CCCS OKs Hanwha’s proposed acquisition of Dyna-Mac

CCCS conducted a public consultation from 4 to 18 October.

The Competition and Consumer Commission of Singapore (CCCS) has cleared Hanwha’s proposed acquisition of Dyna-Mac for $0.67 per share.

From 4 to 18 October, CCCS sought public feedback from various stakeholders, including competitors and customers of Hanwha and Dyna-Mac.

The competition watchdog concluded that the proposed acquisition will not infringe the section 54 prohibition of the Competition Act 2004, which prohibits mergers that may substantially lessen competition within any market in Singapore.

CCCS found that the transaction is unlikely to lead to a substantial lessening of competition in the supply of offshore plants because:

Dyna-Mac’s market share in the global supply of topside modules is unlikely to be high.
Customers continue to have sufficient choice of suppliers for topside modules on a global basis.
Dyna-Mac’s topside modules represent only a small portion of those used in the global supply of offshore plants.

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