February 26, 2009 / 3:45 PM / 10 years ago

EU mergers and takeovers (Feb 26)

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


— German automaker Daimler AG (DAIGn.DE) takes join control of Li-Tec, a German lithium-ion battery cell research and development firm currently controlled by German industrial conglomerate Evonik Industries AG (approved Feb. 26)


— British leisure travel company Thomas Cook Group (TCG.L), which is controlled by German retail and tourism group Arcandor AG AROG.DE, to acquire British independent tour operator Gold Metal International (notified Feb 23/deadline March 30) — British diversified food retail group Associated British Foods Plc, (ABF.L) to acquire Azucarera Ebro S.L., the Spanish sugar arm of Ebro Puleva EVA.MC (notified Feb 23/deadline March 30)

— German gas and electricity supplier EON AG EONG.DE, to acquire Italian electricity supplier MPE Energia Spa, through its subsidiary EON Italia Spa (notified Feb 23/deadline March 30/simplified)





— U.S. private equity fund One Equity Partners II LP, controlled by JPMorgan Chase & Co (JPM.N), to acquire U.S. carbon black producer Columbian Chemicals Holding LLC (notified Jan. 26/deadline March 2/simplified)

— Italian helicopter maker Agusta SpA and CAE Aviation Training BV, a Dutch provider of aerospace simulator technology, acquire joint control over Italian flight simulator operator Rotorsim Srl (notified Jan. 26/deadline March 2/simplified)


— U.S. entertainment company NBC Universal, controlled by General Electric (GE.N); Luxembourg film distributor De Agostini Communications, controlled by De Agostini SpA of Italy; and Italian equity investments company IMI Investimenti SpA, controlled by Intesa Sanpaolo SpA (ISP.MI) of Italy, acquire joint control of Italian film and TV production firm Cattleya SpA (notified Jan. 27/deadline March 3/simplified)


— German pharmaceuticals firm Sanacorp SNCG_p.DE to acquire German peer v.d. Linde (notified Jan. 29/deadline March 5)

— U.S. aluminium producer Alcoa (AA.N) to acquire Norwegian peer Elkem Aluminium ANS (notified Jan. 29/deadline March 5/simplified)


— Norwegian conglomerate Orkla (ORK.OL) acquires control of the whole of Sapa AB, a Swedish maker of soft alloy extrusions (notified Jan. 30/deadline March 6/simplified)

— Italian toll road operator Atlantia SpA (ATL.MI) and Spanish infrastructure firm Acciona (ANA.MC) acquire joint control of the Chilean toll motorway assets of Spain’s Itinere ITIE.MC (notified Jan. 30/deadline March 6/simplified)


— Austrian construction and building materials firm Strabag SE (STRV.VI) and German counterpart Kemna Bau Andreae GmbH & Co KG to take joint control of German peer Hermann Wellmann Tiefbau GmbH & Co KG (notified Feb. 2/deadline March 9/simplified)


— France’s Dassault Aviation (AVMD.PA) and French holding company TSA THMP.PA, controlled by the French state, acquire joint control of French defence electronics firm Thales (TCFP.PA) (notified Feb. 3/deadline March 10)


— German chemical products company BASF SE BASF.DE to acquire Swiss specialty chemicals firm Ciba Holding CIBN.VX (notified Jan. 22/deadline Feb. 26/extended on Feb. 20/new deadline March 12)


— United Arab Emirates investment firm International Petroleum Investment Co to acquire German industrial services provider MAN Ferrostaal AG (MANG.DE) (notified Jan. 23/deadline Feb. 27/extended on Feb. 24/new deadline March 13)


— French insurer CNP Assurances S.A (CNPP.PA) to take control of Irish life insurer CNP Unicredit Life (notified Feb. 11/deadline March 18/simplified)

— French electricity undertaking EDF International, controlled by power giant Electricite de France SA (EDF.PA), and German electricity company EnBW (EBKG.DE), to acquire Polish energy generator Kogeneracja KGEN.WA (notified Feb. 11/deadline March 18/simplified) — French energy group EDF International, controlled by power giant Electricite de France (EDF.PA), and German counterpart EnBW (EBKG.DE), to take join control of Polish power firm ERSA (notified Feb. 11/deadline March 18/simplified)


— French public financial services provider Dexia Credit Local, owned by Belgian banking group Dexia (DEXI.BR), takes control of Austrian counterpart Dexia Kommunalkredit Bank AG, jointly controlled by Dexia CL and Kommunalkredit Austria AG. (notified Feb. 12/deadline March 19/simplified)

— Antin Infrastructure Partners FCPR, a French investment fund sponsored by banking group BNP Paribas (BNPP.PA); investment funds BBEIF LH Sub 06 S.a.r.l of Luxembourg and BBI Europe Holdings of Luxembourg, both belonging to Babcock & Brown BBI.AX Limited of Australia, take joint control of BBI Europe Holdings S.a.r.l of Luxembourg which operates ports and cargo handling services.(notified Feb. 12/deadline March 19/simplified)


— French media group Lagardere SCA (LAGA.PA), through its French publishing subsidiary Hachette Filippacchi Press HFP, and Japanese trading company Sumitomo Corp (8053.T), to acquire joint control of Japanese publisher Hachette FujinGaho (notified Feb. 13/deadline March 20/simplified)

— Luxembourg’s Fortezza RE, belonging to U.S. alternative investment company Fortress Investment Group LLC FIG.N, and Italian global investment firm Pioneer Investment Management, belonging to Unicredit (CRDI.MI), to acquire joint control of Italian asset management company Torre SGR SpA (notified Feb. 13/deadline March 20/simplified)


— Electrabel International Holdings, a wholly owned indirect subsidiary of French gas and electricity company GDF Suez SA GSZ.PA, and Greek real estate and energy company GEK SA (HRMr.AT) to acquire joint control over Heron Thermoelectric SA and Heron II Viotia Thermoelectric Station SA, two companies incorporated under Greek law and currently fully owned by the GEK Group (notified Feb. 17/deadline March 24/simplified)


— Dutch private equity investment firm Gilde Buy Out Fund III to acquire Dutch poultry meat company Plukon Royale BV (notified Feb. 18/deadline March 25/simplified)


— Computer monitor and display maker TPV Technology Ltd (0903.HK) of Bermuda, to acquire Dutch counterpart Monitors & Displays Holding BV (Philips Holdco), currently controlled by Dutch company Koninklijke Philips Electronics N.V. (PHG.AS) (notified Feb. 20/deadline March 27)



— German airline Lufthansa AG (LHAG.DE) to acquire Belgian air transport company SN Airholding SA/NV, which controls Brussels Airlines (notified Nov. 26/deadline Jan. 12/extended on Jan. 6/new deadline Jan. 26/in-depth probe opened Jan. 27/deadline June 10)


The European Commission has 25 working days after a deal is filed for a first-stage review. It may extend that 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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