BRUSSELS, April 3 (Reuters) - The following are mergers
under review by the European Commission, and a brief guide to
the EU merger process:
APPROVALS AND WITHDRAWALS:
-- Magna Presstec AG, a subsidiary of Austrian automotive
supplier Magna International INC <MGa.TO>, to acquire Czech
automotive supplier Cadence Innovation (notified March
27/deadline May 7)
-- United Arab Emirates investment firm International
Petroleum Investment Co to acquire Canadian chemical products
company Nova Chemicals Corp <NCX.TO> (notified March 31/deadline
May 11/simplified)
-- Italian shipbuilder Fincantieri and Italian power and
automation technologies provider ABB SpA to form a marine
automation systems joint venture (notified March 31/deadline May
11)
NEW LISTINGS:
None
EXTENSIONS AND OTHER CHANGES:
None
FIRST-STAGE REVIEWS BY DEADLINE:
APRIL 17
-- Italian electricity supplier Enel <ENEI.MI> plans to
acquire sole control of Spanish peer Endesa <ELE.MC> (notified
March 10/deadline April 17/simplified)
APRIL 20
-- Spanish insurance group Mapfre <MAP.MC> and Portuguese
car retailing group Salvador Caetano acquire joint control of
Portuguese car retailer Choice Car, Portuguese fleet management
company Finlog, Portuguese car rental company Guerin and
Portuguese car accident services management firm Luso, currently
owned by Salvador Caetano (notified March 11/deadline April 20)
APRIL 21
-- Brazilian diversified conglomerate Votorantim Group
<VCPA4.SA><VCP.N> to take sole control of Brazilian paper and
pulp company Aracruz Celulose SA <ARCZ6.SA><ARA.N>, currently
controlled jointly by Votorantim, Arapar and Arainvest (notified
March 12/deadline April 21)
-- Swedish postal services firm Posten, controlled by the
Kingdom of Sweden, enters into a full merger with Danish peer
Post Danmark, controlled by the Kingdom of Denmark, by way of a
share swap (notified Feb. 26/deadline April 2/extended on March
27/new deadline April 21)
APRIL 23
-- Austrian mortgage lender RBSK Group, through its
subsidiary Raiffeisen Bausparkasse GmbH []; German
banking and insurance firm DZ Bank <DGBGg.F>, through its
Bausparkasse Schwaebisch Hall AG arm; and Raiffeisen Bank SA of
Romania, a subsidiary of Austrian investment and commercial bank
RZB <RIBH.VI>, to take joint control of Romanian mortgage lender
Raiffeisen Banca pentru Locuinte SA (notified March 16/deadline
April 23/simplified)
APRIL 30
-- U.S. automaker General Motors <GM.N> to acquire the
steering business of Delphi Corp, a maker of steering and other
automotive components (notified March 23/deadline April 30)
SECOND-STAGE REVIEWS BY DEADLINE
JUNE 10
-- 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)
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 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.
