MacGregor cleared to acquire TTS

Crane and equipment maker for the offshore industry MacGregor has been cleared by the German competition regulator for its acquisition of the marine and offshore businesses of TTS.

On 5 November MacGregor, part of the Cargotec group, received a clearance decision from the German Federal Cartel Office (Bundeskartellamt) for the company’s acquisition of the marine and offshore businesses of TTS Group ASA. The acquisition was announced on 8 February 2018.

Completion of the intended transaction is still subject to regulatory approvals in China and South Korea, Cargotec said. These are expected by the end of 2018.