Brussels, 16/12/2013 (Agence Europe) - On Monday 16 December, the European Commission ruled that a number of planned mergers comply with the EU competition rules. It examined them using the simplified merger control process.
Wind power. The acquisition of joint control of a Spanish newly created joint venture (“JV”) by Gestamp Eólica S.L. and Banco Santander S.A., both of Spain, which will be active in the operation of wind technology energy projects in Europe;
Gas. The acquisition of joint control by PensionDanmark Holding of Denmark and GDF SUEZ S.A. of France of Noordgastransport B.V. (“NGT”) of the Netherlands, which runs undersea gas piplines and gas treatment plants in the Netherlands. PensionDanmark is a Danish not-for-profit, labour-market-related, life-insurance limited company. Suez is an energy company.
Engineering. The creation of Rheinmetall International Engineering, a joint venture between Rheinmetall Germany and Ferrostaal Industrieanlagen, both of Germany. Rheinmetall is active in the manufacturing of automotive components and defence systems on a global level. Ferrostaal Industrieanlagen provides engineering, procurement and construction (“EPC”) services with a focus on oil and gas exploration, as well as industrial production lines on a global level. The joint venture will take over a significant part of the activities of Ferrostaal Industrieanlagen in EPC with plans to expand into further sectors.
Housing. The acquisition of joint control of the SZ Tower office building in Munich by AXA S.A. of France and Norges Bank of Norway. AXA is a global insurance group. SZ Tower is an office block of more than 30 stories.
Musical instruments. The acquisition of joint control of Fender Musical Instruments Corporation by the TPG Group and Servco Pacific Inc., all of the US. Fender designs, develops, manufactures and purchases musical instruments, accessories and related products for sale and distribution to wholesale and retail outlets throughout the world.
Oil and gas. The acquisition of joint control over OAO Yamal LNG of Russia by China National Oil & Gas Exploration and Development Corporation (CNODC) of China, Total E&P Yamal (Total EPY) of France and OJSC Novatek of Russia. Currently Yamal LNG is jointly controlled by Total EPY and Novatek. Through the proposed transaction CNODC will acquire a controlling stake from Novatek. Yamal LNG is active in the development and (future) exploration of hydrocarbon raw materials at the South Tambeyskoye gas and condensate field on the Yamal peninsula in Russia.
Talent scouts. The acquisition of Newincco 780 Limited, the holding company of a group trading as Alexander Mann Solutions by New Mountain Partners IV, L.P., a fund managed by New Mountain Capital, LLC New Mountain Capital is an investment fund of the United States. Alexander Mann is headquartered in the United Kingdom and provides talent management services.
Hotels. The acquisition of joint control of 13 hotels in Germany by Starwood Capital Group Global, L.P. and Brookfield Property Partners, L.P. (“BPY”). BPY is headquartered in Bermuda and is a property company that owns, operates and invests in real estate assets. Starwood is an investment firm from the United States investing in real estate, equity and debt. The hotels are in six cities in Germany (Berlin, Dresden, Leipzig, Erfurt, Potsdam and Chemnitz).
The Commission says the deals do not raise competition concerns because of their low market share or limited overlaps. (FG/transl.fl)