(offshore-energy.biz) South Korea’s shipbuilder Hanwha Ocean has closed its acquisition of Singapore-based offshore builder Dyna-Mac, which specializes in manufacturing marine plant topside structures for floating production, storage, and offloading (FPSO) and floating liquefied natural gas (FLNG) units.
The deal was closed on November 20, 2024, when Hanwha Ocean agreed to acquire approximately 95.15% of the total issued shares of Dyna-Mac through open market purchases on the Singaporean Exchange. Since the percentage of the total number of issued shares held in public hands has dropped below 10% – known as the free float requirement – their trading on the Singapore Exchange will be suspended.
The South Korean shipbuilder first made its intention known in September, offering to buy a 25.4% stake in the Singaporean firm for approximately $0.46 per share. The offer was boosted to $0.51 per share a month later after Dyna-Mac’s largest shareholder considered the previous offer uncompelling. In late October, the firm’s independent directors recommended that shareholders accept Hanwha’s offer.
Read full article: https://www.offshore-energy.biz/hanwha-all-done-with-singaporean-fpso-player-takeover/
Brazil Energy Insight 
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