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South Korean competition authority approves MacGregor takeover plan

Friday, 04 Jan 2019

South Korea’s competition regulator has approved MacGregor’s plan to acquire the marine and offshore businesses of TTS, a leading manufacturer of cranes, davits and winches.

The transaction was originally announced in February 2018. MacGregor, part of Cargotec Corporation, has already received clearance from the German competition authority but is still waiting for a decision from regulators in China.
The company announced in December that it expects to complete the deal during the first quarter of 2019.

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