EU mergers and takeovers (July 19)

By Reuters / July 20, 2018 / / Article Link

BRUSSELS, July 19 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:


-- Spanish fashion and cosmetics maker PUIG and German electrical appliances maker Bosch (NS:BOSH) Group's unit BSH to jointly acquire Spanish perfume maker Noustique (approved July 18)

-- Metals and commodities company Liberty House Group to acquire French aluminium smelter Aluminium Dunkerque from Rio Tinto RIO.L RIO.AX (approved July 18)

-- South Korean consumer electronics company LG Electronics 066570.KS to acquire Austrian car light maker ZKW Holding GmbH (approved July 18)

-- U.S. house appliances maker Whirlpool WHR.N and Italian cooker hood maker Elica ELC.MI to jointly acquire Indian electrical appliances company Elica PB India (approved July 17)

-- U.S. private equity firm Lindsay Goldberg to acquire German plastic product maker Coveris Rigid EHSI.UL (approved July 17)


-- Private equity firms S.L.04 and Ambienta SFT to acquire joint control of cosmetic packager Pibiplast S.p.A. (notified July 18/deadline Aug. 23/simplified)

-- Private equity firm HgCapital to acquire software company Allocate from private equity firm Vista Equity Partners (notified July 17/deadline Aug. 22)

-- Norway's DNB Bank DNB.OL and Norwegian consumer goods company Orkla ORK.OL to set up a joint venture (notified July 16/deadline Aug. 21/simplified)

-- Private equity firm KKR KKR.N to acquire German IT services provider Sellbytel Group (notified July 16/deadline Aug. 21/simplified)

-- French insurer Axa AXAF.PA to acquire XL Group (notified July 12/deadline Aug. 17/simplified)

-- U.S. private equity firms Clearlake Capital Group and Vista to acquire joint control of U.S. aerial imagery and software company Eagleview Technology Corp (notified July 11/deadline Aug. 16/simplified)

-- Chinese domestic appliance maker Hisense 600060.SS to acquire Slovenian peer Gorenje (notified July 6/deadline Aug. 10/simplified)




July 20

-- Private equity firm Blackstone (NYSE:BX) BX.N to acquire a majority stake in Thomson Reuters' TRI.TO Financial and Risk (F&R) unit (notified June 15/deadline July 20)

-- Finnish biofuel company Neste NESTE.HE to acquire a majority stake in Dutch animal fat trader Demeter Animal Fats and Proteins (notified June 15/deadline July 20)


-- Copper company KME, which is part of Intek Group, to acquire German peer MKM Mansfelder Kupfer and Messing GmbH (notified June 4/deadline extended to July 23 from July 9 after the companies provided concessions)

-- French aerospace and defence group Thales TCFP.PA to acquire Franco-Dutch chipmaker Gemalto GTO.AS (notified June 18/deadline July 23)


-- German construction products maker Knauf International to acquire U.S. peer Armstrong World Industries' AWI.N EMEA and Pacific Rim businesses (notified June 20/deadline July 25)


-- German company Oetker Group to acquire a majority stake in Spanish sparkling wine producer Freixenet (notified June 22/deadline July 27)

-- Swiss asset manager Partners Group Holding PGHN.S to acquire German metering company Techem from Macquarie (notified June 22/deadline July 27/simplified)

-- Czech investment group PPF Group to acquire Norwegian telecoms provider Telenor's TEL.OL central European businesses (notified June 22/deadline July 27)

-- Macquarie Group MQG.AX and Goldman Sachs (NYSE:GS) GS.N to jointly acquire Dutch terminal operator HES International (notified June 22/deadline July 27)


-- Irish fresh food producer Total Produce T7O.I to acquire a 45-percent stake in U.S. peer Dole Food Company DFCI.UL (notified June 11/deadline extended to July 30 from July 16 after Total offered concessions)


-- German DIY retail chains Raiffeisen Ware Austria AG and ZG Raiffeisen to set up a joint venture (notified June 26/deadline July 31/simplified)


