TTS Group ASA ("TTS") announced on 8 February 2018 that the company had entered into an asset sale agreement with MacGregor, a subsidiary of Cargotec Oyj listed on Nasdaq Helsinki Stock Exchange in Finland.
Completion of the contemplated transaction is pending approval, unconditional or on conditions acceptable to MacGregor, from relevant competition authorities, which is China, South Korea and Germany. Approval from German competition authorities was announced 6 November 2018.
We are today informed by MacGregor that clearance of the transaction is received from the competition authorities in South Korea.
As communicated on 20 December 2018, TTS expects to close the transaction in Q1 2019.
Bergen, 27 December 2018
TTS Group ASA
http://www.ttsgroup.com
Contact persons:
Toril Eidesvik
CEO
M: +47 900 78 218
Leiv Kallestad
CFO
M: +47 958 95 661