Hyundai proceeds with Daewoo’s acquisition

Capt. John

South Korea’s shipbuilding group Hyundai Heavy Industries (HHI) has signed a formal deal to proceed with the acquisition of its smaller rival, Daewoo Shipbuilding & Marine Engineering (DSME).

The deal was signed on Friday with Korean state lender Korea Development Bank (KDB) and follows a conditional agreement the two parties reached in January.

The parties agreed that KDB, which holds a 55.7 percent stake in DSME with an estimated worth of KRW2.16 trillion (USD1.94 billion) will sell its stake.

KD...

https://container-news.com/hyundai-proceeds-daewoo-acquisition/

Leave a Comment