-- German copper products maker Wieland-Werke to acquire German copper smelter Aurubis' NAFG.DE flat rolled products unit Products Schwermetall (notified June 13/deadline extended to Aug. 1 from July 18 after the companies offered concessions)


-- Italian car rental company Eurocar, which is a unit of German carmaker Volkswagen eurocar VOWG_p.DE , to acquire sole control of Italian peer Bonaldi (notified June 28/deadline Aug. 2)


-- Swiss logistics company Kuehner+Nagel KNIN.S and Singapore state-owned investment company Temasek to set up a joint venture (notified June 29/deadline Aug. 3/simplified)

-- French insurer Axa AXAF.PA to acquire German peer Roland (notified June 29/deadline Aug. 3/simplified)


-- Algerian state-owned oil and gas company Sonatrach to acquire an Italian refinery from Exxon Mobil (NYSE:XOM) XOM.N (notified July 3/deadline Aug. 7/simplified)

-- U.S. powertrain technology company Tenneco TEN.N to acquire car parts maker Federal Mogul (notified July 3/deadline Aug. 7)


-- Singapore state-owned property developer GIC Group and real estate developers Frasers Property Ltd JustGroup to set up a joint venture (notified July 4/deadline Aug. 8/simplified)

-- Private equity firm Bain Capital to acquire German tyre company Reifen Krieg Group (notified July 4/deadline Aug. 8/simplified)


-- Private equity firm KKR KKR.N to acquire British restaurant operator Casual Dining Bidco BLASTT.UL (notified July 5/deadline Aug. 9/simplified)

-- Holding company Elixia, which is controlled by Nordic private equity firm Altor Fund III, and Tryghedsgruppen, whose members are policyholders of insurer Tryg TRYG.CO , to jointly acquire fitness chain Fitness DK Holding (notified July 5/deadline Aug. 9/simplified)

-- French consumer credit provider CA Consumer Finance S.A. and Spanish bank Bankia BKIA.MC to set up a joint venture (notified July 5/deadline Aug. 9/simplified)

-- Japan's Sumitomo Corp 8053.T and Belgian wind farm developer Parkwind to jointly acquire Belgian wind farm operator Northwester2 (notified July 5/deadline Aug. 9/simplified)

AUG 10

-- Fertiliser company Uralchem to acquire sole control of Russian potash producer Uralkali URKA.MM (notified July 6/deadline Aug. 10/simplified)

AUG 16

-- Oxford Jersey Holding Company Limited, Dutch investment fund ABP, real estate investment fund DV4 and Qatari Diar Real Estate Investment Company to acquire joint control of British real estate developer (notified July 11/deadline Aug. 16/simplified)

AUG 17

-- HK conglomerate CK Hutchison 0001.HK to acquire sole control of Italian mobile network Wind Tre from Dutch mobile operator Veon VON.AS (notified July 12/deadline Aug. 17)

AUG 20

-- U.s. investment company Cerberus Group to acquire French ground handling services operator WES Global Holding (notified July 13/deadline Aug. 20/simplified)

AUG 24

-- German industrial gases group Linde LING.DE to merge with U.S. peer Praxair PX.N (notified Jan. 12/ deadline extended to Aug. 24)


-- iPhone maker Apple AAPL.O to acquire UK music streaming service Shazam (notified March 14/deadline extended to Sept. 4 from April 23 after the European Commission opened an in-depth investigation)

OCT 31

-- German company BASF BASFn.DE to acquire Belgian chemicals company Solvay's SOLB.BR worldwide polyamide business (notified May 22/deadline extended to Oct. 31 from June 26 after the European Commission opened an in-depth investigation)

NOV 16

-- Deutsche Telekom DTEGn.DE to acquire Swedish peer Tele2's TEL2b.ST Dutch unit and merge it with its Dutch business T-Mobile Nederland (notified May 2/deadline extended for the second time to Nov. 16 from Nov. 9 after the companies asked for more time)

DEC 19

-- Siemens (NS:SIEM) SIEGn.DE and Alstom ALSO.PA to merge their railway operations (notified June 8/deadline extended to Dec. 19 from Nov. 21 after the companies asked for more time)



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.


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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