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Hyundai Heavy's takeover of Doosan Infracore approved by South Korean competition regulator

( July 27, 2021, 03:16 GMT | Official Statement) -- MLex Summary: A deal by Hyundai Genuine, a unit of Hyundai Heavy Industries Holdings, to acquire a controlling 34 percent stake in Doosan Infracore, South Korea’s leading construction-equipment maker, has received approval from the country’s competition regulator. The Korea Fair Trade Commission said in a statement today that despite a combined market share of more than 50 percent, the transaction is not likely to limit competition in the relevant excavator and wheel-loader markets. The deal was also filed and approved from authorities in Russia, China, Turkey and Vietnam. The KFTC approved the deal last week but only issued a statement today.The KFTC statement, in Korean, is attached....

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