EU mergers and takeovers

By Editor

Jan 24, 2013 11:48 AM EST

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. 

NEW LISTINGS

- Private equity firm Triton to acquire Finnish grocery chain Suomen Lahikauppa from IK Investment Partners (notified Jan. 21/deadline Feb. 25)

EXTENSIONS AND OTHER CHANGES

- Ryanair to acquire Aer Lingus (notified July 24/deadline extended for the fourth time to March 6 from Feb. 27 after Ryanair offered more commitments)

FIRST-STAGE REVIEWS BY DEADLINE

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)

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)

- German private equity group Droege International to take control of German technology company ALSO-Actebis (notified Dec. 21/deadline Feb. 5)

FEB 6

- Private equity firm Advent International to acquire U.S. specialty chemicals maker Cytec's coating resin business (notified Dec. 21/deadline Feb. 6)

- Japanese auto parts maker U-Shin to buy French car parts equipment maker Valeo's car lock unit (notified Dec. 21/deadline Feb. 6)-

- 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)

FEB 7

- Japanese conglomerate Mitsui & Co Ltd and Russian steel producer Severstal to acquire joint control of Russian steel product maker Severstal-SSC

-Vsevolozhsk, which is now soley controlled by Severstal (notified Jan. 3/deadline Feb. 7/simplified)

- U.S. clothing firm PVH to acquire clothing company Warnaco (notified Jan. 3/deadline Feb. 7)

- Japanese conglomerate Mitsui to acquire part of American car dealer Penske Automotive Group's Italian subsidiary PAG Italy S.r.l. (notified Jan. 3/deadline Feb. 7/simplified)

- French public financial group CDC to set up a joint venture with French computer firm Bull focused on cloud computing (notified Jan. 3/deadline Feb. 7/simplified)

- Japan's Mitsubishi Corporation and Mitsubishi Electric Corporation to acquire joint control of MELCO Elevator Vietnam Co. Ltd. (notified Jan. 3/deadline Feb. 7/simplified)

FEB 11

- French financial group PAI Partners to take control of French industrial supplier Industrial Parts Holding (notified Jan. 7/deadline Feb. 11)

FEB 18

- Japanese camera maker Canon to acquire Belgian document recognition company Iris (notified Jan. 14/deadline Feb. 18)

FEB 20

- Private equity firm Clayton Dubilier & Rice to acquire British consumer goods retailer B&M (notified Jan. 16/deadline Feb. 20/simplified)

FEB 22

- Belgian state-owned investment company SFPI to acquire a controlling stake in Franco-Belgian bank Dexia (notified Jan. 18/deadline Feb. 22)

- The Turkish subsidiary of German power utility to buy a 50 percent stake in Turkish power company Enerijsa, which will give it joint control with Turkey's Haci Omer Sabanci Holdings group (notified Jan. 18/deadline Feb. 22/simplified)

- Japanese engineering company IHI Corp to buy the remaining 49 percent of German car turbo charger maker IHI Charging Systems International it does not own from German car maker Daimler AG (notified Jan. 18/deadline Feb. 22/simplified)

- Private equity firm CVC Capital Partners to buy data information provider Cerved Holding (notified Jan. 18/deadline Feb. 22/simplified)

MAY 30

- U.S. communications company Syniverse Technologies to buy Luxembourg-based communications services company Mach (notified Nov. 16/deadline extended for the second time to May 30 from May 15 after the companies asked for more time)

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