The European Commission has vetoed Hyundai Heavy Industries' (HHI's) proposed acquisition of rival South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME).

The decision blocks a deal – originally proposed in early 2019 – that would have created one of Asia's biggest naval shipbuilders with estimated defence revenues of more than USD2 billion a year.

The European Commission said on 13 January that its decision was based on fears that the takeover would create a monopoly in the liquefied natural gas (LNG) carrier market.

The European Commission has vetoed Hyundai Heavy Industries' (HHI's) proposed acquisition of rival South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME).

The decision blocks a deal – originally proposed in early 2019 – that would have created one of Asia's biggest naval shipbuilders with estimated defence revenues of more than USD2 billion a year.

The European Commission said on 13 January that its decision was based on fears that the takeover would create a monopoly in the liquefied natural gas (LNG) carrier market.

The European Commission has vetoed Hyundai Heavy Industries' (HHI's) proposed acquisition of rival South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME).

The decision blocks a deal – originally proposed in early 2019 – that would have created one of Asia's biggest naval shipbuilders with estimated defence revenues of more than USD2 billion a year.

The European Commission said on 13 January that its decision was based on fears that the takeover would create a monopoly in the liquefied natural gas (LNG) carrier market.

The European Commission has vetoed Hyundai Heavy Industries' (HHI's) proposed acquisition of rival South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME).

The decision blocks a deal – originally proposed in early 2019 – that would have created one of Asia's biggest naval shipbuilders with estimated defence revenues of more than USD2 billion a year.

The European Commission said on 13 January that its decision was based on fears that the takeover would create a monopoly in the liquefied natural gas (LNG) carrier market.

The European Commission has vetoed Hyundai Heavy Industries' (HHI's) proposed acquisition of rival South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME).

The decision blocks a deal – originally proposed in early 2019 – that would have created one of Asia's biggest naval shipbuilders with estimated defence revenues of more than USD2 billion a year.

The European Commission said on 13 January that its decision was based on fears that the takeover would create a monopoly in the liquefied natural gas (LNG) carrier market.

The European Commission has vetoed Hyundai Heavy Industries' (HHI's) proposed acquisition of rival South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME).

The decision blocks a deal – originally proposed in early 2019 – that would have created one of Asia's biggest naval shipbuilders with estimated defence revenues of more than USD2 billion a year.

The European Commission said on 13 January that its decision was based on fears that the takeover would create a monopoly in the liquefied natural gas (LNG) carrier market.