Signed a new share acquisition contract… Enhance business competitiveness by maximizing synergy
[이투뉴스] Daewoo Shipbuilding & Marine Engineering and Hanwha Group signed a main contract for the acquisition of the company.
Daewoo Shipbuilding & Marine Engineering (CEO Park Doo-seon) signed a main contract with Hanwha Group on the 16th for the issuance of new shares representing a 49.3% stake in the company. Under this contract, Hanwha Group will become the new largest shareholder of Daewoo Shipbuilding & Marine Engineering by acquiring a stake worth regarding 2 trillion won.
Daewoo Shipbuilding & Marine Engineering will newly issue 104,438,643 shares of Daewoo Shipbuilding & Marine Engineering’s common stock to Hanwha Group at 19,150 won per share through a third-party allocation paid-in capital increase.
Daewoo Shipbuilding & Marine Engineering and Hanwha Group signed an ‘investment agreement for attracting strategic investment’ in September for the purpose of fundamentally normalizing Daewoo Shipbuilding & Marine Engineering’s management. Through this, the two companies designated the Hanwha Group as a conditional investor and agreed on the basics of promoting a paid-in capital increase by allocation to a third party through a stalking horse bidding method, a competitive bidding.
Since then, as a result of receiving the intention to take over potential investors, there were no additional bidders, so Hanwha Group conducted a detailed due diligence on Daewoo Shipbuilding & Marine Engineering alone for six weeks until recently, and Daewoo Shipbuilding & Marine Engineering confirmed Hanwha Group as the final investor on the 6th.
With the signing of this main contract, Daewoo Shipbuilding & Marine Engineering plans to promote early business normalization by improving its financial structure and securing liquidity, and using this as a stepping stone, expand synergies between the Hanwha Group, the global defense industry, and the eco-friendly energy sector.
Reporter Chae Je-yong [email protected]
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