Advertisement
UK markets close in 5 hours 31 minutes
  • FTSE 100

    8,084.67
    +39.86 (+0.50%)
     
  • FTSE 250

    19,798.57
    -1.15 (-0.01%)
     
  • AIM

    754.71
    -0.16 (-0.02%)
     
  • GBP/EUR

    1.1630
    +0.0002 (+0.02%)
     
  • GBP/USD

    1.2429
    -0.0024 (-0.19%)
     
  • Bitcoin GBP

    53,401.62
    +232.46 (+0.44%)
     
  • CMC Crypto 200

    1,431.37
    +7.27 (+0.51%)
     
  • S&P 500

    5,070.55
    +59.95 (+1.20%)
     
  • DOW

    38,503.69
    +263.71 (+0.69%)
     
  • CRUDE OIL

    83.00
    -0.36 (-0.43%)
     
  • GOLD FUTURES

    2,328.50
    -13.60 (-0.58%)
     
  • NIKKEI 225

    38,460.08
    +907.92 (+2.42%)
     
  • HANG SENG

    17,201.27
    +372.34 (+2.21%)
     
  • DAX

    18,193.14
    +55.49 (+0.31%)
     
  • CAC 40

    8,127.25
    +21.47 (+0.26%)
     

EU mergers and takeovers (March 19)

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

APPROVALS AND WITHDRAWALS

-- South Korean holding company Lotte to acquire joint control of coffee maker Nestle Korea from Switzerland's Nestle (VTX: NESN.VX - news) (approved March 19)

-- U.S. agriculture machinery maker Agco Corp and GAZ (MCX: GAZA.ME - news) , which is a unit of Russian car maker Basic Element, to set up a joint venture (approved March 19)

-- Infrastructure operator Global Via Infraestructuras, which is 50 percent owned by Spanish bank Bankia (Madrid: BKIA.MC - news) , and LBEIP, which is a subsidiary of British lender Lloyds Bank to acquire joint control of Spanish hospital operator OHL Phunciona (approved March 19)

ADVERTISEMENT

NEW LISTINGS

None

EXTENSIONS AND OTHER CHANGES

None

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

MARCH 18

-- British pension fund Universities Superannuation Scheme Limited (USS) to acquire 49.9 percent of British air traffic controller The Airline Group Ltd whose shareholders are British Airways, Easyjet (Other OTC: ESYJY - news) and Monarch Airlines (notified Feb. 11/deadline March 18)

MARCH 27

-- French utility GDF Suez (TLO: GAZ-U.TI - news) , Omnes Capital and Predica Prevoyance Dialogue du Credit Agricole (TLO: ACA.TI - news) to acquire joint control of Futures Energies Investissements Holdings which is now solely controlled by GDF Suez (notified Feb. 20/deadline March 27/simplified)

APRIL 4

-- Mexican cement producer Cemex to acquire Swiss peer Holcim (Other OTC: HCMLF - news) 's Spanish cement business (notified Feb. 28/deadline April 4)

APRIL 7

-- U.S. investment firm The Gores Group to acquire British grocer Premier Foods (LSE: PFD.L - news) ' Hovis unit (notified March 3/deadline April 7/simplified)

APRIL 8

-- U.S. media company Discovery Communications (NasdaqGS: DISCA - news) to acquire a controlling interest in European sports broadcaster Eurosport International from French media group TF1 (Frankfurt: FSE.F - news) (notified March 4/deadline April 8)

APRIL 9

-- Israeli conglomerate Ben-Moshe Group and Dolphin Fund to acquire Israel group IDB Development Corp Ltd (notified March 5/deadline April 9/simplified)

-- Dutch company Varo Energy, which is controlled by the Carlyle Group, to acquire assets from Austrian oil group OMV (Frankfurt: OMV.F - news) (notified March 5/deadline April 9/simplified)

APRIL 10

-- Japanese chemicals producer Kuraray to buy U.S. peer DuPont's glass laminating solutions business (notified March 6/deadline April 10)

-- Sale by Britain's Royal Bank of Scotland (LSE: RBS.L - news) of some structured retail investor products and equity derivatives businesses to France's BNP Paribas (Milan: BNP.MI - news) (notified March 6/deadline April 10)

APRIL 11

-- Carlyle Group to buy Illinois Tool Works Inc (NYSE: ITW - news) 's industrial packaging unit for $3.2 billion (notified March 7/deadline April 11/simplified)

APRIL 15

-- Deutsche Telekom (Xetra: DTE.DE - news) to acquire control of GTS Central Europe from a consortium of international private equity firms (notified March 11/deadline April 15)

APRIL 22

-- Australian investment fund AMP Capital Investors Ltd to acquire joint control of Luxembourg-based train leasing company Alpha Trains (Luxembourg) Holdings Sari (notified March 13/deadline April 22/simplified)

APRIL 23

-- U.S. cable company Liberty Global (NasdaqGS: LBTYA - news) to acquire Dutch peer Ziggo (Dusseldorf: ZGG.DU - news) (notified March 4/deadline April 23)

APRIL 24

-- British engineering group John Wood (Other OTC: WDGJF - news) and German peer Siemens to form a joint venture (notified March 17/deadline April 24)

-- Japanese spirits maker Suntory Holdings Ltd to buy U.S. spirits company Beam Inc (NYSE: BEAM - news) (notified March 17/deadline April 24)

MAY 2

-- Swiss cement maker Holcim 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)

MAY 14

-- Spanish telecoms provider Telefonica (Madrid: TEF.MC - news) 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)

MAY 16

-- Switzerland-based INEOS and Belgian chemicals company Solvay (Other OTC: SVYZY - news) to form a joint venture (notified Sept. 16/deadline extended to May 16 after additional concessions offered)

MAY 19

-- Hutchison 3G UK to acquire Telefonica Ireland, a unit of Spanish telecoms provider Telefonica (notified Oct. 1/deadline extended for the second time to May 19 from April 24 after Hutchison offered concessions)

JULY 22

-- 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 extended to July 22 from March 5 after the European Commission opened an in-depth probe)

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. (Editing by Foo Yun Chee)