Ocean Rig drillships at Samsung Heavy Industries. File photo courtesy Ocean Rig
SEOUL, April 28 (Reuters) – South Korean shipbuilder Samsung Heavy Industries Co Ltd denied on Tuesday a South Korean media report that it will try again to merge with sister company Samsung Engineering Co Ltd later this year.
The DongA Ilbo, citing an unnamed Samsung Group official, reported that the two firms will launch another merger attempt in May or June as part of Samsung Group’s efforts to simplify its shareholding structure in preparation for the succession of control from the ailing patriarch Lee Kun-hee to his children.
Samsung Heavy’s planned $2.5 billion takeover of Samsung Engineering collapsed in November due to shareholder opposition. Some investors were dubious about the benefits of combining a shipbuilder with an engineering and construction firm.
(Reporting by Joyce Lee; Writing by Se Young Lee; Editing by Stephen Coates)
(Bloomberg) — Only a day after completing South Korea’s biggest initial public offering in two years, KKR & Co.-backed shipping repair company HD Hyundai Marine Solution Co. has revealed its...
HOUSTON, May 8 (Reuters) – Three insurance companies have rejected Chevron’s claim over the seizure last year of an oil cargo by Iran, according to a complaint filed on Tuesday in a U.S....
(Bloomberg) — Port of Antwerp Bruges plans to develop a €250 million ($267 million) hydrogen and ammonia storage and export facility at the Namibian Port of Walvis Bay, together with...
May 2, 2024
Total Views: 1136
Why Join the gCaptain Club?
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.