Brussels, 3 April 2023
The European Commission has approved, under the EU Merger Regulation, the acquisition of sole control of Daewoo Shipbuilding Marine Engineering (‘DSME’) by the Hanwha Group, both of South Korea.
DSME is a shipbuilding and ocean infrastructure company. It constructs a range of commercial vessels, it supplies offshore facilities construction-related products and it designs and builds naval and specialty ships such as submarines and surface ships for military use. The Hanwha Group is comprised of Hanwha Corporation and Hanwha Energy as well as of their respective affiliates. It is active, among others, in aerospace and mechatronics, chemicals products and materials, renewable energy and energy solutions, financial services and construction.
The Commission concluded that the proposed acquisition would raise no competition concerns, given the companies’ limited combined market position resulting from the proposed transaction.
The transaction was examined under the simplified merger review procedure. More information is available on the Commission’s competition website, in the public case register under the case number M.11028.
Source – EU Commission