Regulatory processes delay MacGregor-TTS deal

Illustration. Source: Pixabay

MacGregor, part of Cargotec, has experienced delays in its planned acquisition of marine and offshore businesses of TTS Group due to longer than expected regulatory processes in two countries. 

MacGregor announced on February 8, 2018, that it had entered into an agreement to acquire the marine and offshore businesses of TTS Group.

The acquisition is subject to regulatory approvals from competition authorities in China, Germany, and South Korea.

MacGregor announced the approval from the German regulator on November 6, 2018, but is still waiting for the approvals from the authorities in China and South Korea.

MacGregor earlier announced that it expects to receive all the needed approvals by the end of 2018 and to complete the transaction, according to the agreement, as soon as possible thereafter.

However, due to longer than expected regulatory processes in China and South Korea, the company currently expects to close the transaction in the first quarter of 2019.

Share this article

Follow Offshore Energy Today

Events>

<< Jan 2019 >>
MTWTFSS
31 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Fuel Cell Expo 2019

FC EXPO is world’s largest show for hydrogen & fuel cell…

read more >

LNG Bunkering Summit 2019

LNG Bunkering Summit will cover the obstacles facing both the shipping and port communities…

read more >

Egypt Petroleum Show

This event will feature 500+ regional & international exhibiting companies from over 35 countries…

read more >

IoT in Oil & Gas 2019

The IoT in Oil & Gas 2019 Conference will continue to focus on helping operators…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply