JFE-IHI shipbuilding merger OK'd overseas

JFE Holdings Inc. and IHI Corp. have said their planned merger of the firms' shipbuilding subsidiaries has received approval from abroad, The Daily Yomiury reports.

The approval will allow JFE's Universal Shipbuilding Corp. and IHI Marine United Inc. to merge on Jan. 1.

Screening in such countries as Turkey, Germany and South Korea raised no concerns, but the integration, initially set for Oct. 1 this year, was postponed three times apparently due to delays in China.