China’s anti-trust authority has given the go-ahead for the merger between two large South Korean shipbuilders Hyundai Heavy Industries Holdings (HHI) and Daewoo Shipbuilding and Marine Engineering (DSME).
China’s State Administration for Market Regulation issued an unconditional approval for the merger. It is the third approval the yards have received after anti-trust agencies in Kazakhstan and Singapore gave the go-ahead for the takeover. The merger is still under review by the antitrust regulator of the European Union.
HHI entered into a deal to purchase a 55.72% stake in DSME last year. This merger would create one of the world’s largest and major shipbuilders.
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