Copyright © Inderes 2011 - present. All rights reserved.
  • Latest
  • Markets
    • Morning Review
    • Stock Comparison
    • Financial Calendar
    • Dividends Calendar
    • Research
    • Articles
    • Transcripts
    • AGM Invitations
    • IPOs
  • inderesTV
  • Portfolio
  • Forum
  • Discovery
  • Q&A
  • About Us
    • Our Coverage
    • Team
Regulatory press release

Update on the regulatory process: MacGregor's TTS acquisition expected to close in Q1 2019

Hiab

CARGOTEC CORPORATION, PRESS RELEASE, 20 DECEMBER 2018 AT 9.30 EET

MacGregor, part of Cargotec, announced on 8 February, 2018 that it has entered into an agreement to acquire the marine and offshore businesses of TTS Group ASA. The acquisition is subject to regulatory approvals from competition authorities in China, Germany and South Korea. MacGregor announced the approval from the German regulator on 6 November 2018 but is still waiting for the approvals from the authorities in China and South Korea.


MacGregor earlier announced that it expects to receive all the needed approvals by the end of 2018 and to complete the transaction, according to the agreement, as soon as possible thereafter. Due to longer than expected regulatory processes in China and South Korea, the company currently expects to close the transaction in Q1 2019.



For more information please contact:
Pasi Lehtonen, Senior Vice President, Marketing, Business Development and Strategy, MacGregor
tel. +65 91737550, pasi.lehtonen@macgregor.com
Robin Thuillier, Communications Director, MacGregor
tel. +65 9730 4301, robin.thuillier@macgregor.com



MacGregor is a leader in intelligent maritime cargo and load handling with a strong portfolio of MacGregor, Hatlapa, Porsgrunn, Pusnes, Rapp Marine and Triplex products, services and solutions, all designed to perform with the sea.

Shipbuilders, shipowners and operators are able to optimise the lifetime profitability, safety, reliability and environmental sustainability of their operations by working in close cooperation with MacGregor. www.macgregor.com


MacGregor is part of Cargotec. Cargotec's (Nasdaq Helsinki: CGCBV) sales in 2017 totalled approximately EUR 3.2 billion and it employs over 11,000 people worldwide. www.cargotec.com



--
This announcement is distributed by West Corporation on behalf of West Corporation clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Cargotec Corporation via Globenewswire

Find us on social media
  • Inderes Forum
  • Youtube
  • Instagram
  • Facebook
  • X (Twitter)
Get in touch
  • info@inderes.se
  • +46 8 411 43 80
  • Vattugatan 17, 5tr
    111 52 Stockholm
Inderes
  • About us
  • Our team
  • Careers
  • Inderes as an investment
  • Services for listed companies
Our platform
  • FAQ
  • Terms of service
  • Privacy policy
  • Disclaimer
Inderes’ Disclaimer can be found here. Detailed information about each share actively monitored by Inderes is available on the company-specific pages on Inderes’ website. © Inderes Oyj. All rights reserved.