File Photo: Daewoo Shipbuilding & Marine Engineering shipyard. Credit: Panwasin seemala / Shutterstock.com BRUSSELS, April 2 (Reuters) - EU antitrust regulators have halted their investigation into world No. 1 shipbuilding group Hyundai Heavy Industries' $1.8 billion merger with Daewoo while waiting for the companies to provide information. The European Commission … [Read more...]
Hyundai Heavy’s $1.8 Billion Deal with DSME Hits EU Antitrust Hurdle
By Foo Yun Chee BRUSSELS, Dec 17 (Reuters) - World No. 1 shipbuilding group Hyundai Heavy Industries Holdings Co Ltd's $1.8 billion merger with rival Daewoo could inflate prices, EU antitrust regulators warned on Tuesday as they opened a full-scale investigation. Hyundai is seeking to reinforce its position as the world's biggest shipbuilder partly in response to … [Read more...]
South Korea to Combine World’s Two Biggest Shipbuilders in $2 Billion Deal
By Hyunjoo Jin SEOUL, Jan 31 (Reuters) - Hyundai Heavy Industries, the world's biggest shipbuilding group, has announced a share swap deal worth 2.1 trillion won ($1.98 billion) to take over second-ranked Daewoo and create a global heavyweight controlling over 20 percent of the market. The move comes as the worldwide shipbuilding sector recovers from a global economic … [Read more...]
Hyundai Heavy Seeks Stake in Rival DSME -Official
SEOUL, Jan 30 (Reuters) - South Korea's Hyundai Heavy Industries Group, the world's biggest shipbuilder, is interested in buying a stake in second-ranked rival Daewoo Shipbuilding & Marine Engineering, a Hyundai official told Reuters on Wednesday. The comments follow the group's holding firm saying on Monday it planned to sell part of its stake in refiner Hyundai Oilbank … [Read more...]
John Fredriksen’s Northern Drilling Snaps Up Newbuild Drillships on the Cheap
John Fredriksen-controlled Northern Drilling has entered into agreements to acquire two newbuild ultra-deepwater drillships from South Korea's Daewoo Shipbuilding & Marine Engineering (DSME) for the bargain price of just US $296 million apiece. The drillships were originally ordered by Seadrill in 2013 when the price tag for modern newbuild drillship was still close to … [Read more...]