M&A

The following has been reported in the newspapers referred to below:

  • On October 25, 2007, the UK’s largest brewer Scottish & Newcastle rejected the €9.7bn takeover bid of its Danish and Dutch rivals Carlsberg and Heineken (FT, October 26, 2007, p. 15; WSJE, October 26, 2007, p. 8) 
  • On October 25, 2007, UK-based private-equity firm 3i Group’s India infrastructure fund announced that it acquired a US$ 228m minority stake in Indian electricity developer Adani Power (FT, October 26, 2007, p. 16) 
  • On October 25, 2007, Norwegian energy company StatoilHydro acquired a 24% stake in Russian gas company Gazprom’s venture to develop the large Shtokman gas field. Gazprom also announced that German chemical company BASF is to acquire a 25% stake in its subsidiary, Severneftegazprom, the operator of the Yuzhno-Russkoye gas field, while Gazprom increases its stake in German distribution company Wingas, jointly owned with BASF, to 50% minus one share (FT, October 26, 2007, p. 18; WSJE, October 26, 2007, p. 3) 
  • Spanish gas distributor Gas Natural SDG SA announced that it bought assets in Mexico valued at about US$1.45bn from French Electricité de France SA and Japanese electric equipment company Mitsubishi Electric Corp. (WSJE, October 26, 2007, p. 4) 
  • UK carrier EasyJet has agreed to buy UK airline GB Airways Ltd. from Bland Group Ltd., a group which owns different companies in the transport leisure and tourism sector, for about US$212m (WSJE, October 26, 2007, p. 4) 
  • On October 25, 2007, Dutch electrical-equipment distributor Hagemayer NV rejected a €3bn offer from French peer Rexel SA, saying it undervalues the company (WSJE, October 26, 2007, p. 6) 
  • Italian energy company Enel has agreed to buy an additional 7.15% stake in Russian wholesale generator OAO OGK-5 for €304m raising its total holding to about 37.15% (WSJE, October 26, 2007, p. 8) 
  • The following concentration has been notified to the European Commission: 
    • BENTELER/SGLT/JV (development, production and distribution of components for the automotive industry using carbon fiber reinforced plastics and carbon fiber reinforced plastics hybrid structures) (OJ C 251, 26 October 2007, p. 110)
  • The following concentration has been cleared by the European Commission:
    • Siemens/Dade Behring (development, manufacture and sales of in vitro diagnostic systems for hospitals, medical laboratories and physicians' offices) (RAPID, October 26, 2007)
  • Commission Decision of 18 August 2006 declaring a concentration compatible with the common market and the functioning of the EEA Agreement (Sea-Invest/EMO-EKOM) (stevedoring services for coal and iron ore) (OJ L 282, 26 October 2007, p. 47)

State Aid

  • Council Regulation (EC) No 1247/2007 of 22 October 2007 amending Regulation (EC) No 1947/2005 as regards national aid granted by Finland for seeds and cereal seed (OJ L 282, 26 October 2007, p. 1) 
  • The European Commission has adopted a Notice on the implementation of decisions ordering Member States to recover unlawful and incompatible state aid. The Notice provides guidance to Member States on how to improve the execution of recovery decisions (RAPID, October 26, 2007)

Other

  • The European Commission has launched a public consultation on a package designed to allow for settlements of cartel cases where the parties not only acknowledge their involvement in the cartel and their liability for it but also agree to a faster and simplified procedure. The package consists of a draft Commission Notice and a draft Commission Regulation amending Regulation (EC) Nº 773/2004. Settlements aim to simplify the administrative proceedings and could reduce litigation in cartel cases, thereby freeing up the Commission to pursue more cases (RAPID, October 26, 2007) 
  • Commission Decision of 30 November 2005 relating to a proceeding under Article 81 of the Treaty establishing the European Community against Armando Álvarez SA, Bernay Film Plastique, Bischof + Klein France SAS, Bischof + Klein GmbH & Co. KG, Bonar Technical Fabrics NV, British Polythene Industries PLC, Cofira-Sac SA, Combipac BV, Fardem Packaging BV, FLSmidth & Co. A/S, FLS Plast A/S, Groupe Gascogne, JM Gesellschaft für industrielle Beteiligungen mbH & Co. KGaA, Kendrion NV, Koninklijke Verpakkingsindustrie Stempher CV, Low & Bonar PLC, Nordenia International AG, Nordfolien GmbH, Plásticos Españoles SA, RKW AG Rheinische Kunststoffwerke, Sachsa Verpackung GmbH, Stempher BV, Trioplast Industrier AB, Trioplast Wittenheim SA, UPM-Kymmene Oyj (Industrial bags) (OJ L 282, 26 October 2007, p. 41)