Tuesday, September 24, 2013

Reuters: Regulatory News: EU mergers and takeovers (Sept 24)

Reuters: Regulatory News
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EU mergers and takeovers (Sept 24)
Sep 24th 2013, 12:53

BRUSSELS, Sept 24 | Tue Sep 24, 2013 8:53am EDT

BRUSSELS, Sept 24 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- German tank storage provider Oiltanking, which is owned by German privately owned company Marquard & Bahls AG, and investment funds group Macquarie to set up a joint venture (approved Sept. 23)

NEW LISTINGS

-- Private equity firm CVC Capital Partners to buy some of Campbell Soup Co's brands (notified Sept. 20/deadline Oct. 25)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

SEPT 30

-- Norwegian fish farmer Marine Harvest to increase its stake in Norwegian salmon farmer Morpol ASA (notified Aug. 9/deadline extended to Sept. 30 from Sept. 16 after Marine Harvest offered concessions)

-- Japanese trading house Marubeni to acquire joint control of Portuguese energy producer National Power International Holdings B.V. (NPIH) from French energy group GDF Suez (notified Aug. 26/deadline Sept. 30/simplified)

-- Chinese telecoms equipment maker ZTE Services Deutschland GmbH to buy German Alcatel-Lucent Network Services from German telecom equipment maker Alcatel-Lucent Holding GmbH (notified Aug. 26/deadline Sept. 30/simplified)

OCT 2

-- Investment bank Goldman Sachs and private equity firm TPG LundyCo and British real estate investor Max Property Group Plc to acquire joint control of hospital leasor MPG Hospital Holdings Ltd (notified Aug. 28/deadline Oct. 2/simplified)

OCT 4

-- Soft drinks manufacturer Refresco Group to acquire rival Pride Foods (notified Aug. 16/deadline extended to Oct. 4 from Sept. 20 after Referesco Group offered concessions)

OCT 7

-- Private equity firms Bain Capital and Altor Fund III to acquire joint control of German fish feed producer Ewos, which is owned by Norwegian fish farmer Cermag ASA (notified Sept. 2/deadline Oct. 7)

OCT 8

-- Swiss cement maker Holcim to exchange some assets and combine others with Mexican peer Cemex (notified Sept. 3/deadline Oct. 8)

-- U.S. technology products distributor Arrow Electronics Inc to buy Computerlinks AG (notified Sept. 3/deadline Oct. 8/simplified)

OCT 9

-- Amvest Vastgoed B.V. to buy healthcare services provider DLH B.V. which is jointly controlled by DLH's management and a unit of Dutch private equity firm NPM Capital N.V. (notified Sept. 4/deadline Oct. 9/simplified)

-- Dutch steel product maker and machinery equipment distributor Koninklijke Reesink to buy Pon Holdings B.V.'s European material handling businesses (notified Sept. 4/deadline Oct. 9)

OCT 10

-- Spanish airports operator Aena and the private equity arm of French insurance group Axa to buy a stake in London's Luton airport from Spanish infrastructure company Abertis (notified Sept. 5/deadline Oct. 10)

OCT 11

-- French bank BNP Paribas Fortis and Belgian telecoms operator Belgacom to set up a joint venture for a Belgian mobile wallet (notified Sept. 6/deadline Oct. 11)

OCT 16

-- Greek carrier Aegean Airlines to buy Olympic Air (notified Feb. 28/deadline extended for the second time to Oct. 16 from Sept. 25 after Aegean offered additional commitments)

OCT 21

-- BP Europa, which is a unit of British energy group BP plc , to buy a joint stake in Polish fuel supplier Lotos Tank from Polish oil company Grupa Lotos (notified Sept. 16/deadline Oct. 21/simplified)

-- Switzerland-based INEOS and Belgian chemicals company Solvay to form a joint venture (notified Sept. 16/deadline Oct. 21)

-- Private equity firm CVC to acquire full control of domestic appliances repairer Domestic & General Group Holdings (notified Sept. 16/deadline Oct. 21/simplified)

OCT 22

-- Private equity firm Cinven to buy German life insurer Heidelberger Leben from British lender Lloyds Banking Group (notified Sept. 17/deadline Oct. 22/simplified)

-- Dutch pension group PGGM to acquire control of gas distributor Northern Offshore Upstream Gas Pipeline System, which is jointly controlled by French gas and power group GDF Suez and EBN B.V. (notified Sept. 17/deadline Oct. 22/simplified)

OCT 24

-- Private equity firm Triton to buy telecoms and energy infrastructure builder Alpine Energie from Spanish construction group FCC (notified Sept. 19/deadline Oct. 24/simplified)

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.

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