MacGregor, part of Cargotec, has received a clearance decision from the South Korean Fair Trade Commission for its acquisition of the marine and offshore businesses of TTS Group ASA.
MacGregor announced the approval from the German regulator on 6 November, but is still waiting for the approval from the competition authority in China.
The Finland-based company expects to close the transaction in Q1 2019.
TTS Group recently secured a contract with Louis Dreyfus Armateurs (LDA) to provide an equipment package for Wind of Hope, the second service operations vessel (SOV) destined to operate for Ørsted.
The company will supply a new walk-to-work gangway, TTS Horizon, as well as a TTS Colibri crane for the vessel set to service the Hornsea Project Two wind farm in the UK.
TTS and Ulstein recently installed the first Colibri crane onboard Wind of Change, the first SOV for Ørsted .