EU mergers and takeovers (Oct 3)

BRUSSELS Fri Oct 3, 2014 7:05pm BST

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Chiquita Brands International Inc
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10/03/2014

Facebook Inc
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Fyffes PLC
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10/03/2014
Oct 3 (Reuters) - The following are mergers under review by the European Commission and
a brief guide to the EU merger process:
APPROVALS AND WITHDRAWALS
-- U.S. fruit firm Chiquita Brands and Irish rival Fyffes to merge (approved Oct. 3)
-- U.S. social network Facebook to buy mobile messaging startup WhatsApp (approved Oct.
3)
-- U.S. drugmaker Eli Lilly to acquire Swiss peer Novartis's animal health business (approved
Oct. 3)
NEW LISTINGS
None
EXTENSIONS AND OTHER CHANGES
-- U.S. orthopaedic products maker Zimmer Holdings to acquire rival Biomet Inc (notified
Aug. 29/deadline extended to Feb. 16 from Oct. 3 after the Commission opens an in-depth
probe)
FIRST-STAGE REVIEWS BY DEADLINE
OCT 8
-- Private equity firm the Blackstone Group to acquire life insurer Lombard (notified Sept.
3/deadline Oct. 8/simplified)
OCT 9
-- U.S. film and TV company 21st Century Fox and private investment firm Apollo
Management to acquire joint control of a joint venture (notified Sept. 4/deadline Oct. 9)
-- Dubai's Dnata, part of the Emirates Group, to buy Britain's Stella Travel Services UK Ltd,
which is jointly owned by private equity firm CVC Capital Partners and Swiss bank UBS AG
(notified Sept. 4/Oct. 9/simplified)
OCT 13
-- U.S. household appliances maker Whirlpool to buy a 60 percent stake in Italian peer
Indesit (notified Sept. 8/deadline Oct. 13)
OCT 14
-- Petrochemicals group Ineos to buy BASF's 50 percent stake in German plastics maker
Styrolution (notified Sept. 9/deadline Oct. 14/simplified)
OCT 15
-- Private equity firm Advent International to buy aluminium producer Corialis (notified Sept.
10/deadline Oct. 15/simplified)
OCT 16
-- U.S. drugmaker AbbVie to acquire Irish peer Shire Plc (notified Sept. 11/deadline Oct. 16)
-- U.S. aluminium group Alcoa to buy parts aerospace company Firth Rixson from private
equity firm Oak Hill Capital Partners (notified Sept. 11/deadline Oct. 16)
OCT 17
-- Private equity firm EQT Infrastructure and Spanish building manager Onmomutua to
acquire joint control of Spanish car operator Acvil, which is now solely controlled by EQT
(notified Sept. 12/deadline Oct. 17/simplified)
OCT 20
-- Japan's Mitsubishi Heavy Industries and German engineering group Siemens to set up a
joint venture (notified Sept. 15/deadline Oct. 20)
OCT 23
-- OFI InfraVia, GDF Suez and PensionDanmark Holding to acquire joint control of gas
pipeline operator Noordgastransport B.V. (notified Sept. 18/deadline Oct. 23/simplified)
-- French insurer Axa and British property developer Hammerson plc to acquire joint control
of a British property portfolio which is now jointly owned by Hammerson and Land
Securities Group plc (notified Sept. 18/deadline Oct. 23/simplified)
OCT 30
-- Dolby Laboratories to acquire digital cinema equipment maker Doremi Highlands (notified
Sept. 25/deadline Oct. 30)
OCT 31
-- Mobile operator Vodafone to form joint venture with Ireland's Electricity Supply Board to
build fibre broadband network across country (notified Sept. 26/deadline Oct. 31)
-- Private equity fund Clayton, Dubilier & Rice to acquire helicopter operator CHC Group
(notified Sept. 26/deadline Oct. 31/simplified)
NOV 3
-- Abu Dhabi-based Etihad Airways to acquire 49 percent stake in Italian airline Alitalia
(notified Sept. 29/deadline Nov. 3)
-- U.S. cable company Liberty Global to acquire Dutch peer Ziggo (notified March
14/deadline extended to Nov. 3 after Liberty Global provided further details of concessions)
NOV 4
-- PCCR USA, which is part of the Polynt group to acquire all of French oil company Total'S
CCP composites business (notified Oct. 1/deadline Nov. 4)
-- French construction company Vinci to acquire technology company Imtech ICT Group
from Dutch engineer Royal Imtech Group (notified Oct. 1/deadline Nov. 4/simplified)
NOV 5
-- SOCAR, Azerbaijan's state energy company, to buy stakes in Greek natural gas grid
operator DESFA from Greek natural gas utility DEPA (notified Oct. 1/deadline Nov. 5)
-- Germany company Robert Bosch to acquire the remaining 50 percent of German car parts
maker ZF Friedrichshafen's steering systems business to (notified Oct. 1/deadline Nov.
5/simplified)
FEB 3
-- Belgian telecoms group Telenet to acquire 50 percent stake in
Belgian broadcastingcompany De Vijver Media (notified Aug. 18/deadline extended to Feb.
5 from Sept. 22 after the European Commission opened an in-depth probe)
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)




NEW DELHI: Mergers and acquisitions (M&As) in India witnessed a significant jump in the
first six months this year to $ 17.1 billion, up over 47 per cent year-on-year, says a report.

"The value of India targeted M&A activity was valued at $ 17.1 billion in H1 2014, a 47.4
per cent increase from H1 2013 when it stood at $ 11.6 billion," global deal tracking firm
Mergermarket has said in the latest report.

The April-June quarter of this year saw deals worth $ 13.4 billion accounting for 78 per cent
of the total first half deal value. In the January-March quarter there were M&A transactions
worth $ 3.7 billion only. The second quarter was the most active quarter by value since the
Q2 of 2012. Moreover, there was also an influx of large cap deals compared to the first
quarter of this year.

Two of the largest deals come from UK-based bidders (Diageo and Vodafone Group) which
resulted in an impressive Q2 for inbound activity valued at $ 6.3 billion. Pharma, medical and
biotech were the most active sectors during the first half of 2014 as they cornered 27 per cent
of market share from deals worth $ 4.6 billion. Interestingly, though the industrials and
chemicals sector led the industry chart in terms of number of deals (27), the deal value
totalled to just $ 0.6 billion, down 61.4 per cent over the corresponding period a year ago.

The $ 3.97 billion Sun Pharma-Ranbaxy deal was the top item in the first six months this
year, follow ed followed by Diageo acquiring 26 per cent stake in United SpiritsBSE -2.27 %
for $ 3.14 billion and Vodafone Group's 10.97 per cent stake acquisition in Vodafone India
from Piramal Enterprises for $ 1.47 billion.


Other major deals were Adani Ports and Special Economic Zone's (APSEZ) acquisition of
Dhamra Port in Odisha from Tata SteelBSE -2.31 % and L&T Infrastructure Development
Projects (L&T IDPL) and Reliance Industries-Network 18 Media deal. The financial advisor
league table was topped by Citi which advised five deals worth $ 8.2 billion, while EY
clinched the first position in terms of number of deals (13 transactions totalling $ 5.2 billion),
the report added.

Read more at:
http://economictimes.indiatimes.com/articleshow/38305500.cms?utm_source=contentofintere
st&utm_medium=text&utm_campaign=cppst