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EU Antitrust Regulators Halt Hyundai, Daewoo Deal Probe

marinesalvage by marinesalvage
September 30, 2021
in News
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daewoo shipbuilding
daewoo shipbuilding

EU Antitrust Regulators Halt Hyundai, Daewoo Deal Probe

Reuters

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April 2, 2020

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File Photo: Daewoo Shipbuilding & & Marine Engineering shipyard. Credit: Panwasin seemala/Shutterstock com

BRUSSELS, April 2 (Reuters)– EU antitrust regulatory authorities have actually stopped their examination right into globeNo 1 shipbuilding team Hyundai Heavy Industries’ $1.8 billion merging with Daewoo while waiting on the business to offer info.

The European Commission claimed it quit the clock on Wednesday.

“Once the missing information is supplied by the parties, the clock is re-started and the deadline for the Commission’s decision is adjusted accordingly,” the EU competitors enforcer claimed in an emailed declaration.

In some instances, virus-hit business have actually postponed replying to ask for info, a variable currently taken into consideration by the EU guard dog.

The Commission cautioned in December that the bargain to develop a firm with a 21% market share can lead to greater costs.

Hyundai and also Daewoo make big container ships and also providers of oil, dissolved gas and also dissolved oil gas, with European delivery business amongst their greatest consumers. (Reporting by Foo Yun Chee Editing by Keith Weir)

( c) Copyright Thomson Reuters 2019.

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Tags: antitrustDSMEHyundai Heavy Industriesmergers and acquisitions
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