MacGregor Gets Final Clearance for TTS Deal

Cargotec’s MacGregor has received a clearance decision from the Chinese competition regulator for the acquisition of the marine and offshore businesses of TTS Group.

The approval has been granted by China’s State Administration for Market Regulation (SAMR).

MacGregor now has all the regulatory approvals needed to be able to complete the transaction, which was announced in February 2018. The company previously received approvals from the German regulator in November 2018 and from the South Korean authority in December 2018.

Closing of the transaction is expected to take place on July 31, 2019, the company informed.

As explained, the Chinese competition authority approval includes temporary requirements relating to the terms and conditions of certain new equipment business undertaken in China, and the need to hold certain new equipment businesses separately for a period of two years.

Based on revised estimates, potential cost synergies are estimated to be around EUR 25-30 million (USD 28.2-33.8 million) on annual level and are expected to be reached within three years from closing.

Under the deal worth more than USD 100 million, MacGregor is buying all TTS’ assets except for TTS Group ASA and its shipyard solution business Syncrolift.

Share this article

Follow World Maritime News

In Depth>


<< Apr 2020 >>
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

The 9th Annual Event Green Shiptech China Congress 2020

The 9th Annual Event- Green Shiptech China Congress 2020 will be held on next…

read more >

Belgian Offshore Days 2020

During this event, a conference will be held with focus on “Increasing value by data driven innovation…

read more >

Europort Romania

Europort Romania is the premier maritime networking event of the Black Sea and will connect maritime technology and service suppliers with high level professionals from Romania and surrounding shipbuilding markets.

More info

read more >


The future of the maritime sector is the point of focus during Maritime Industry 2020.

read more >