Page 69 - Daewoo News Today

EU vetoes S. Korean shipbuilding merger between Hyundai and Daewoo

(Bloomberg) -- Hyundai Heavy Industries Co.’s bid for Daewoo Shipbuilding & Marine Engineering Co. was vetoed by the European Union over fears it would create an overly powerful producer of liquefied natural gas carriers.

The European Union on Thursday rejected the merger between South Korean shipbuilders Hyundai and Daewoo, saying a union between two of the world’s biggest players in the industry would have given the combined company a global stranglehold on the production of liquified natural ...

The European Union on Thursday rejected the merger between South Korean shipbuilders Hyundai and Daewoo, saying a union between two of the worlds biggest players in the industry would have given the combined company a global stranglehold on the production of liquified natural gas carriers.

BRUSSELS (AP) — The European Union on Thursday rejected the merger between South Korean shipbuilders Hyundai and Daewoo, saying a union between two of the world’s biggest players in the

BRUSSELS (AP) -- The European Union on Thursday rejected the merger between South Korean shipbuilders Hyundai and Daewoo, saying a union between two of

The European Commission confirmed its opposition to the proposed acquisition of Daewoo Shipbuilding...

The European Commission had previously expressed concerns that the deal could inflate prices and reduce competition in cargo shipbuilding.

The EU blocked the mega-merger of the two shipbuilding giants. Chief among concerns of the EU is that any such merger could restrict the supply of large liquified natural gas tankers.

With the European Commission less than two weeks away from its scheduled deadline to announce a deci...