South Korea’s Hanwha Group is close to agreeing a $1.3bn deal to buy a major stake in Daewoo Shipbuilding & Marine Engineering.
The deal involves Hanwha taking a 49.3% stake in the South Korean shipbuilder’s management rights, mainly from the current largest shareholder, Korea Development Bank (KDB), following a paid-in capital increase.
KDB’s shareholding will be reduced from 55.7%
