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26 September 2020 The on-line newspaper devoted to the world of transports 00:18 GMT+2

August 26, 2020

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Singapore antitrust authorities clear merger between groups South Korean naval engineers KSOE and DSME

The outcome of the evaluation of the operation is that it is not will lead to a substantial decrease in competition Singapore

The Competition and Consumer Commission of Singapore (CCCS), which at the end of last year after making a first assessment of the effects of the merger South Korean naval mechanics Korea Shipbuilding & Offshore Engineering Co. (KSOE), HHI Group holding company, and Daewoo Shipbuilding & Marine Engineering Co. (DSME) had expressed concern about the impact of the merger on the market ( 2 December 2019), announced yesterday the green light to the operation explaining that she was unable to conclude that the proposed merger will not result in a substantial reduction competition in violation of section 54 of the prohibits mergers that conduct or may leading to a substantial decrease in competition within any market in Singapore.

CCCS recalled that, as part of the assessment of the concentration, two public consultations were carried out and antitrust authority contacted 157 stakeholders, including customers and competitors of the two South Korean companies. CCCS specified that, after evaluating all the information assessed that the proposed transaction, if implemented, won't lead to a substantial decrease in competition Singapore.

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