Merger of HHI-DSME receives Singapore approval
The Competition and Consumer Commission of Singapore was concerned that the union between Hyundai Heavy Industries and its proposed merger partner Daewoo Shipbuilding & Marine Engineering would remove competition between the two biggest builders. But it has now approved the merger stating that it will not infringe its competition act
The competition authority said there were sufficient viable alternative suppliers to both companies, particularly for VLCCs and liquefied natural carriers, but there are still many hurdles for the union
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