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Daewoo Shipbuilding plans $1.4 bln capital increase as per agreement with Hanwha Group affiliates

South Korea’s Daewoo Shipbuilding & Marine Engineering Co Ltd 042660.KS said on Monday it signed a tentative agreement for Hanwha Group to invest 2 trillion won ($1.4 billion) in return for a stake in the shipbuilder.

The agreement, signed with affiliates of Hanwha Group including Hanwha Aerospace 012450.KS, will only be valid if Hanwha is chosen after a period of being open to other bids, Daewoo said in a regulatory filing.
Source: Reuters (Reporting by Joyce Lee; Editing by Christopher Cushing and Stephen Coates)

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