14 January 2022
by Jon Grevatt
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.
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The European Commission has vetoed Hyundai Heavy Industries' (HHI's) proposed acquisition of rival S...
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