The National Advocates
Contact Us    888-491-3885 
 Facebook Google+ Twitter LinkedIn
  • Home
  • Membership
    • Top 100 Membership Directory
    • Top 40 Membership Directory
    • Practice Areas by Specialty
    • Top 100 Officers/EC
    • Top 40 Officers/EC
    • Eligibility
    • Benefits
    • Member Portal
  • Legal Education
  • Networking
  • News
  • Shop
  • About Us
    • Meet Our Team
    • Mission & Goal
    • FAQ
    • Contact Us

Hyundai Faces Probe After $1.8B Merger With Rival Daewoo

Posted on December 12, 2019 by curata

Hyundai Heavy Industries Holdings Co Ltd., the world’s largest shipbuilding company, faces an EU antitrust probe after the company bought its industry rival Daewoo Shipbuilding & Marine Engineering Co Ltd., sources told Reuters. The $1.8 billion deal was announced in January, allowing for the merged company to control over 20% of the global market. 

The European Commission will likely launch the investigation into the merger next week and could result in Hyundai selling some of its assets. 

The world shipbuilding sector has faced troubles in recent years, with Daewoo receiving a $2.6 billion bailout from South Korean banks in 2017. The Korea Development Bank (KDB) owns 55.7% of Daewoo. 

The merger will “raise the fundamental competitiveness of Daewoo, at a time when the threat from latecomers in China and Singapore is growing,” KDB Chairman Lee Don-gull said in January. Hyundai hopes EU antitrust regulators will understand the competitive threat Korean shipbuilding companies face from rival Chinese shipbuilding firms. 

Read the source article at International Business Times
Posted in Blog

Comments are closed.

Membership Directories

Click the map to access the directory

Click the map to access the directory

 

Legal News

State Farm Faces Four Racial Discrimination Lawsuits in Georgia and Texas

State Farm Faces Four Racial Discrimination Lawsuits in Georgia and Texas

Four people have filed race discrimination lawsuits against State Farm in recent weeks. Two were filed in Texas and two were [Read More...]
Transgender Employee of Cleveland Orchestra Files Healthcare Lawsuit After Allegations of Refused Surgery Coverage

Transgender Employee of Cleveland Orchestra Files Healthcare Lawsuit After Allegations of Refused Surgery Coverage

Rem Wransky has idolized the Cleveland Orchestra for years. The 29-year-old was born and raised on Cleveland’s wes[Read More...]
87-Year-Old Former Employee Sues Allegheny Health, Claims Discrimination Resulted in Her Forced Retirement

87-Year-Old Former Employee Sues Allegheny Health, Claims Discrimination Resulted in Her Forced Retirement

An 87-year-old former employee of Allegheny Valley Hospital said the hospital’s parent company forced her into retireme[Read More...]
Delta Airlines Sued by Former Employee After Allegations of Discrimination

Delta Airlines Sued by Former Employee After Allegations of Discrimination

A former Delta Air Lines flight attendant is filing an employment discrimination lawsuit, saying she was fired for posting an[Read More...]
Union Workers at Starbucks Hold Strikes Across 17 States

Union Workers at Starbucks Hold Strikes Across 17 States

Workers at Starbucks have held over 55 different strikes in at least 17 states in the US in recent months over the [Read More...]
Read More Legal News »

Follow Us!

Follow Us on FacebookFollow Us on Google+Follow Us on TwitterFollow Us on LinkedIn
 
Contact Us | Terms of Use | Privacy Policy