The FTC merger review of Hanwha-Daewoo Shipbuilding will be concluded on the 26th
This article is translated by AI company Flitto and Alhpa Biz neural machine translation technology
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stockmk2020@alphabiz.co.kr | 2023-04-19 19:16:39
[Alpha Biz=(Chicago) Reporter Kim Jisun] The Fair Trade Commission's review of the merger between Hanwha and Daewoo Shipbuilding & Marine Engineering will come out on the 26th.
According to the industry on the 19th, the Fair Trade Commission has decided to review the combination of Hanwha and Daewoo Shipbuilding & Marine Engineering and present it to the plenary session on the 26th.
It has been about four months since six Hanwha affiliates decided to invest 2 trillion won to acquire Daewoo Shipbuilding and reported a business combination to the FTC. Competitors from seven foreign countries earlier approved the merger of the two companies.
The Fair Trade Commission has focused on this part, believing that Hanwha's merger with Daewoo Shipbuilding could limit competition in the local warship market.
The results of the review were reportedly set with conditional approval. The condition is that the FTC checks whether Hanwha does not discriminate against technical information or prices when supplying warship parts to competing shipbuilders.
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