EU Again Halts Probe into Korean Shipbuilding Tie-up

Maritime Activity Reports, Inc.

July 14, 2020

© Angelika Bentin / Adobe Stock

© Angelika Bentin / Adobe Stock

EU antitrust regulators have again halted their investigation into world No. 1 shipbuilding group Hyundai Heavy Industries' $1.8 billion merger with Daewoo Shipbuilding & Marine Engineering, a European Commission filing showed.

This is the third time the EU competition enforcer has halted the probe, having done so previously while waiting for details and due to delays related to the coronavirus crisis.

The Commission warned in December that the deal to create a company with a 21% market share could push up prices, saying that European shipping companies, among the two shipbuilders' biggest customers, may be affected.

(Reporting by Foo Yun Chee; editing by Jason Neely)

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