Hanwha Aerospace announced on the 10th that it will invest 1.3 trillion won to acquire the equity held by its affiliates in Hanwha Ocean.

Hanwha Aerospace disclosed that it plans to acquire 7.3% of Hanwha Ocean equity held by Hanwha Impact (5.0%) and Hanwha Energy (2.3%) at 58,100 won per share, totaling approximately 1.3 trillion won.

Hanwha Ocean Geoje plant. / Courtesy of Hanwha Ocean
Hanwha Ocean Geoje plant. / Courtesy of Hanwha Ocean

The company plans to complete the equity acquisition by the 13th of next month. With this acquisition, the consolidated equity ownership in Hanwha Ocean will increase from 34.7% to 42.0%.

Hanwha Impact Partners and Hanwha Energy, which sold their equity in Hanwha Ocean, plan to use the proceeds for new business investments and improving their financial structure.

A representative from Hanwha Aerospace said, "In addition to the existing solid business portfolio centered on ground defense, this equity acquisition expands our portfolio into the shipbuilding and marine business," adding that this is a blueprint to achieve a vision of becoming a global defense and shipbuilding corporation through synergy with the shipbuilding and marine business, which has significant long-term business potential.