Photo:

Another delay for MacGregor’s TTS buy

Cargotec’s MacGregor has yet to complete the acquisition of TTS Group’s marine and offshore businesses, originally proposed in February 2018.

Under the original agreement, the acquisition was subject to regulatory approvals from the competition authorities in Germany, South Korea, and China.

MacGregor, a provider of solutions for handling marine cargoes, vessel operations, and offshore loads, received approvals from the German regulator and South Korean Fair Trade Commission on November 6 and December 27, 2018, respectively.

The company had initially expected the deal to be complete in the first quarter of 2019. It then in March 2019 said the deal might be completed in the second quarter of the year citing regulatory delays in China, only to come out with a new expected timeline on Tuesday.

“Due to a longer than expected regulatory process in China, the company currently expects closing of the transaction to take place in Q3 2019,” MacGregor said.

Offshore Energy Today Staff


Spotted a typo? Have something more to add to the story? Maybe a nice photo? Contact our editorial team via email.

Offshore Energy Today, established in 2010, is read by over 10,000 industry professionals daily. We had nearly 9 million page views in 2018, with 2.4 million new users. This makes us one of the world’s most attractive online platforms in the space of offshore oil and gas and allows our partners to get maximum exposure for their online campaigns. 

If you’re interested in showcasing your company, product or technology on Offshore Energy Today contact our marketing manager Mirza Duran for advertising options.

Related news

List of related news articles