BRUSSELS, July 10 (Reuters) – Here are the mergers currently under review by the European Commission and a brief guide to the EU merger process:
APPROVALS AND WITHDRAWALS
— Canada Pension Plan Investment Board (CPPIB) and British Telecom Pension Scheme jointly acquire Milton Park Business Park (approved July 7)
— Japanese conglomerate Itochu, Japanese printer Toppan Printing and Thai Thung Hua Sinn to jointly acquire plastic bag packaging company TPN Food Packaging (approved July 7)
– US private equity firm Lone Star to acquire Portuguese bank Novo Banco (approved July 7)
NEW REGISTRATIONS
— Chinese chemical company China National Bluestar (Group) Co. Ltd and Japanese fiber and chemical company AKC to establish joint venture (notified July 6/deadline August 11/simplified)
EXTENSIONS AND OTHER CHANGES
None
FIRST STEP REVIEWS BY DEADLINE
JULY 17
– US travel search site The Priceline Group to acquire US peer Momondo Group (notified June 12/deadline July 17)
JULY 18
– UK property developer Segro plc and the Public Sector Pension Investment Board (PSPIB) to jointly acquire land (notified 13 June/deadline 18 July/simplified)
JULY 19
– French utility group Suez SA to acquire the water and process technology business of US conglomerate General Electric (notified June 14/deadline July 19)
JULY 20
– Private equity firm Blackstone Group to acquire Finnish real estate investment company Sponda (notified June 15/deadline July 20/simplified)
– Lithuanian mobile network operator Bite Lietuva, Swedish mobile operator Tele2 and Swedish Telia to form joint venture (notification June 15/deadline July 20)
JULY 24
– German brake maker Knorr-Bremse to acquire Swedish counterpart Haldex (notified June 1/delay extended from July 7 to July 24 after Knorr-Bremse offered concessions)
— KPS Capital Partners to acquire U.S. auto parts maker DexKo Global (notified June 16/deadline July 24/simplified)
– Australian international investment firm IFM and port builder and concession operator OHL will acquire joint control of toll road and airport operator OHL Mexico (notified June 16/deadline July 24/simplified)
— Megatrends, a unit of investment fund European Cities Fund, and UK property investment fund Intu Properties Plc will jointly acquire Spain’s Xanadu Retail and Leisure (notified June 16/deadline July 24/simplified)
JULY 26
— Swedish automaker Volvo to acquire Swedish car rental company First Rent A Car AB (notified June 20/deadline July 26)
– UK asset manager Intermediate Capital Group to acquire nursing home operator Domusvi Group (notified June 20/deadline July 26/simplified)
– British-Swiss chemical company Ineos to acquire British oil company BP’s Forties pipeline system (notified June 20/deadline July 26/simplified)
– Universities Superannuation Scheme Limited (USSL) and US bank Goldman Sachs to acquire joint control of Spanish energy company Redexis Gas (notified June 20/deadline July 26/simplified)
— German conglomerate Harng Central Department Store Ltd and property developer Signa Prime will acquire joint control of German property developer Berlin, Passauer Straße 1-3 Immobilien GmbH & Co. KG (notified June 20/deadline July 26/simplified)
JULY 27
– U.S. chemical company DuPont to acquire health and nutrition business of U.S. pesticide maker FMC (notified June 7/delay extended from July 12 to July 27 after DuPont offered concessions)
JULY 28
– US pesticide maker FMC to acquire US chemicals firm DuPont’s crop protection business (notified June 8/delay extended from July 13 to July 28 after FMC offers concessions)
JULY 31
– The maritime terminal operator PSA International Pte Ltd and Terminal Investment Ltd Sarl, which is indirectly and jointly controlled by the Swiss container company MSC (Mediterranean Shipping Company), will jointly acquire the Belgian container terminal operator PSA DGD ( notified 23 June/deadline 31 July)
AUGUST 1
– The property developer Bouygues Immobilier and the hotel group Accor jointly acquire the French company Nextdoor now controlled solely by Bouygues Immobilier (notification June 26/deadline August 1/simplified)
AUGUST 2ND
– Czech energy company EPH to acquire two gas-fired power plants in the UK from UK energy supplier Centrica (notified June 27/deadline August 2/simplified)
AUGUST 3
– The American industrialist Deere & Co will buy the German road construction company Wirtgen (notified on June 28/deadline August 3)
AUGUST 4
– Japan’s Toray Industries and Japanese industrial conglomerate Mitsui Co Ltd to jointly acquire Japanese fragrance and chemical maker Soda Aromatic Co Ltd (notified June 29/deadline August 4/simplified)
– Private equity firms CCMP Capital and MSD Aqua Partners to jointly acquire pool equipment maker Hayward Industries (notified June 29/deadline August 4/simplified)
– Credit rating agency Moody’s to acquire Dutch business intelligence statistics provider Bureau van Dijk Electronic Publishing (notified June 29/deadline August 4/simplified)
– UK property developer Segro plc and the Public Sector Pensions Investment Board of Canada (PSPIB) to jointly acquire French logistics asset Morgane Portfolio (notified June 29/deadline August 4/simplified)
– Austrian construction company WIG Wietersdorfer Holding GmbH and Saudi Amiantit to create joint venture (notified June 29/deadline August 4)
AUGUST 7
– The French luxury goods group LVMH and the Italian eyewear manufacturer Marcolin will create a joint venture (notified on June 30/deadline August 7/simplified)
– The German industrial group Bayer will buy the American seed company Monsanto (notified on June 30/deadline August 7)
AUGUST 8
– Intervias, which is the holding company of petrol station operator Euro Garages Ltd, will acquire a business unit of Italian petrol station operator Esso Italiana (notified July 3/deadline August 8/simplified)
AUGUST 10
– Swiss vending service provider Selecta, controlled by private equity firm KKR, to acquire Dutch counterpart Pelican Rouge (notified July 5/deadline August 10)
SUSPENDED DEADLINE
– US smartphone chipmaker Qualcomm to acquire Dutch company NXP Semiconductors NV (notified April 28/deadline suspended June 28 after companies failed to provide relevant information)
GUIDE TO THE MERGER PROCESS IN THE EU
TIME LIMIT :
The European Commission has 25 working days after the submission of an agreement for a first stage review. It can extend this period from 10 working days to 35 working days, to examine either the solutions proposed by a company, or the request of an EU Member State to deal with the case.
Most mergers are approved, but occasionally the Commission opens a detailed second stage investigation lasting up to 90 additional working days, which it can extend up to 105 working days.
SIMPLIFIED:
Under the simplified procedure, the Commission announces the authorization of non-controversial first stage mergers without giving reasons for its decision. Cases can be reclassified as non-simplified – that is, ordinary first stage reviews – until they are approved. (Reporting by Foo Yun Chee)
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