MacGregor’s acquisition of the marine and offshore businesses of TTS Group has received clearance from the Chinese competition authorities.
The company now has all the regulatory approvals required to complete the transaction, which was announced on February 8, 2018. The deal should close on July 31, 2019.
In order to receive approval for the acquisition, MacGregor agreed to various terms and conditions relating to new business undertaken in China. This activity will need to be held separately for a two-year period.