Advertisement

EU mergers and takeovers (March 10)

BRUSSELS, March 10 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process: APPROVALS AND WITHDRAWALS -- British bank Barclays to acquire sole control of Spanish insurer CNP Barclays Vida y Pensiones Compania de Seguros, which is now jointly controlled by Barclays and French insurer CNP Assurances (approved March 6) NEW LISTINGS -- Hong Kong's Cheung Kong Infrastructure Holdings Ltd to purchase British rail rolling stock company Eversholt Rail (notified March 9/deadline April 16/simplified) -- German refiner Varo Energy Holding GmbH to acquire German oil products distributor Gekol (notified March 9/deadline April 16/simplified) -- AR Packaging Group to buy U.S. packaging company MeadWestvaco Corp's European tobacco and general packaging folding carton operations (notified March 6/deadline April 15/simplified) -- German insurer Allianz, Canadian investment fund manager Alberta Investment Management Corp and Utilities Trust of Australia to acquire joint control of railway rolling stock producer Porterbrook (notified March 5/deadline April 14/simplified) EXTENSIONS AND OTHER CHANGES -- French telecoms operator Orange to acquire Spanish provider Jazztel (notified Oct. 16/deadline extended to April 30 from April 24 after the Commission resumed its scrutiny after a four-day halt/Orange offered commitments on March 6) -- German conglomerate Siemens to purchase U.S. oilfield equipment maker Dresser-Rand Group Inc (notified Jan. 9/deadline extended for the second time to July 14 from June 30) FIRST-STAGE REVIEWS BY DEADLINE MARCH 12 -- German car parts maker ZF Friedrichshafen to buy U.S. peer TRW Automotive Holdings Corp (notified Jan. 22/deadline extended to March 12 from Feb. 26 after ZF submitted concessions) MARCH 13 -- British insurer Aviva to acquire rival Friends Life (notified Feb. 6/deadline March 13) -- U.S. medical equipment supplier Becton Dickinson & Co to purchase U.S. maker of infusion pumps and other medical devices CareFusion Corp (notified Feb. 6/deadline March 13) MARCH 16 -- Irish building products group Kingspan to acquire Belgian holding company Steel Partners NV, which owns Belgian insulated panels maker Joris Ide Group (notified Feb. 9/deadline March 16) -- Irish drugmaker Actavis to acquire botox maker Allergan (notified Feb. 9/deadline March 16) MARCH 17 -- Japanese electronics maker Panasonic Corp and holding company Ficosa Inversion, which currently has sole control of Ficosa International, to acquire joint control of Spanish car parts maker Ficosa International (notified Feb. 10/deadline March 17/simplified) MARCH 18 -- Abellio, the international unit of Dutch state-owned rail company NS, to take control of the ScotRail rail services in Scotland (notified Feb. 11/deadline March 18) -- British support services group DCC to buy Esso's French motorway retail network (notified Feb. 2/deadline March 18/simplified) MARCH 20 -- Luxembourg-based steel producer ArcelorMittal and Italian peer Coils Lamiere Nastri SpA to form a joint venture (notified Feb. 13/deadline March 20) MARCH 23 -- French investment company Wendel S.A. to aquire Austrian packager Constantia Flexibles (notified Feb. 16/deadline March 23/simplified) MARCH 24 -- The Carlyle Group and Chinese state-owned financial group Citic to jointly acquire AsiaSat (notified Feb. 17/deadline March 24/simplified) MARCH 25 -- IFM Global Infrastructure Fund and Mexican builder OHL Mexico S.A.B. de C.V. to jointly control Mexican toll road operator Concesionaria Mexiquense (ConMex) (notified Feb. 18/deadline March 25/simplified) MARCH 30 -- China Shipbuilding Power Engineering Institute, which is part of Chinese group China State Shipbuilding Corporation, and Finnish ship engine and power plant maker Wartsila to set up a joint venture (notified Feb. 23/deadline March 30/simplified) MARCH 31 -- German publishers Holtzbrinck Publishing Group and Springer Science+Business Media, which is owned by private equity investor BC Partners, to set up a joint venture (notified FEb. 24/deadline March 31) APRIL 7 -- Investment fund Apax Partners to acquire chemicals distributor Azelis (notified Feb. 26/deadline April 7/simplified) -- Private equity firms the Blackstone Group and TPG Global to jointly acquire British financial services providers Acenden Ltd and AMS Decisions Advisers (notified Feb. 26/deadline April 7/simplified) -- South African furniture retailer Steinhoff to acquire local apparel firm Pepkor (notified Feb. 26/deadline April 7/simplified) -- German insurer Talanx and Portuguese Mota-Engil to jointly acquire Portuguese company Indaqua Industry and Water Management SA (notified Feb. 26/deadline April 7/simplified) APRIL 8 -- Norwegian telecoms company Telenor and Swedish peer TeliaSonera to combine their Danish mobile businesses (notified Feb. 27/deadline April 8) APRIL 9 -- Private equity firm PAI to acquire Dutch clothing and footwear retailer Lion Adventure (notified March 2/deadline April 9/simplified) -- U.S. flooring products maker Mohawk Industries Inc to acquire Luxembourg-based International Flooring Systems (notified March 2/deadline April 9) APIRL 10 -- Chinese state-owned steelmaker Hebei Iron & Steel Group to acquire a controlling stake in Swiss steel product trader from DPH Duferco International Trading Holding (notified March 3/deadline April 10/simplified) -- U.S. card payment services provider American Express and Swiss bank Credit Suisse to restructure their Swiss and Liechtenstein joint venture (notified March 3/deadline April 10/simplified) APRIL 20 -- Telecoms group Altice to acquire Brazilian peer Grupo Oi's Portuguese assets (notified Feb. 25/deadline April 20/concessions offered April 20) MAY 26 -- U.S. orthopaedic products maker Zimmer Holdings to acquire rival Biomet Inc (notified Aug. 29/deadline May 26 after the companies revised their concessions) JUNE 1 -- Mondelez International Inc and competitor D.E Master Blenders to merge their coffee businesses in new company called Jacobs Douwe Egberts (notified Oct. 27/deadline extended for the fourth time to June 1 from May 13) JUNE 26 -- PRS for Music Ltd (PRSfM), Foreningen Svenska Tonsattares Internationella Mysikbyra (Stim) and Gesellschaft für musikalische Aufführungs- und mechanische Vervielfältigungsrechte (Gema) to set up a joint venture to administer mechanical and performing rights (notified Nov. 28/deadline extended for the third time to June 26 from May 29) JULY 8 -- U.S. conglomerate General Electric to acquire most of French engineering group Alstom's power equipment business (notified Jan. 19/deadline extended to July 8 from Feb. 23 after the European Commission opened an in-depth investigation) -- Commodities trader Cargill to buy rival Archer Daniels Midland Co's global chocolate business (notified Jan. 19/deadline extended to July 8 from Feb. 23 after the European Commission opened an in-depth investigation) SUSPENDED -- SOCAR, Azerbaijan's state energy company, to buy stakes in Greek natural gas grid operator DESFA from Greek natural gas utility DEPA (notified Oct. 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 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 Philip Blenkinsop)