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Tag: MacGregor | Ferry Shipping News

Dec 02
2

Cargotec to Sell MacGregor to Triton for EUR 480 Million, Paving the Way for Hiab’s Standalone Future

By | 2024 Newsletter week 48 | No Comments

Transaction Overview

  • Cargotec is selling its MacGregor business to Triton for an enterprise value of EUR 480 million.
  • The sale supports Hiab’s future growth as a standalone business.

Transformation Timeline

  • Cargotec’s transformation into standalone Hiab is expected to take place on 1 April 2025.
  • The sale of MacGregor is projected to close by 1 July 2025 at the latest.

Strategic Decisions

  • The transformation includes listing Kalmar as a separate company, preparing Hiab for independence, and divesting MacGregor.
  • Following the transformation, Cargotec plans to rename itself as Hiab.

Source and more information: Cargotec

Jul 17
0

FERRY FINANCE

By | 2019 Newsletter week 29 | No Comments

Cargotec’s Macgregor Received Clearance From The Chinese Competition Regulator For The Acquisition Of The Marine And Offshore Businesses Of TTS Group

MacGregor, part of Cargotec, has received a clearance decision from the Chinese competition regulator, SAMR, for the company’s acquisition of the marine and offshore businesses of TTS Group ASA. Based on revised estimates, potential cost synergies are estimated to be around EUR 25-30 million on annual level.

MacGregor now has all the regulatory approvals needed to be able to complete the transaction, which was announced on 8 February 2018. Closing of the transaction is expected to take place 31 July 2019. MacGregor previously announced approval from the German regulator on 6 November 2018, and approval from the South Korean authority on 27 December 2018.

Jun 27
0

Closing of MacGregor’s TTS Acquisition Postponed to Q3 2019

By | 2019 Newsletter week 26 | No Comments

MacGregor, part of Cargotec, announced on 8 February, 2018 that it has entered into an agreement to acquire the marine and offshore businesses of TTS Group ASA. The acquisition is subject to regulatory approvals from the competition authorities in Germany, South Korea and China. MacGregor announced the approval from the German regulator on 6 November 2018 and the approval from the South Korean regulator on 27 December 2018.

MacGregor announced in March that it expected to receive approval from the competition authority in China and close the transaction during Q2 2019. Due to a longer than expected regulatory process in China, the company currently expects closing of the transaction to take place in Q3 2019.

Jan 03
0

TECHNOLOGY

By | 2019 Newsletter week 1 | No Comments

Macgregor Receives Clearance From The South Korean Competition Regulator For The Acquisition Of TTS

MacGregor, part of Cargotec, has received a clearance decision from the South Korean Fair Trade Commission on the company’s acquisition of the marine and offshore businesses of TTS Group ASA, which was announced on 8 February, 2018.

MacGregor announced the approval from the German regulator on 6 November 2018 but is still waiting for the approval from the competition authority in China.

MacGregor expects to close the transaction in Q1 2019.

Source: Maritime Executive
Feb 15
0

TTS sells major part of its activities to MacGregor

By | 2018 Newsletter Week 07 | No Comments

Norwegian-headquartered TTS Group ASA has entered into a sales agreement with MacGregor, a subsidiary of Cargotec Oyj listed on Nasdaq Helsinki Stock Exchange in Finland.
The agreement implies a takeover by MacGregor of all TTS’ assets except for TTS Group ASA and its Syncrolift business.
Both companies are global providers of handling solutions and access systems and services for the marine and offshore industries. TTS has approximately 930 employees, while MacGregor activities counts approximately 2,000 employees.

TTS, proposed to be renamed Nekkar, will build its future operation around Business Unit Shipyard Solutions with its Syncrolift brand, and additionally seek new investment opportunities.
The transaction is subject to approvals from relevant competition authorities.

Press release
Sep 21
1

New access ramps for the Calais Port 2015 project

By | 2017 Newsletter week 38 | No Comments

MacGregor, part of Cargotec, has signed a contract with French civil engineering construction company Bouygues Travaux Publics, to design, fabricate and install three linkspan facilities in the port of Calais.
In August, the pending decision was already criticized by local politicians from extreme right party Front national. They condemned the fact that the ramps would be built in Poland, and not in the Nord Pas-de-Calais region. They also tried to prove that the floating type of linkspan is less reliable than the actual fixed links. The port authorities argued that the nearby port of Dunkerque successfully uses floating linkspans since 15 years, and with the same berthing frequency as in Calais

Photo: MacGregor
Source: MacGregor