(ANSA) – BRUSSELS, Jan. 13 – The European Commission has banned the merger of South Korea’s two most important shipbuilders, Daewoo Shipbuilding and Marine Engineering and Hyundai Heavy Industries Holdings. The deal, valued at about $2 billion, would have created a dominant position on the part of the resulting new company and reduced competition in the global market for building large liquefied natural gas (LNG) vessels. The parties have not formally provided remedies to address Brussels’ concerns. (Dealing).
Reproduction is reserved © Copyright ANSA