Advertisement
UK markets closed
  • NIKKEI 225

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

    17,201.27
    +372.34 (+2.21%)
     
  • CRUDE OIL

    82.66
    -0.70 (-0.84%)
     
  • GOLD FUTURES

    2,339.00
    -3.10 (-0.13%)
     
  • DOW

    38,326.32
    -177.37 (-0.46%)
     
  • Bitcoin GBP

    52,009.21
    -1,679.02 (-3.13%)
     
  • CMC Crypto 200

    1,391.67
    -32.43 (-2.28%)
     
  • NASDAQ Composite

    15,640.38
    -56.26 (-0.36%)
     
  • UK FTSE All Share

    4,374.06
    -4.69 (-0.11%)
     

EU mergers and takeovers (March 29)

BRUSSELS, March 29 (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 (Other OTC: UBGXF - news) . private equity firms Warburg Pincus and General Atlantic to jointly acquire U.S. asset management company Pioneer U.S. (approved/simplified)

-- Private equity (LSE: 0QLS.L - news) firms Apax Partners and Neuberger Berman Acquisition LLC to jointly acquire Italian tech services provider Engineering Ingegneria Informatica SPA. (approved/simplified)

NEW LISTINGS

None

EXTENSIONS AND OTHER CHANGES

None

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

ADVERTISEMENT

MARCH 30

-- CK Hutchison Holdings Ltd and Vimpelcom to merge their Italian mobile operations (notified Feb. 5/deadline extended to March 30 from March 11 after the Italian competition authority requested to take over the case)

APRIL 1

-- British private equity firm Bridgepoint Group to acquire Polish children's apparel and toy store chain SMYK Group (notified Feb. 23/deadline April 1/simplified)

APRIL 6

-- Global Infrastructure Partners and Canada Pension Plan Investment Board to jointly acquire some businesses from Australian freight company Asciano (Dusseldorf: 02A1.DU - news) (notified Feb. 26/deadline April 6/simplified)

-- Worldline to acquire PaySquare from Equens (notified Feb. 26/deadline April 6)

APRIL 7

-- Hungarian oil and gas group MOL to acquire ENI (Swiss: ENI.SW - news) Hungaria and ENI Slovenia from Italian oil producer Eni (notified Feb. 29/deadline April 7)

-- U.S. technology consulting company Computer Sciences Corp to acquire British outsourcing company Xchanging Plc (LSE: XCH.L - news) (notified Feb. 29/deadline April 7/simplified)

APRIL 15

-- French container shipping giant CMA CGM to acquire Singaporean rival Neptune Orient Lines (notified March 8/deadline April 15)

APRIL 19

-- Austria's Erste Group Bank (EUREX: EBO.EX - news) and U.S. company Global Payments Inc (NYSE: GPN - news) to acquire joint control of Global Payments s.r.o. (notified March 10/deadline April 19)

APRIL 21

-- French container shipping company CMA CGM and French conglomerate Bollore (LSE: 0IXZ.L - news) to jointly develop a container terminal in the Cameroonian port of Kribi (notified March 14/deadline April 21/simplified)

APRIL 25

-- Belgian steel wire maker NV Bekaert SA (LSE: 0OQJ.L - news) and Ontario Teachers' Pension Plan Board to jointly control a wire rope business (notified March 16/April 25)

-- UK private equity firm EQT to acquire Swiss travel company Kuoni Travel notified March 16/deadline April 25)

APRIL 27

-- Deutsche Bank (LSE: 0H7D.L - news) and transport asset management company Ermewa to jointly acquire control of asset management company Akiem which is now solely controlled by Ermewa (notified March 18/deadline April 27)

APRIL 29

-- U.S. private equity firm Rhone Capital to acquire a controlling stake in Garda World Security which is now solely controlled by UK private equity firm Apax Partners LLP (notified March 22/deadline April 29/simplified)

MAY 2

-- Japan's Sumitomo Corp to acquire a stake in Brazilian energy and logistics company Cosan SA (notified March 23/deadline May 2/simplified)

MAY 19

-- Hutchison Whampoa to acquire Telefonica (Amsterdam: TA6.AS - news) 's O2 UK subsidiary (notified Sept. 11/deadline extended to May 19 from April 22 after Hutchison (HKSE: 0013-OL.HK - news) offered concessions)

JULY 12

-- Airbus Safran Launchers, a 50/50 joint venture between Airbus and Safran (LSE: 0IU8.L - news) , to acquire sole control of satellite group Arianespace (notified on Jan. 8/deadline extended to July 12 from Feb. 26 after the Commission opened an in-depth investigation)

SUSPENDED

-- Oilfield services provider Halliburton (Hanover: HAL.HA - news) to buy rival Baker Hughes in a stock and cash transaction (notified Nov. 27/deadline suspended as the Commission waits for the companies to provide more data)

-- SOCAR, Azerbaijan's state energy company, to buy stakes in Greek natural gas grid operator DESFA from Greek natural gas utility DEPA (notified Oct (HKSE: 3366-OL.HK - news) . 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 (Other OTC: ITGL - news) 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. (Compiled by Brussels newsroom)