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Photo = Yonhap news |
[Alpha Biz= Paul Lee] Hanwha Ocean announced on Tuesday that it had acquired a KRW 153.2 billion stake in its U.S. subsidiary, Hanwha Ocean USA Holdings, through a rights issue. The expected acquisition date is December 31.
Hanwha Ocean stated that the purpose of the rights issue is to secure funds for investment. Hanwha Ocean USA Holdings will inject the raised capital into its subsidiary, Hanwha Ocean USA International, through a separate rights issue. Hanwha Ocean USA International plans to use KRW 29.3 billion for operating funds and KRW 123.9 billion for acquiring securities of other companies.
Previously, in June, Hanwha Ocean invested $100 million (approximately KRW 138 billion) to acquire the Philadelphia-based Philly Shipyard. Hanwha Ocean USA International holds a 40% stake in the shipyard, while HS USA Holdings, the U.S. subsidiary of Hanwha Systems, owns the remaining 60%.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
