Advertisement

EU mergers and takeovers (Aug 25)

BRUSSELS, Aug 25 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process: APPROVALS AND WITHDRAWALS -- Varo Energy, a joint venture between the world's top oil trader Vitol and private equity firm Carlyle Group , is expanding its reach in Europe through a merger with Dutch-based storage and trading company Argos (approved Aug. 21) NEW LISTINGS -- Apollo Global Management LLC to acquire magnetic and battery technologies company OM Group Inc (notified Aug. 24/deadline Sept. 28) -- U.S. office supplier Staples to acquire U.S. rival Office Depot (notified Aug. 21/deadline Sept. 25) -- Chinese investment group Fosun to acquire sole control of wealth management group BHF-Kleinwort Benson Group SA (notified Aug. 21/deadline Sept. 25/simplified) -- Indian vehicle maker Mahindra & Mahindra and Japan's Mitsubishi Heavy Industries to acquire joint control of Mitsubishi Agricultural Machinery Co. Ltd, which is now solely owned by Mitsubishi Heavy Industeis (notified Aug. 19/deadline Sept. 23/simplified) EXTENSIONS AND OTHER CHANGES None FIRST-STAGE REVIEWS BY DEADLINE AUG 28 -- U.S. real estate services provider DTZ to acquire U.S. peer Cushman & Wakefield (notified July 24/deadline Aug. 28) SEPT 1 -- British engineering company GKN to acquire Dutch company Fokker Technologies (notified July 28/deadline Sept. 1/simplified) -- British support services provider DCC Group to acquire French gas company Butagaz from Anglo Dutch oil company Royal Dutch Shell (notified July 28/deadline Sept. 1/simplified) -- U.S. grains company Archer Daniels Midland Co to acquire starch producer Eaststarch (notified July 28/deadline Sept. 1/simplified) SEPT 2 -- Anglo-Dutch oil major Royal Dutch Shell to acquire BG Group (notified July 29/deadline Sept. 2) -- South African paper maker Mondi to acquire some assets from portfolio company Walki (notified July 29/deadline Sept. 2) SEPT 4 -- Private equity firms 3i Group and AMP Capital Investors to acquire joint control of offshore emergency and rescue services provider Esvagt (notified July 31/deadline Sept. 4/simplified) SEPT 7 -- Austrian bank Raiffeisen Zentralbank Osterreich to acquire sole control of Austrian pension fund Valida Holding (notified Aug. 3/deadline Sept. 7/simplified) -- Mahindra World City Developers and Japan's Sumitomo Corp to set up a joint venture (notified Aug. 3/deadline Sept. 7/simplified) SEPT 8 -- Evo Payments International, Raiffeisen Bank Polska and Czech lender Raiffeisenbank to jointly control two new subsidiaries with merchant acquiring and acquiring processing services transferred from the two banks (notified Aug. 4/deadline Sept. 8/simplified) SEPT 9 -- U.S. grain trader Archer Daniel Midland to acquire Belgian vegetable oil distributor AOR NV (notified Aug. 5/deadline Sept. 9) -- German retailer REWE to acquire some travel units from Swiss travel operator Kuoni Reisen (notified Aug. 5/deadline Sept. 9/simplified) SEPT 10 -- Buyout group KKR to acquire majority stake in German fibre-optic network operator Deutsche Glasfaser (notified Aug. 6/deadline Sept. 10/simplified) SEPT 11 -- U.S. investment firm Apollo Global Management to acquire majority control of Slovenian bank Nova KBM (notified Aug. 7/deadline Sept. 11/simplified) -- U.S. conglomerate General Electric to acquire most of French engineering group Alstom's power equipment business (notified Jan. 19/deadline extended for third time to Sept. 11 from Aug. 21) SEPT 14 -- Singapore-listed palm oil processor Wilmar International and Italian oil products company Fox Petrolifera Italiana SpA to set up a joint venture (notified Aug. 10/deadline Sept. 14/simplified) -- BPIFrance and Springwater Capital LLC to acquire joint control of French paper producer Delion France (notified Aug. 10/deadline Sept. 14/simplified) -- Naxicap Partners and Fonds Avenir Automobile to acquire joint control of French car parts maker Defta Group (notified Aug. 10/deadline Sept. 14/simplified) SEPT 16 -- Norwegian telecoms company Telenor and Swedish peer TeliaSonera to combine their Danish mobile businesses (notified Feb. 27/deadline extended to Oct. 7 from Sept. 16 after the companies offered commitments) -- Private equity firm CVC Capital Partners to acquire energy company PKP Energetyka (notified Aug. 12/deadline Sept. 16/simplified) -- Private equity firms Advent International, Bain Capital and Clessidra to jointly acquire Italian banking services company ICBPI (notified Aug. 12/deadline Sept. 16) -- Chinese state-owned food firms Bright Food Group Co Ltd to acquire Spanish holding company Invermik SA (notified Aug. 12/deadline Sept. 16/simplified) SEPT 17 -- Kuwait Investment Authority (KIA) and Spanish energy group Gas Natural to acquire joint control of Global Power Generation (notified Aug. 13/deadline Sept. 17/simplified) -- Buyout group KKR to acquire German cutlery and coffee-machine maker WMF together with Austrian holding company FIBA (notified Aug.13/deadline Sept. 17) SEPT 18 -- U.S. distressed investment fund Apollo to acquire majority stake in steel trader Stemcor (notified Aug. 14/deadline Sept. 18/simplified) -- Japanese insurer Tokio Marine Holdings Inc to buy U.S. specialty insurer HCC Insurance Holdings Inc (notified Aug. 14/deadline Sept. 18/simplified) -- Groupe Acticall to acquire customer relationship management company Sitel (notified Aug. 14/deadline Sept. 18/simplified) -- Dutch chipmaker NXP to acquire U.S. peer Freescale (notified July 31, deadline extended to Sept. 18 from Sept. 4 after NXP offered concessions) SEPT 21 -- Pfizer to acquire British drugmaker GlaxoSmithKline's menACWY meningitis vaccine business (notified Aug. 17/deadline Sept. 21) -- Cable telecoms company Liberty Global's Belgian subsidiary Telenet to buy mobile network operator Base from Dutch group KPN (notified Aug. 17/deadline Sept. 21) -- European private equity group Cinven to buy majority stake in German laboratory operator Synlab from BC Partners (notified Aug. 17/deadline Sept. 21/simplified) SEPT 24 -- British private equity firm Equistone Partners Europe to acquire German apparel retailer TriStyle Mode (notified Aug. 20/deadline Sep. 24/simplified) DEC 9 -- U.S. drinks can maker Ball Corp to acquire British rival Rexam Plc (notified June 15/deadline extended to Dec. 9 from Nov. 25) JAN 13 -- U.S. packages delivery company FedEx to acquire Dutch peer TNT (notified July /deadline extended to Jan. 13 from Dec. 8 after the companies asked for more time) SUSPENDED -- Oilfield services provider Halliburton to buy rival Baker Hughes in a stock and cash transaction (notified July 23/deadline suspended after the companies provided insufficient information) -- 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 Foo Yun Chee)