Japan has approved the merger of Hanwha and Daewoo Shipbuilding & Marine Engineering

Japan has approved the merger of Hanwha and Daewoo Shipbuilding & Marine Engineering: COMPANY / Reporter Paul Lee / 2023-03-20 01:45:23

This article is translated by AI company Flitto and Alhpa Biz neural machine translation technology

대우조선해양과 한화 (사진=대우조선해양, 한화그룹, 연합뉴스, 알파경제)

[Alpha Biz=(Chicago) Reporter Paul Lee] Japan has approved a business combination between Hanwha Group and Daewoo Shipbuilding & Marine Engineering. It is the third among the eight screening countries.

According to the shipbuilding industry on the 17th, Japanese authorities recently approved a business combination between Hanwha and Daewoo Shipbuilding.

It was the third time after Türkiye and the UK to complete a business combination review. As a result, Hanwha and Daewoo Shipbuilding & Marine Engineering have only five authorities, including Korea's Fair Trade Commission and the European Union, Singapore, Vietnam and China, to approve.

Once the business combination licensing process is completed, Hanwha will participate in Daewoo Shipbuilding's KRW 2 trillion paid-in capital increase to secure a 49.3% stake in management rights.