EU mergers and takeovers (April 29)

Reuters

BRUSSELS, April 29 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Private equity funds Bain Capital and Anchorage Capital to jointly acquire bathroom products maker Ideal Standard, which is now solely controlled by Bain Capital (approved April 29)

-- British insurer Rothesay Life to buy Metlife Assurance (approved April 29)

-- Japan's Kuraray to buy U.S. chemical company DuPont's Glass Laminating Solutions/Vinyls business subject to conditions. (approved April 29)

NEW LISTINGS

None.

EXTENSIONS AND OTHER CHANGES

None.

FIRST-STAGE REVIEWS BY DEADLINE

MAY 5

-- Swiss-based chemicals company Ineos to buy South African petrochemicals group Sasol Ltd's German solvent business (notified March 25/deadline May 5)

MAY 8

-- U.S. cable company Liberty Global to acquire Dutch peer Ziggo (notified March 14/deadline extended to May 8 from April 23 after the Dutch competition authority asked to review the case)

-- Chinese PC maker Lenovo to International Business Machine Corp's low-end server business (notified March 28/deadline May 8/simplified)

MAY 14

-- French water and waste group Veolia Environnement to acquire control of energy services company Dalkia International which is now jointly controlled by Veolia and French utility group EDF (notified April 2/deadline May 14/simplified)

MAY 15

-- Swedish farmers group Lantmannen and Finnish timber and bioenergy company Vapo to combine their Swedish and Latvian wood pellets businesses (notified April 3/deadline May 15)

MAY 16

-- French insurer Axa and Canadian pension fund Public Sector Pension Investment Board to jointly acquire real estate assets in Milan, Italy (notified April 4/deadline May 16/simplified)

-- U.S. auto parts maker Visteon Corp to acquire U.S. car parts maker Johnson Controls' car electronics business (notified April 4/deadline May 16)

-- Dutch farmers cooperative Agrifirm and German agricultural products trader Baywa AG to set up a joint venture (notified April 4/deadline May 16/simplified)

-- Swiss food company Nestle to acquire sole control of dermatology company Galderma, which is now jointly controlled by Nestle and French cosmetics company L'oreal S.A. (notified April 4/deadline May 16/simplified)

-- Switzerland-based INEOS and Belgian chemicals company Solvay to form a joint venture (notified Sept. 16/deadline extended to May 16 after additional concessions offered)

MAY 23

-- Swiss agricultural trader Ecom Agroindustrial to acquire Armajaro Holdings' commodity trading arm (notified April 11/deadline May 23)

MAY 27

-- Affiliates of private equity firms KKR and H.I.G. Capital to acquire Estro Groep B.V., a Dutch provider of child day care services (notified April 15/deadline May 27/simplified)

MAY 28

-- Canadian private equity investment firm Onex Corp to sell The Warranty Group, a provider of extended warranty contracts, to an affiliate of TPG Capital Management LP for an enterprise value of about $1.5 billion (notified April 16/deadline May 28/simplified)

-- British-based equity capital group Charterhouse Capital Limited Group to buy a majority stake in Italian cheese firm Nuova Castelli S.p.A. (notified April 16/deadline May 28)

-- U.S. firm Federal-Mogul Corp to buy part of the friction materials business, including the European friction materials business, of Honeywell International Inc (notified April 16/deadline May 28)

JUNE 3

-- Private French agro-industrial group Soufflet to take sole control of French bakery group Neuhauser (notified April 23/deadline June 3/simplified)

JUNE 23

-- Spanish telecoms provider Telefonica to buy Dutch peer KPN's German unit (notified Oct. 31/deadline extended for the second time to June 23 from May 28 after Telefonica offered concessions)

JULY 8

-- Swiss cement maker Holcim to buy some of Mexican peer Cemex's assets in Europe . (notified Sept. 3/deadline extended for the third time to July 8 from May 2)

AUG 29

-- U.S. chemical maker Huntsman Corp to acquire U.S. peer Rockwood Holdings's titanium dioxide pigments business (notified Jan. 29/deadline Aug. 20/commitments submitted on March 28)

SEPT 5

-- Mexican cement producer Cemex to acquire Swiss peer Holcim's Spanish cement business (notified Feb. 28/deadline extended to April 23 from April 4 after Cemex submitted concessions/in-depth investigation announced April 23/new deadline Sept. 5)

SUSPENSION OF DEADLINE

-- Hutchison 3G UK to acquire Telefonica Ireland, a unit of Spanish telecoms provider Telefonica (notified Oct. 1/deadline suspended while the Commission waits for details of Hutchison's revised concessions)

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.

(Editing by Foo Yun Chee)

Rates

View Comments (0)