Daehan Shipbuilding Co, a small-size oil tanker manufacturer has been acquired by a South Korean private equity consortium led by Seoul-based KH Investment Inc (KHI) for around $150 million, according to a report by The Korea Economic Daily.
The consortium has acquired a 95% stake in the unlisted business from the Korea Development Bank (KDB) having been chosen as a stalking horse bidder after offering the highest price among the initial bidders and paying a deposit of 10% of the proposed acquisition price in May of this year.
The reports ays the consortium plans to manage Daehan, which specialises in building oil tankers and petrochemical product carriers, as a strategic buyer.
