MacGregor receives clearance for TTS acquisition

Source: press release, 27 December 2018

photo: Cargotec
photo: Cargotec

MacGregor, part of Cargotec, has received a clearance decision from the South Korean Fair Trade Commission on the company’s acquisition of the marine and offshore businesses of TTS Group ASA, which was announced on 8 February, 2018.

MacGregor announced the approval from the German regulator on 6 November 2018 but is still waiting for the approval from the competition authority in China. As communicated on 20 December 2018, MacGregor expects to close the transaction in Q1 2019.