INCJ to acquire joint control of AGS, a Portuguese water company (notified Jan. 8/deadline Feb. 12/simplified)

-- U.S. private equity firm JLL Partners and Dutch chemicals company DSM (Amsterdam: DSM.AS - news) to set up a joint venture (notified Jan. 8/deadline Feb. 12/simplified)

-- Chesapeake Services Limited and Multi Packaging Solutions, Inc., portfolio companies of the Carlyle Group and Madison Dearborn partners respectively, to merge, creating a large print-based specialty packaging firm (notified Jan. 8/deadline Feb. 12/simplified)

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)

-- U.S. grain trader Archer Daniels Midland

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.