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Photo = Hanhwa |
[Alpha Biz= Reporter Kim Jisun] Hanwha Aerospace has completed the acquisition of a 95.15% stake in Singapore-based offshore equipment manufacturer Dyna-Mac.
The acquisition was finalized through a public tender offer by Hanwha Ocean SG Holdings, a subsidiary of Hanwha Aerospace. The total investment for the stake acquisition amounted to approximately 820.7 billion KRW.
In May of this year, Hanwha Ocean and Hanwha Aerospace initially acquired a 25.4% stake in Dyna-Mac with an investment of 115.8 billion KRW. Subsequently, through a special purpose company (SPC) established in Singapore, the remaining shares were acquired via the public tender offer. The remaining 4.85% of the shares will be forcibly acquired in compliance with local stock exchange regulations.
Dyna-Mac, founded in 1990, specializes in the construction of topside structures for offshore plants. The company operates two production facilities in Singapore and is known for its expertise in manufacturing critical offshore equipment such as Floating Production Storage and Offloading (FPSO) units and Floating Liquefied Natural Gas (FLNG) units.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
