MacGregor’s TTS acquisition to be completed in Q3/2019
MacGregor, part of Cargotec, announced on 8 February, 2018 that it had entered into an agreement to acquire the marine and offshore businesses of TTS Group ASA. The acquisition is subject to regulatory approvals from the competition authorities in Germany, South Korea and China.
MacGregor reported having obtained the approval from the German regulator on 6 November 2018 and the approval from the South Korean regulator on 27 December 2018.
MacGregor announced in March that it expected to receive approval from the competition authority in China and close the transaction during Q2/2019. Due to a longer than expected regulatory process in China, the company currently expects to complete the transaction in Q3/2019. (mw)