MacGregor completes TTS acquisition
The MacGregor division of Cargotec has completed the acquisition of the marine and offshore businesses of TTS Group.
The company has received a clearance decision from Chinese competition regulator SAMR for the acquisition. The approval includes temporary requirements relating to the terms and conditions of certain new equipment business undertaken in China, and the need to hold certain new equipment businesses separately for a period of two years. MacGregor now has all the regulatory approvals needed to be able to complete the transaction, which was announced last year
. The transaction is expected to be closed at the end of the month.