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Hanwha to take full control of S’pore Dyna-Mac with tender offer

Korea Economic Daily LogoKorea Economic Daily5d ago

Hanwha to take full control of S’pore Dyna-Mac with tender offer - Korea Economic Daily

Quick Summary:

South Korea’s chemicals-to-defense conglomerate Hanwha Group plans to acquire all shares it does not own in Dyna-Mac Holdings Ltd., a Singaporean offshore oil and gas contractor, through a tender offer of as much as 600 billion won ($447.8 million).

The group said on Wednesday that its defense and shipbuilding units Hanwha Aerospace Co.and Hanwha Ocean Co., which have already secured a combined 25.4% stake in Dyna-Mac, offered to buy the remaining stakes at S$0.60 ($0.46) per share and raise their holdings to 100%.

To take control of the company, Hanwha Group needs to secure a more than 50% stake in Dyna-Mac through the tender offer and regulatory approval from the Singaporean authorities.


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Article Details

Category: Economy

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-12 @ 11:31:28 (5 days ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 315 words

Reading Time: 2 minutes read

Sentences: 18 lines

Sentence Length: 18 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Korea Economic Daily

News ID: 22552573

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About Korea Economic Daily

Korea Economic Daily Logo

Main Topics: Economy

Official Website: kedglobal.com

Year Established: 1964

Headquarters: South Korea

News Last Updated: 1 days ago

Coverage Areas: South Korea

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #91

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