Hanwha acquisition of Daewoo Shipbuilding & Marine Engineering (Hanwha Ocean)
Hanwha took control of DSME, Korea's submarine and warship builder, through a KRW 2tn capital increase, renaming it Hanwha Ocean.
- Company
- Hanwha Ocean (formerly DSME)
- Type
- M&A
- Status
- Completed
- Date
- 23 May 2023
- Value
- KRW 2,000bn
- US$ equivalent
- US$1.5bn
- Value basis
- About KRW 2tn paid-in capital increase for 49.3%
- Region
- South Korea
- Segment
- Naval shipbuilding
Parties
- Hanwha Aerospace, Hanwha Systems and other Hanwha affiliates buyer
- Korea Development Bank and other DSME holders (diluted) seller
Key terms
- Stake
- 49.3%
- Structure
- Paid-in capital increase
- Main contract
- 16 Dec 2022
Sources
- MarineLink: Hanwha completes purchase of DSME marinelink.com · May 2023
- Marine Insight: Hanwha completes acquisition of DSME marineinsight.com · May 2023
Record DEF-INV-2023-0004. Investments are kept apart from the financings register and never counted in debt totals.
