The European Commission decided on Thursday 13 January to prohibit the acquisition of Daewoo Shipbuilding & Marine Engineering CO., Ltd (DSME) by Hyundai Heavy Industries Holdings (HHIH).
The merger between the two South Korean shipbuilders would have created a dominant position by the new merged company and reduced competition in the global market for the construction of large liquefied natural gas (LNG) carriers. The parties did not formally propose any remedies to address the...