Thursday, 3 January 2013

EU mergers and takeovers (Jan 3)

Jan 3(Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:
APPROVALS AND WITHDRAWALS
DEC 20
-- Private equity firm Bain Capital Investors to buy tool maker Apex Tool Group, which is owned by Aegean Partners, which in turn is controlled by Danaher Corp and Cooper Industries under simplified procedure.
DEC 21
-- General Motors France, a subsidiary of General Motors , and SSPF, which is a holding company of car distributor the Maurin Group, approved to acquire joint control of Opel car distributor Auto Distribution Provence under simplified review.
NEW LISTINGS
DEC 21
-- German service company BayWa AG to acquire a 60 percent stake in German agricultural wholesaler and retailer Bohnhorst Agrarhandel (notified Dec. 21/deadline Feb. 6)
DEC 21
-- German private equity group Droege International to take control of German technology company ALSO-Actebis (notified Dec. 21/deadline Feb. 5)
EXTENSIONS AND OTHER CHANGES
FIRST-STAGE REVIEWS BY DEADLINE
DEC 19
-- Canadian private equity company Onex Corp to buy German plastics machinery maker KraussMaffei AG (notified Nov. 14/deadline Dec. 19)
DEC 21
-- German meat producer FIRoWa Handels GmbH and peer OSI Europe Foodworks to set up a joint venture (notified Nov. 16/deadline Dec. 21/simplified)
-- Investment bank Goldman Sachs and private equity firm KKR to acquire joint control of hotel operator QMH (notified Nov. 16/deadline Dec. 21)
-- Walt Disney Co to buy Lucasfilm (notified Nov. 16/deadline Dec. 21)
-- U.S. communications company Syniverse Technologies to buy Luxembourg-based communications services company Mach (notified Nov. 16/deadline Dec. 21)
JAN 9
-- U.S. private equity firm AEA Investors LP and the Ontario Teachers' Pension Plan Board to acquire joint control of Luxembourg-based automated handling systems maker Dematic (notified Nov. 23/deadline Jan. 9/simplified)
JAN 10
-- General Motors France, a subsidiary of General Motors , and SSPF, which is a holding company of car distributor the Maurin Group, to acquire joint control of Opel car distributor Auto Distribution Provence (notified Nov. 26/deadline Jan. 10/simplified)
JAN 14
-- Private equity firm HIG Europe Capital to buy car fuel distributor Petrochem Carless Holdings (notified Nov. 28/deadline Jan. 14)
-- Alpha Bank, Eurobank EFG Private Bank (Luxembourg) SA and Bank of Cyprus Public Co Ltd to acquire shopping mall operator Liberty Center SRL (notified Nov. 28/deadline Jan. 14/simplified)
JAN 15
-- Private equity firm Reggeborgh to acquire sole control of Dutch builder Koninklijke Volker Wessels Stevin (notified Nov. 29/deadline Jan. 15/simplified)
-- U.S. agribusiness group Bunge Group to buy biodiesel producers Mannheim Bio Fuel GmbH, which is based in Germany, and Novaol Austria (notified Nov. 29/deadline Jan. 15/simplified)
JAN 16
-- Hedge fund Strategic Value Partners to buy German plastic films group Kloeckner Pentaplast from private equity firm Blackstone Group LP (notified Nov. 30/deadline Jan. 16)
JAN 18
-- Polish chemicals company Azoty Tarnow to buy Polish fertiliser and chemicals producer Zaklady Azotowe Pulawy (notified Dec. 4/deadline Jan. 18)
JAN 22
-- Irish credit institution Elavon Financial Services Ltd, which is a subsidiary of U.S. bank Bancorp, and Spanish bank Banco Santander to set up a joint venture (notified Dec. 6/deadline Jan. 22/simplified)
JAN 23
-- Private investor firm Apollo to acquire control of watch retailer Aurum Holdings (notified Dec. 7/deadline Jan. 23/simplified)
JAN 28
-- Private investment firm Vitronet Investments, which is jointly controlled by German utility RWE and Luxembourg-based Aesop S.a.r.l, to acquire German information services provider Infinity (notified Dec. 12/deadline Jan. 28/simplified)
JAN 29
-- Investment bank Goldman Sachs, TPG LundyCo L.P. and British bank Barclays to jointly acquire British hotel operator Kew Green (notified Dec. 13/deadline Jan. 29/simplified)
JAN 30
-- Japanese car parts company Yazaki Europe to acquire sole control of car electrical distribution systems maker S-Y Systems Technologies Europe, which jointly controlled by Yazaki and Continental Automotive GmbH (notified Dec. 14/deadline Jan. 30/simplified)
JAN 31
-- Austria's EVN Netz GmbH, Austrian pipeline operator Fergnas Netz and gas network Gasnetz Steiermark to acquire a stake in Austrian Gas Grid Management (notified Dec. 17/deadline Jan. 31/simplified)
FEB 5
-- U.S. mail delivery company United Parcel Service Inc to acquire Dutch peer TNT Express (notified June 15/deadline extended for the fifth time to Feb. 5 from Jan. 15 after UPS offered commitments)
FEB 27
-- Ryanair to acquire Aer Lingus (notified July 24/deadline extended for the third time to Feb. 27 from Feb. 6 after Ryanair offered more commitments)
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.

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