Hyundai Heavy Industries stated it was working with Singaporean regulators to alleviate concerns of its US$2 billion merger with rival shipbuilder Daewoo crimping competition in the Southeast Asian maritime hub.
Plans to combine the world’s two biggest shipbuilders announced in January require regulatory approval in South Korea, Singapore, China, Japan, Kazakhstan, and the European Union, a Hyundai spokesman told Reuters. So far, only Kazakhstan has approved the deal, he said.
“We believe Singaporean authorities are taking a cautious approach to make a decision about the deal between the two big market players,” the spokesman said.
“We will do our best to complete this well,” he said, referring to Singapore’s review. He did not give details on how the firm is addressing Singapore’s concerns.
Full Content: Hellenic Hipping News
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Turkey Fines Meta $10.4 Million for Abusing Market Dominance
May 6, 2024 by
CPI
Canadian Watchdog Launches Inquiry into Lululemon’s Greenwashing Practices
May 6, 2024 by
CPI
Massachusetts Supreme Court Deliberates Ballot Redefining Gig Worker Status
May 6, 2024 by
CPI
European Commission Approves Nippon Steel’s $14.9 Billion Buyout of U.S. Steel
May 6, 2024 by
CPI
Banco Sabadell Rejects Rival BBVA Merger Proposal
May 6, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI