Hanwha

Hanwha to acquire Philly Shipyard

In deal that was first reported as in the works last October, Philly Shipyard is to be acquired by Korea’s Hanwha Group, whose Hanwha Ocean is the former the former Daewoo Shipbuilding & Marine Engineering.

In a stock exchange announcement today Oslo-listed Philly Shipyard ASA reports that has entered into a share purchase agreement with both Hanwha Systems and Hanwha Ocean for the purchase of its sole operating subsidiary Philly Shipyard, Inc. (PSI).

The transaction will result in the Philly...

https://www.marinelog.com/shipbuilding/shipyards/shipyard-news/hanwha-to-acquire-philly-shipyard/

Hanwha makes its case for Austal acquisition

As we reported earlier, South Korea’s Hanwha Group has submitted an indicative offer to acquire the global business of Austal USA’s Australian parent, Austal (ASX:ASB), through a scheme of arrangement that would see Austal shareholders receive AUD 2.825 cash per Austal share.

In ASX trading on April 1, Austal’s share was trading in a range of AUD 2.320 – AUD 2.440. Today’s range was AUD 2.320 – AUD 2.460.

In a press release today, Hanwha says that it “brings important capabilities and investment...

https://www.marinelog.com/shipbuilding/hanwha-makes-its-case-for-austal-acquisition/

Austal confirms getting a takeover offer from Hanwha Ocean

Rumors that Australian shipbuilder Austal Limited (ASX:ASB) was the target of a takeover bid have been circulating since last July. Now, it seems, there’s some truth in one of them. In an April 1, ASX stock exchange filing, Austal (which is, of course, the parent of Austal USA) confirmed that it has confirms it received an unsolicited, conditional and non-binding indicative proposal from Korea’s Hanwha Ocean Co., Ltd under which Hanwha would acquire Austal by way of a scheme of arrangement that...

https://www.marinelog.com/news/austal-confirms-takeover-offer-from-hanwha-ocean/

Is Philly Shipyard a Hanwha takeover target?

Back in July, Korean shipbuilder Hanwha Ocean was reportedly among the suitors in a rumored bid to acquire Austal. As we reported at that time, Austal said:

“Austal is regularly involved in discussions with potential parties concerning strategic initiatives to create value for its shareholders. While discussions may take place from time to time, there can be no certainty that any opportunity will proceed … Austal will keep shareholders informed in accordance with its continuous disclosure...

https://www.marinelog.com/shipbuilding/shipyards/shipyard-news/is-philly-shipyard-a-hanwha-takeover-target/

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