The European Union has again suspended its probe into the $1.8bn merger between South Korean yard groups Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering (DSME).
The EU’s Competition Commission confirmed the adjournment in a statement on its website, but gave no reason for the decision.
The latest halt is the third time the EU’s antitrust watchdog has stopped its investigation after two previous halts which were caused by the coronavirus outbreak.
The investigation last closed down in March this year but resumed in early June. The hope was to have a decision by early September 2020.
The EU is concerned that any potential merger could push up prices due to the companies market dominance, as well as stifle innovation in the sector.
HHI agreed to buy a 55.7% stake in DSME in March 2019 in a deal that could create the world's biggest shipbuilder with a 21% share of the global shipbuilding market.
The two South Korean yards are also awaiting the result of competition investigations in their home country, as well as Japan, China and Singapore.
So far, only Kazakhstan — necessary due to DSME's oil production unit business in the country — has approved the acquisition.
Japan is seen as the biggest obstacle to a potential tie-up, given its issues with South Korea's purported state aid for shipyards.
