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MarketScreener Homepage  >  Equities  >  Korea Stock Exchange  >  Hyundai Heavy Industries Holdings Co., Ltd.    A267250   KR7267250009

HYUNDAI HEAVY INDUSTRIES HOLDINGS CO., LTD.

(A267250)
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Hyundai in talks with EU regulators on concessions over Daewoo deal -sources

09/23/2020 | 07:49am EST

BRUSSELS, Sept 23 (Reuters) - Hyundai Heavy Industries Holdings Co Ltd, the world's largest shipbuilder, is talking with EU antitrust regulators about concessions to allay concerns about its $1.8 billion bid for rival Daewoo , people familiar with the matter said.

The deal, in part a response to overcapacity in the sector, would reinforce the South Korean company's top position with a 21% market share and comes as rivals in China and Singapore make inroads.

The European Commission, which opened a full-scale investigation into the deal last December on concerns it could inflate prices and reduce competition in cargo shipbuilding, declined to comment.

Hyundai was not immediately available for comment while Daewoo declined to comment.

It is not clear what concessions the companies will offer. EU regulators typically favour asset sales or transfer of technologies or contracts to rivals to address competition concerns.

The Commission temporarily halted its probe on July 13, the third time it has done so. The previous two delays were due to the coronavirus crisis and also while waiting for the companies to provide data.

Much of the EU's internal and external freight trade goes by sea, with European shipping companies major customers of Hyundai and Daewoo. (Reporting by Foo Yun Chee, additional reporting by Heekyong Yang in Seoul; editing by Jason Neely)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
DAEWOO SHIPBUILDING & MARINE ENGINEERING CO., LTD. 1.82% 28000 End-of-day quote.2.19%
HYUNDAI CORPORATION -1.42% 17300 End-of-day quote.8.46%
HYUNDAI HEAVY INDUSTRIES HOLDINGS CO., LTD. 1.88% 271000 End-of-day quote.-4.41%
HYUNDAI MOTOR COMPANY 1.17% 260000 End-of-day quote.35.42%
KOREA SHIPBUILDING & OFFSHORE ENGINEERING CO., LTD. 3.81% 109000 End-of-day quote.0.46%
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More news
Financials
Sales 2020 19 601 B 17,8 B 17,8 B
Net income 2020 -192 B -0,17 B -0,17 B
Net Debt 2020 6 238 B 5,65 B 5,65 B
P/E ratio 2020 -22,8x
Yield 2020 6,38%
Capitalization 3 830 B 3 471 M 3 470 M
EV / Sales 2020 0,51x
EV / Sales 2021 0,42x
Nbr of Employees -
Free-Float 55,1%
Chart HYUNDAI HEAVY INDUSTRIES HOLDINGS CO., LTD.
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Hyundai Heavy Industries Holdings Co., Ltd. Technical Analysis Chart | A267250 | KR7267250009 | MarketScreener
Technical analysis trends HYUNDAI HEAVY INDUSTRIES HOLDINGS CO., LTD.
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 5
Average target price 343 200,00 KRW
Last Close Price 271 000,00 KRW
Spread / Highest target 36,5%
Spread / Average Target 26,6%
Spread / Lowest Target 10,7%
EPS Revisions
Managers and Directors
NameTitle
Oh-Gap Kwon Chairman & Chief Executive Officer
Myung-Joon Song Managing Director & Head-Finance
Dae-Gyu Yoon Managing Director, Head-Research & Development
Yun-Seong Hwang Independent Director
Hwa-Jin Kim Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
HYUNDAI HEAVY INDUSTRIES HOLDINGS CO., LTD.-4.41%3 471
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RELIANCE INDUSTRIES LTD-2.23%168 820
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NESTE OYJ2.06%56 224