Hanwha Group pursues acquisition of Daewoo Shipbuilding & Marine Engineering (DSME).
By combining the group's core competencies with the design and production capabilities of the global top-tier DSME, the Hanwha Group is a stepping stone to transform DSME into an early surplus and to grow into a 'global major' in the eco-friendly energy business.
On September 26, Hanwha Group signed an MOU with DSME to secure a 49.3% stake in DSME through a 2 trillion won capital increase, including competitive bidding and due diligence.
In addition, they signed a basic agreement with KDB, the major shareholder of DSME, to cooperate for the normalization of DSME's management in the future.
If this transaction is made, Hanwha Aerospace and Hanwha Systems, which have similar business characteristics such as defense and manufacturing, machinery, order acquisition, and system integration, and have recently achieved stable results due to favorable business, will invest KRW 1 trillion and KRW 500 billion, respectively.
In addition, six affiliates will participate, including Hanwha Impact (400 billion won), which is investing in the group's new growth engine based on stable dividend income, and three subsidiaries of Hanwha Energy (100 billion won).
Investors aim to conclude the main contract by the end of November this year if they are selected as the final acquirer through fair competition after detailed due diligence.
