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February 2, 2010

Shipping Giants Eye Daehan Acquisition

Daewoo Shipbuilding & Marine Engineering, STX Offshore & Shipbuilding, Gahdir Investment and S&T Daewoo are eyeing for the acquisition of Korea-based Daehan Shipbuilding. The companies have submitted letters of intent for the takeover to the sale advisor of Daehan, reports

By cms admin

Daewoo Shipbuilding & Marine Engineering, STX Offshore & Shipbuilding, Gahdir Investment and S&T Daewoo are eyeing for the acquisition of Korea-based Daehan Shipbuilding.

The companies have submitted letters of intent for the takeover to the sale advisor of Daehan, reports asiasis.

Daehan Shipbuilding, a subsidiary of Daeju Group, was declared to be fit for the workout programme after it received ‘C’ grade from its creditors in the process of shipbuilding industry restructuring last year.

After a requisite expansion, the shipyard will be able to handle the three-dock system and build VLCCs.

The regular bidding for the acquisition is scheduled to be launched at the end of February, this year.

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