TTS acquisition a step closer

Finland-headquartered crane and equipment maker for the offshore industry MacGregor has received clearance from the South Korean Fair Trade Commission on the company’s acquisition of the marine and offshore businesses of TTS Group ASA, which was announced on 8 February 2018.

MacGregor announced the approval from the German regulator on 6 November 2018 but is still waiting for approval from the competition authority in China. MacGregor expects to close the transaction in the first quarter of 2019.