EU mergers and takeovers (Dec 23)
Home page > News

EU mergers and takeovers (Dec 23)

www.reuters.com   | 23.12.2011.

BRUSSELS, Dec 23 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:
br />

APPROVALS AND WITHDRAWALS:

None

NEW LISTINGS:

None

EXTENSIONS AND OTHER CHANGES:

-- German sugar company Suedzucker to acquire a 25 percent stake in British commodities trading company ED&F Man (notified Sept. 19/deadline extended to March 30 from March 23; Commission carrying out in-depth investigation)

FIRST-STAGE REVIEWS BY DEADLINE

JAN 9

-- Russian steelmaker Evraz and Russian state-owned diamond miner Alrosa to set up a mining joint venture in Siberia (notified Nov. 24/deadline Jan. 9/simplified)

JAN 10

-- Car2Go GmbH, a subsidiary of German car maker Daimler , to set up a car rental joint venture with car rental company Europcar (notified Nov. 25/deadline Jan. 10/simplified)

JAN 11

-- Rewe International and Salzburg AG to set up an electric car-sharing joint venture (notified Nov. 28/deadline Jan. 11/simplified)

JAN 13

-- Dutch private equity firm NPM Capital, which is a subsidiary of Dutch holding company SHV Holdings N.V., and British private equity firm Lion Capital LLP to acquire joint control of frozen snacks producer Buitenfood and Ad van Geloven Holding (notified Nov. 16/deadline extended to Jan. 13 from Dec. 21 after the relevant member states asked for the case to be referred to them)

JAN 18

-- Japanese holding company Itochu, Belgian chemicals company Tessenderlo Chemie and Germany's Siemens Project Ventures GmbH to acquire joint control of Belgian energy company T-Power (notified Dec. 5/deadline Jan. 18/simplified)

FEB 2

-- Japan's Sony to acquire sole control of mobile phone company Sony Ericsson which is jointly owned by Sony and Ericsson (notified Dec. 19/deadline Feb. 2/simplified)

FEB 9

-- Deutsche Boerse and NYSE Euronext to merge (notified June 29/deadline extended to Feb. 9 from Jan. 23, the second extension, after the operators submitted additional concessions)

MARCH 30

-- German sugar company Suedzucker to acquire a 25 percent stake in British commodities trading company ED&F Man (notified Sept. 19/deadline extended to March 30 from March 23; Commission carrying out in-depth investigation)

APRIL 2

-- U.S. healthcare company Johnson & Johnson to acquire Swiss medical devices maker Synthes Inc (notified Sept. 27/deadline extended to April 2 from March 19)

DEADLINE SUSPENDED TILL FURTHER NOTICE

-- U.S. Internet search engine Google to acquire U.S. handset maker Motorola Mobility (notified Nov. 25/Jan. 10 deadline suspended after the EU Commission asked for more information)

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.



Comments (0) Add Your comment Add news < Previous news Next news >








  Add your news >>>