Hyundai yard deal delay

摘要

SOUTH Korea's anti-competition watchdog, the Korea Fair Trade Commission (KFTC), has deferred until the third quarter its decision on whether to approve Hyundai Heavy Industries' proposed $1.78 billion takeover of compatriot Daewoo Shipbuilding & Marine Engineering. The KFTC, which is carrying out an in-depth investigation into the merger, had been due to complete its review in late December. However, following the recent move by the European Union to delay its decision until July, the South Korean anti-trust regulator now plans to wait until the end of the third quarter to announce its finding.