EU regulators set new Jan. 20 decision deadline for Hyundai, Daewoo tie-up

HD Hyundai

23/11/2021 11:00

BRUSSELS, Nov 23 (Reuters) - EU antitrust regulators have
resumed their investigation into Hyundai Heavy Industries
Holdings Co Ltd's  267250.KS  bid for rival Daewoo Shipbuilding
 042660.KS  after a temporary halt of more than a year, setting
a Jan. 20 deadline for their decision on the deal.
    The European Commission, which paused its probe in July last
year while waiting for the companies to provide requested data,
had previously expressed concerns that the deal could inflate
prices and reduce competition in cargo shipbuilding.
    The EU competition enforcer resumed its probe on Nov. 18,
according to a filing on its website. 
    Hyundai, one of the world's largest shipyard, had made an
informal offer of concessions last year in a bid to address the
regulatory concerns, people familiar with the matter had told
Reuters.  urn:newsml:reuters.com:*:nL5N2GK3H1
    The deal also requires regulatory approval in South Korea
and Japan.

 (Reporting by Foo Yun Chee, Editing by Louise Heavens)
 ((foo.yunchee@thomsonreuters.com; +32 2 287 6844; Reuters
Messaging: foo.yunchee.thomsonreuters.com@reuters.net))