Media: South Korean yard prepared to make concessions for EU merger approval

Hyundai Heavy Industries is currently meeting with the EU competition authority to discuss possible concessions related to the merger with competitor Daewoo, reports Reuters. The focus is on LNG vessels.

Photo: Kim Hong-Ji/Reuters/Ritzau Scanpix

South Korean shipbuilding major Hyundai Heavy Industries is allegedly prepared to make concessions to ensure EU approval for its merger with competitor Daewoo Shipbuilding & Marine Engineering, DSME.

According to Reuters, the yard is currently in talks with EU antitrust regulators, who must approve the merger, as the combined company will have a 21 percent share of the global shipbuilding market.

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