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Emilija Berzanskaite
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14th January 2022
Institutional law

Commission blocks proposed acquisition between two South Korean shipbuilders 

The European Commission has prohibited the acquisition of Daewoo Shipbuilding & Marine Engineering CO., Ltd (DSME) by Hyundai Heavy Industries Holdings (HHIH) over concerns that the merged entity would have reduced competition in the worldwide market for the construction of large liquefied gas (‘LNG') carriers (‘LLNGCs'). 

Large LNG vessels are an essential element in the supply chain of liquefied natural gas (LNG) and enable the transport of this source of energy around the globe. According to the results of an in-depth investigation, the merger between the two South Korean shipbuilders would have led to a dominant position in the global market for the construction of large LNG vessels, for which there is significant demand f

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