Edition:
United Kingdom

Cargotec’s MacGregor Gets Acquisition Clearance From Chinese Competition Regulator


Monday, 15 Jul 2019 

July 15 (Reuters) - Cargotec Oyj ::REG-CARGOTEC’S MACGREGOR HAS RECEIVED CLEARANCE FROM THE CHINESE COMPETITION REGULATOR FOR THE ACQUISITION OF THE MARINE AND OFFSHORE BUSINESSES OF TTS GROUP: SYNERGY ESTIMATE REVISED.POTENTIAL COST SYNERGIES ARE ESTIMATED TO BE AROUND EUR 25-30 MILLION ON ANNUAL LEVEL..CLOSING WAS DELAYED FROM ORIGINAL TARGET AND BOTH PARTIES HAVE ALREADY EXECUTED SOME OF COST SAVINGS..REITERATES ITS OUTLOOK.CARGOTEC REITERATES ITS OUTLOOK PUBLISHED ON 8 FEBRUARY 2019 AND EXPECTS ITS COMPARABLE OPERATING PROFIT FOR 2019 TO IMPROVE FROM 2018 (EUR 242.1 MILLION). 

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