South Korean defence and energy conglomerate Hanwha Group has signed an agreement to take over a controlling stake in Daewoo Shipbuilding & Marine Engineering for KRW 2 trillion ($1.4bn).
DSME announced the contract had been inked in a regulatory announcement on Friday.
In September Hanwha, South Korea’s seventh-largest conglomerate, signed an initial agreement to buyout a 49.3%
