Hyundai Heavy Files Suit in EU Court After Daewoo Takeover Veto

(Photo: SarahTz - CC BY 2.0)

(Photo: SarahTz – CC BY 2.0)

Hyundai Heavy Industries Holdings stated on Monday it had actually interested an EU court to eliminate the European Commission’s January choice to obstruct its requisition quote for competing shipbuilder Daewoo Shipbuilding & & Marine Engineering.

The fit, made to the European Union’s General Court, was submitted on March 23, a Hyundai representative stated.

Hyundai suggested that regulatory authorities in various other areas had actually approved the shipbuilding sector was a market managed by shipowners’ orders as well as choices, not market share, therefore the suggested requisition did not harm competitors, the representative stated.

(Reuters – Reporting by Joyce Lee; Editing by Edmund Blair)

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