August 3, 2016 / 10:17 AM / 2 years ago

EU mergers and takeovers (Aug 3)

BRUSSELS, Aug 3 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:


— Brazilian steel producer Gerdau and Japan’s Sumitomo Corp to set up a joint venture (approved Aug. 2)

— Italian lender Fiat Chrysler Automotive Bank S.p.A. to acquire joint control of auto financing services provider Ferrari Financial Services S.p.A. (approved Aug. 2)


— Buyout firm Carlyle to acquire a 50-percent stake in Portuguese plastics packaging company Logoplaste (notified Aug. 2/deadline Sept. 7/simplified)





— British mobile telephony operator Vodafone and U.S. cable company Liberty Global to merge their Dutch operations (notified June 14/deadline Aug. 3/commitments submitted on July 12)


— French drugmaker Sanofi to acquire Germany company Boehringer Ingelheim’s consumer healthcare business (notified June 15/deadline extended to Aug. 4 from July 20 after Sanofi submitted concessions)


— Finnish crane maker Konecranes to acquire U.S. crane maker Terex’s cranes business for ports and factories (MHPS) (deadline June 17/deadline extended to Aug. 8 from July 25 after Konecranes offered concessions)


— Dutch paints and coating producer Akzo Nobel to acquire German chemicals maker BASF’s industrial coatings business (notified July 4/deadline Aug. 9)

AUG 10

— U.S. paint company Sherwin-Williams Co to acquire U.S. rival Valspar Corp (notified July 5/deadline Aug. 10)

AUG 11

— U.S. chemicals company Dow Chemical to merge with DuPont (notified June 22/deadline extended to Aug. 11 from July 28 after the companies offered concessions)

AUG 12

— Private equity firm Triton to acquire techical services provider Voith Industrial Services (notified July 7/deadline Aug. 12/simplified)

— U.S. contract medical research provider Quintiles Transnational Holdings Inc to merge with U.S. healthcare information company IMS Health Holdings Inc (notified July 7/deadline Aug. 12)

AUG 18

— Italian holding company Italmobiliare S.p.A. to acquire Italian private equity company Clessidra SGR (notified July 12/deadline Aug. 18/simplified)

AUG 19

— Investment fund Watling Street to acquire electricity meter and set-top box maker Sagemcom (notified July 13/deadline Aug. 19/simplified)

AUG 23

— Private equity firm CVC Capital Partners to acquire Italian betting company Sisal Group (notified July 15/deadline Aug. 23/simplified)

AUG 25

— Japan Tunnel Systems Corp and Mitsubishi Heavy Industries to set up a joint venture (notified July 19/deadline Aug. 25/simplified)

AUG 26

— French investment company Ardian and French insurer Credit Agricole Assurances to jointly acquire French parking operator Indigo Infra (notified July 20/deadline Aug. 26/simplified)

AUG 29

— Dutch employment agency Randstad to acquire French peer Ausy (notified July 22/deadline Aug. 29/simplified)

— Canadian private equity firm Onex Corp to acquire U.S. wire and cable maker Wireco (notified July 22/deadline Aug. 29/simplified)

— Belgian investment company Cobepa to acquire German logistics company JF Hillebrand Group (notified July 22/deadline Aug. 29/simplified)

AUG 30

— Polish chemicals company Synthos to acquire Swiss-based chemicals group Ineos’ expandable polystyrene business INEOS Styrenics (notified July 25/deadline Aug. 30)

— Japanese cosmetics company Shiseido to acquire Italian fashion house Dolce Gabana’s fragrances, colour cosmetics and skincare business (notified July 25/deadline Aug. 30/simplified)

— British industrial property developer Segro and Canada’s Public Sector Pension Investment Board to acquire a French logistics business (notified July 25/deadline Aug. 30/simplified)


— U.S. healthcare services provider McKesson Corp and asset manager Blackstone to set up a joint venture (notified July 27/deadline Sept. 1/simplified)

— Private equity firm Advent International to acquire New Zealand resins and coating company Nuplex Industries (notified July 27/deadline Sept. 1)


— Ontario Teachers’ Pension Plan Board and Public Sector Pension Board to jointly acquire Cubico Sustainable Investments HOldings Ltd which in turn will acquire five renewable energy power generation companies in Italy and the UK (notified July 28/deadline Sept. 2/simplified)

— Investment bank Goldman Sachs and private equity firm Altor Fund to jointly acquire marine electronics maker Navico and marine maps provider C-Map (notified July 28/deadline Sept. 2/simplified)


— Buyout group CVC to acquire Swedish cigarette pack maker AR Packaging (notified Aug. 1/deadline Sept. 6)

— German forklift truck and robotics maker Kion to acquire U.S. peer Dematic (notified Aug. 1/deadline Sept. 6/simplified)


— CK Hutchison Holdings Ltd and Vimpelcom to merge their Italian mobile operations (notified Feb. 5/deadline extended to Sept. 8 from Aug 18)


— Investment fund Partners Group to acquire real estate services provider Foncia Holding and its subsidiaries (notified July 4/deadline Aug. 9/simplified)

OCT 24

— U.S. rail equipment maker Wabtec Corp to acquire French peer Faiveley Transport SA (notified April 4/deadline Oct. 24/commitments offered July 25)


— 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


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. (Compiled by Foo Yun Chee)

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