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

    50,862.23
    +813.73 (+1.63%)
     
  • 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 (March 4)

BRUSSELS, March 4 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Cayman Island-based private equity firm Clayton, Dubilier & Rice Fund X, L.P. to acquire sole control from investment vehicle Cheadle Developments Ltd. over Jersey-based FH Investments Ltd. through a share purchase (approved March 1)

-- UK-based asset manager Intermediate Capital Group to acquire control of Grupo Konectanet, S.L. and Konecta Activos Immobiliarios, S.L. and companies controlled by them (approved March 1)

-- Norway's Kongsberg Gruppen to acquire British aero-engine maker Rolls-Royce's commercial marine business (approved March 1)

ADVERTISEMENT

NEW LISTINGS

-- U.S. tech and consulting services provider DXC Technology to acquire U.S. software development company Luxoft Holding (notified March 1/deadline April 5/simplified)

EXTENSIONS AND OTHER CHANGES

-- Insurer Marsh & McLennan Companies to acquire share capital of British peer Jardine Lloyd Thompson Group (notified Feb. 1/deadline extended to March 22 from March 8 after Marsh & McLennan offered concessions)

FIRST-STAGE REVIEWS BY DEADLINE

MARCH 7

-- German energy company E.ON to acquire German peer Innogy's retail and network activities (notified Jan. 31/deadline March 7)

MARCH 8

-- Energy producer and provider Total Holdings USA to acquire sole control over oil and natural gas production company Chevron Denmark (notified Feb. 1/deadline March 8)

MARCH 11

-- Global aerospace producer, designer and supplier TransDigm Group to acquire sole control over manufacturing company Esterline Technologies (notified Feb. 4/deadline March 11)

-- DA Agravis Machinery Holding and Danish Agro Machinery Holding to acquire Kesko Group's agrimachinery activities in Finland, Estonia, Latvia and Lithuania from Finnish subsidiary Konekesko Oy (notified Feb. 4/deadline March 11)

MARCH 12

-- On-street parking company Saba Portugal and road infrastructure operator Egis Portugal to acquire joint control of Viseu Car Park Assets (notified Feb. 5/deadline March 12/simplified)

MARCH 15

-- French construction company Vinci to acquire Britain's Gatwick Airport (notified Feb. 8/deadline March 15/simplified)

-- Investindustrial VI L.P.'s investment subsidiary World Confectionery Group S.a r.l to acquire sole control of Spain's chocolate company Natra S.A. (notified Feb. 8/deadline March 15/simplified)

-- U.S. private equity firm American Securities to acquire property restoration company Belfor Holdings (notified Feb. 8/deadline March 15/simplified)

MARCH 20

-- U.S. aircraft parts maker Spirit Aerosystems Holdings Inc to acquire EU-based supplier Asco Industries NV (notified Jan. 30/deadline extended to March 20 from March 6 after Spirit offered concessions)

-- U.S. private equity firm KKR to acquire Spanish food-food restaurant chain Telepizza (notified Feb. 13/deadline March 20/simplified)

MARCH 21

-- German insurer Allianz, Canada's Public Sector Pension Investment Board and U.S.-based Greystar Real Estate Partners to acquire joint control over London-based student accommodation property Paul Street East through a share purchase agreement (notified Feb. 14/deadline March 21/simplified)

MARCH 25

-- U.S. aluminum company Novelis, which is a unit of India's Hindalco Industries Ltd, to acquire aluminum processor Aleris (notified Feb. 18/deadline March 25)

-- Luxembourg's LetterOne Investment Holdings to acquire supermarket operator DIA (notified Feb. 18/deadline March 25/simplified)

MARCH 26

-- France's Moma Places and Unibal-Rodamco to set up a joint commercial catering venture (notified Feb. 19/deadline March 26/simplified)

MARCH 27

-- Swiss chemicals company Sika to acquire French rival Parex from private equity firm CVC Capital Partners (notified Feb. 20/deadline March 27)

-- Japan's CK Holdings Co to acquire Italian car parts maker Magneti Marelli from Italian auto maker Fiat Chrysler Automotives (notified Feb. 20/deadline March 27/simplified)

MARCH 28

-- ArcelorMittal and Italy's CLN Group to acquire joint control over two Italian steel service centers of the Ilva Group (notified Feb. 21/deadline March 28)

-- German conglomerate JAB Holding to increase its stake in Coty Inc to 60 percent from 40 percent (notified Feb. 21/deadline March 28/simplified)

-- Japanese telecoms provider KDDI Corp and Mitsubishi UFJ Securities Holdings Co Ltd to jointly acquire Japanese online broker Kabu.com (notified Feb. 21/deadline March 28/simplified)

-- Apollo Management to acquire plastic product maker RPC Group (notified Feb. 21/deadline March 28/simplified)

MARCH 29

-- Financial services company Great-West Lifeco's Irish Life and Clyde Property Fund and UK property developer Hammerson to jointly acquire a shopping centre in Dublin, Ireland (notified Feb. 22/deadline March 29)

-- Carlyle U.S. Equity Opportunity Fund and TA Associates LP to acquire joint control over WU Holdco, Inc. (notified Feb. 22/deadline March 29/simplified)

APRIL 1

-- UK asset management company Segro and Canada's Public Sector Pension Investment Board to jointly acquire a logistics site in Poland (notified Feb. 25/deadline April 1/simplified)

-- UK asset management company Segro and Canada's Public Sector Pension Investment Board to jointly acquire a logistics site in France (notified Feb. 25/deadline April 1/simplified)

-- Mitsubishi's trust and banking corporation to acquire sole control of First State Investments through a share acquisition (notified Feb. 25/deadline April 1/simplified)

APRIL 29

--- Germany's Thyssenkrupp and India's Tata Steel to set up a steel joint venture (notified Sept. 25/deadline April 29)

MAY 20

-- Electronic and motor manufacturing company Nidec to acquire sole control of U.S. white goods maker Whirlpool Corp's compressor subsidiary Embraco (notified Oct. 8/deadline extended to May 20 from May 13)

JUNE 3

-- UK mobile telephony provider Vodafone to acquire U.S. Liberty Global's telecommunications business in the Czech Republic, Germany, Hungary and Romania (notified Oct. 19/deadline June 3)

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. (Reporting by Foo Yun Chee;)