M&A

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

  • Cayman Island navigational-device company Garmin Ltd. has withdrawn its offer for digital maps company Tele Atlas NV, ending its battle with Dutch navigation systems company TomTom (WSJE, November 19, 2007, p. 1, 7) 
  • A consortium led by French telecommunications company France Télécom SA has stated that it has won an auction for a 51% stake in competitor Telkom Kenya Ltd. with a US$390m bid (WSJE, November 19, 2007, p. 4) 
  • Swedish bank Skandinaviska Enskilda Banken has agreed to acquire a 97.25% stake in Ukrainian rival Factorial Bank for US$123m (WSJE, November 19, 2007, p. 4) 
  • French-based multinational company Suez has stated that it bought 50.1% of French wind-power producer Cie. du Vent for €321m and that it plans to increase its stake to 56.8% (WSJE, November 19, 2007, p. 7) 
  • UK insurer Resolution PLC has accepted a US$10.22bn offer from UK insurer Pearl Group, Resolution’s largest shareholder (WSJE, November 19, 2007, p. 7) 
  • US maker of motion-control products Parker Hannifin Corp. has bought Norway-based manufacturer of power and production cables for subsea installations Scan Subsea ASA, for an undisclosed amount (WSJE, November 19, 2007, p. 7) 
  • The following concentrations have been notified to the European Commission:
    • Uberior/L&R/Versailles Holdco — Candidate case for simplified procedure (health and fitness clubs in the UK, Spain, Belgium, Ireland and the Netherlands) (OJ C 276, 17 November 2007, p. 9) 
    • STV Fund/Smith/@Balance — Candidate case for simplified procedure (provision of technology used to assist in drilling oil and gas wells) (OJ C 276, 17 November 2007, p. 10) 
    • Quebecor World/RSDB (provider of printing services) (OJ C 276, 17 November 2007, p. 11) 
  • The following concentrations have been cleared by the European Commission: 
    • Rozier/BHS (acute hospital services in the UK to both the public and private sectors) (OJ C 276, 17 November 2007, p. 3) 
    • Petronas/Selenia (automotive and industrial lubricants) (OJ C 276, 17 November 2007, p. 3)

State Aid

  • Authorisation for State aid pursuant to Articles 87 and 88 of the EC Treaty — Cases where the Commission raises no objections (OJ C 276, 17 November 2007, p. 1) 
    • Poland – Manufacturing industry

Other 

  • Directive 2007/63/EC of the European Parliament and of the Council of 13 November 2007 amending Council Directives 78/855/EEC and 82/891/EEC as regards the requirement of an independent expert’s report on the occasion of merger or division of public limited liability companies (OJ, L 300, 17 November 2007, p. 47) 
  • Swiss human resources company Adecco SA faces antitrust charges after an investigation by France’s competition authority brought allegations that the company has exchanged sensitive information with competitors in 2003 and 2004 (WSJE, November 19, 2007, p. 7) 
  • German-based private equity firm Baigo Capital is reportedly set to capitalize on predicted growth and restructuring in the medical sector to become the first private-equity firm in Europe to be specialized only in healthcare (FT, November 19, 2007, p. 18)