March 26, 2019 / 5:50 PM / 3 months ago

EU mergers and takeovers (March 26)

BRUSSELS, March 26 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:


— DA Agravis Machinery Holding and Danish Agro Machinery Holding to acquire Kesko Group’s agrimachinery activities in Finland, Estonia, Latvia and Lithuania from Finnish subsidiary Konekesko Oy (approved March 25)

— U.S. tech and consulting services provider DXC Technology to acquire U.S. software development company Luxoft Holding (approved March 25)

— Japan’s CK Holdings Co, which is owned by KKR, to acquire Italian car parts maker Magneti Marelli from Italian auto maker Fiat Chrysler Automotives (approved March 14)


— France’s Engie S.A. and Canada’s Caisse de Depot et Placement du Quebec to obtain joint control over Brazil’s Transportadora Associada de Gas S.A. (notified March 21/deadline April 30/simplified)

— U.S.-based private equity companies TA Associates Management and Vista Equity Partners Management to acquire joint control over Aptean Inc. and Yaletown Acquiror (notified March 22/deadline May 2/simplified)


— U.S. aluminum company Novelis, which is a unit of India’s Hindalco Industries Ltd, to acquire aluminum processor Aleris (in-depth investigation opened by Commission on March 25)

— German energy company E.ON to acquire German peer Innogy’s retail and network activities (notified Jan. 31/deadline suspended on March 22)



— Swiss chemicals company Sika to acquire French rival Parex from private equity firm CVC Capital Partners (notified Feb. 20/deadline March 27)


— ArcelorMittal and Italy’s CLN Group to acquire joint control over two Italian steel service centers of the Ilva Group (notified Feb. 21/deadline March 28)


— Financial services company Great-West Lifeco’s Irish Life and Clyde Property Fund and UK property developer Hammerson to jointly acquire a shopping centre in Dublin, Ireland (notified Feb. 22/deadline March 29)


— India’s HCL Technologies to acquire sole control over four of IBM’s software product portfolios (notified March 5/deadline April 9/simplified)

— France’s Caisse des Depots et Consignations and solar group Reden H2 to acquire joint control over French photovoltaic power plant company Berroute (notified March 5/deadline April 9/simplified)

— France’s Mirova and Bouyges Batiment International to acquire joint control of Bouygues Construction Airport Concessions Europe (notified March 5/deadline April 9/simplified)


— Mercuria Energy Group to acquire marine fuel logistics company Aegean Marine Petroleum Network (notified March 7/deadline April 11/simplified)


— GTCR LLC and U.K.’s Apax Partners LLP to acquire joint control of U.S.-based Dolphin TopCo (notified March 13/deadline April 17/simplified)


— Swedish telecoms provider Telia Company to acquire Bonnier Broadcasting which cludes brands such as Swedish TV4 and streaming service C More and Finnish MTV (notified March 15/deadline April 24)

— French fashion company LVMH to acquire sole control over British hotel and travel operator Belmond Ltd (notified March 15/deadline April 24/simplified)


— French nursing home operator Financiere Colisee to acquire sole control over Belgian nursing home operator Armonea Group (notified March 18/deadline April 25/simplified)


— Liberty House Group to acquire sole control over steel companies Galati/Skopje HoldCo, Paloma S.r.l., ArcelorMittal Ostrava a.s., Liege Steel Industry SA and ArcelorMittal Dudelange S.A. (notified March 19/deadline April 26/simplified)


— Italy’s doBank S.p.A. to acquire sole control over Altamira Asset Management S.A. and its affiliates with the exception of Altamira Asset Management Cyprus (notified March 21/deadline April 30/simplified)


— International power plant supplier Ansaldo Energia and Russia’s REP Holding to create REPH Ansaldo Gas Turbine joint venture (notified March 22/deadline May 2/simplified)

MAY 13

— Germany’s Thyssenkrupp and India’s Tata Steel to set up a steel joint venture (notified Sept. 25/deadline extended to May 13 from April 29 after the companies asked for more time)

MAY 20

— Electronic and motor manufacturing company Nidec to acquire sole control of U.S. white goods maker Whirlpool Corp’s compressor subsidiary Embraco (notified Oct. 8/deadline extended to May 20 from May 13)


— UK mobile telephony provider Vodafone to acquire U.S. Liberty Global’s telecommunications business in the Czech Republic, Germany, Hungary and Romania (notified Oct. 19/deadline June 3)


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. (Reporting by Clare Roth;)

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