MacGregor receives clearance from the South Korean competition regulator for the acquisition of the marine and offshore businesses of TTS
CARGOTEC CORPORATION, PRESS RELEASE, 27 DECEMBER 2018 AT 5.00 PM EET
MacGregor, part of Cargotec, has today received a clearance decision from the South Korean Fair Trade Commission on the company's acquisition of the marine and offshore businesses of TTS Group ASA, which was announced on 8 February, 2018.
MacGregor announced the approval from the German regulator on 6 November 2018 but is still waiting for the approval from the competition authority in China. As communicated on 20 December, 2018, MacGregor expects to close the transaction in Q1 2019.
MacGregor is a leader in intelligent maritime cargo and load handling with a strong portfolio of MacGregor, Hatlapa, Porsgrunn, Pusnes, Rapp Marine and Triplex products, services and solutions, all designed to perform with the sea.
Shipbuilders, shipowners and operators are able to optimise the lifetime profitability, safety, reliability and environmental sustainability of their operations by working in close cooperation with MacGregor.www.macgregor.com
MacGregor is part of Cargotec. Cargotec's (Nasdaq Helsinki: CGCBV) sales in 2017 totalled approximately EUR 3.2 billion and it employs over 11,000 people worldwide.www.cargotec.com