The antitrust regulator said Monday it has decided to give conditional approval to shipping company HD Korea Shipbuilding & Offshore Eengineering Co.'s acquisition of a controlling stake in STX Heavy Industries Co., according to Yonhap.
In July 2023, the shipping company signed a contract with a private equity firm to buy shares in STX Heavy, a major marine engines and parts manufacture, to become its largest shareholder by holding a 35.05 percent stake.
The measures include banning the refusal of supply requests for crankshafts, a pivotal engine component for vessels, and banning the postponement in supplies; ensuring the minimum volume of supply and limiting the increase in prices, which will be in effect for three years.
"The three-year period can be extended if needed given the market circumstances," the FTC said.