EU Rejects Hyundai Heavy Group and Daewoo Shipbuilding Merger... Acquisition Fails (Update 2)
[Asia Economy Reporter Jang Sehee] The European Union (EU) Commission announced on the 13th (local time) that it will not approve the merger of Korea Shipbuilding & Offshore Engineering, the shipbuilding holding company of Hyundai Heavy Industries Group, and Daewoo Shipbuilding & Marine Engineering.
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The merger and acquisition (M&A) process, which had been ongoing for three years since the main contract was signed in 2019, has ultimately failed.
This content was produced with the assistance of AI translation services.
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