BRUSSELS, April 2 (Reuters) – EU antitrust regulators have halted their investigation into world No. 1 shipbuilding group Hyundai Heavy Industries’ $1.8 billion merger with Daewoo while waiting for the companies to provide information.
The European Commission said it stopped 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 competition enforcer said in an emailed statement.
In some cases, virus-hit companies have delayed responding to requests for information, a factor now taken into account by the EU watchdog.
The Commission warned in December that the deal to create a company with a 21% market share could result in higher prices.
Hyundai and Daewoo make large container ships and carriers of oil, liquefied natural gas and liquefied petroleum gas, with European shipping companies among their biggest customers. (Reporting by Foo Yun Chee Editing by Keith Weir)
(c) Copyright Thomson Reuters 2019.
Sign up for gCaptain’s newsletter and never miss an update
Essential maritime and offshore news, insights, and updates delivered daily straight to your inbox
Deal adds four modern crude tankers as International Seaways reports sharply higher spot earnings entering the fourth quarter. International Seaways has agreed to acquire Oslo-listed Bruton Limited in a deal...
(Bloomberg) — MSC Mediterranean Shipping Co. is in talks to acquire the roughly 80% stake in German cruise-ship builder Meyer Werft GmbH held by the federal government and the state...
Korean Register, HD Hyundai Heavy Industries, BAR Technologies and the Liberian Registry are teaming up to study the use of large wing sails on a new generation of LNG carriers.
Subscribe to gCaptain Daily and stay informed with the latest global maritime and offshore news
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
