EXCLUSIVE – Hyundai Shipbuilding Division in talks with EU regulators to acquire Daewoo – sources

EXCLUSIVE – Hyundai Shipbuilding Division in talks with EU regulators to acquire Daewoo – sources

EXCLUSIVE - Hyundai Shipbuilding Division in talks with EU regulators to acquire Daewoo - sources

BRUSSELS (Reuters) – Global shipbuilding leader Hyundai Heavy Industries Holdings Co Ltd is in talks with EU antitrust regulators and is willing to make concessions to allay fears over a $ 1.8 billion bid to acquire rival shipbuilder Daewoo, sources familiar with the matter told Reuters.

The European Commission launched a full-scale investigation of the deal in December last year over concerns that the takeover could lead to overpricing and less competition in the cargo shipbuilding market.

The investigation was suspended on July 13, for the third time. Before that, it was suspended twice due to the coronavirus crisis and pending data from companies.

(Fu Yun Chi. Translated by Alexey Kuzmin. Editor Anna Kozlova)

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