The European Commission did not allow the acquisition of Daewoo Shipbuilding & Marine Engineering (DSME) by Hyundai Heavy Industries Holdings (HHIE). The planned merger between the two South Korean shipbuilders was rejected by the Commission on the grounds that it would create a dominant position and reduce competition in the production of liquefied gas (LNG) carriers (LLNGC).
The two South Korean companies mentioned here are the global leaders in the market of major LNG carriers. It has been stated by the Commission that in case of a possible merger, the combined market share of the parties will be at least 60%.
(European Commission – 13.01.2022)
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