STX's Aker takeover under the EU spotlight

Brussels: EU competition regulators will open an in-depth investigation of the acquisition by South Korea's STX Shipbuilding of a controlling stake in Norway's Aker Yards, according to Reuters.
In October, STX splashed $800m for a 39.2% stake in the Norwegian shipbuilder, giving it effective control of the firm. The EU will now probe the deal for a period of 90 days. [21/12/07]