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Singapore: Cruise line buyout edges closer to clearance

 |  November 22, 2013

According to a press release, the Competition Commission of Singapore has completed the first phase in its investigation into the proposed buyout of Singapore Cruise Centre by its subsidiaries.

The deal, first announced last September, involves the acquisition of the Cruise company by its subsidiaries SATS Airport Services and SATS-Creuers Cruise Services. Singapore Cruise Centre is currently owned by Hazeltrees Holdings Private Limited.

In a statement from the CCS, regulators said they could not conclude that the deal would raise competition concerns. The regulator will now need more information by the parties involves to complete its review.

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