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Singapore rejects Wilhelmsen's billion-dollar acquisition of supplier

Wilhelmsen's acquisition of Drew Marine has been rejected by competitions authorities in Singapore. The US has also contested the acquisition.

Photo: Presse

In a preliminary ruling, Singapore's competitions authority has rejected that Norwegian Wilhelmsen Marine Services may take over maritime company Drew Marine, the company explains in an announcement to the Oslo Stock Exchange.

The rejection follows a similar ruling in the US in February of this year, where the US Federal Trade Commission announced it would lodge a complaint against the planned acquisition as it could hurt competition in the global market for maritime water-treatment chemicals and services.

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