[Photo] Hyundai Heavy Industries emerges as sole bidder in acquisition of Daewoo Shipbuilding
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Posted on : Feb.13,2019 17:54 KST
The Hyundai Heavy Industries Group has confirmed its acquisition of Daewoo Shipbuilding and Marine Engineering. The deal requires Hyundai to acquire the stake of Daewoo’s largest shareholder, the Korea Development Bank (KDB) to form a joint venture. Although Samsung Heavy Industries was invited to take part as a competitor against Hyundai, the former declined. The acquisition process is expected to be finalized next month. (Hankyoreh archives)
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