C& Heavy downgraded
Korea Investors Service (KIS) on October 28 announced it readjusted downward the credit rating of C& Heavy Industries’ unsecured convertible bonds to B from B+. KIS revealed it downgraded the company’s credit rating because C& HI is facing gro...
Daewoo subsidiaries to be reexamined
Hanwha Group, chosen as the priority negotiator for Daewoo Shipbuilding & Marine Engineering (DSME) acquisition, is organizing a survey team consisting of the professionals at its subsidiary companies and the external M&A consulting specialists for t...
Lindenau gets helping hand
Germany’s HSH Nordbank recently decided to grant a €28m of credit loan to compatriot Lindenau Schiffswerft & Maschinenfabrik which had been placed into the hands of a receiver after declaring itself insolvent after failing to secure financing. ...
Hanwha to be chosen as priority negotiator
Hanwha finally won the bidding war for Daewoo Shipbuilding & Marine Engineering (DSME) sale and was chosen as the priority negotiator, beating off Hyundai Heavy Industries. Korea Development Bank (KDB) confirmed in its main office in Seoul Friday tha...
Hanwha, priority negotiator?
Hanwha consortium is reportedly highly likely to be chosen as the priority negotiator for Daewoo Shipbuilding & Marine Engineering sale. An official in financial sector revealed Hanwha got the highest marks after KDB’s investigation of bid packa...
EC Competition Policy on Restructuring of Polish shipyards
The European Commission is well aware of the historic importance and the symbolic value of the Polish shipyards. This is why we have been working very hard to find a solution that would allow the restructuring of the sector in a way that provides a l...
European Parliament to debate Polish shipyards
The fate of Polish shipyards is to be debated 22th(:wednesday) during a session of the European Parliament in Strasbourg. Neelie Kroes, the European Commissioner for Competition, is also to take part in the debate. The discussion on the fate of th...
Posco eligible for fresh re-bidding for DSME sale
Another new situation is developing concerning the Daewoo Shipbuilding & Marine Engineering (DSME) sale promoted by Korea Development Bank (KDB). KDB internally examined whether POSCO would be able to bid again in case the current DSME sale is not...
Shipbuilders out of accounting illusion
South Korean shipbuilding companies, of which appraisal losses have soared owing to their foreign exchange hedging, now can avoid the risk of capital encroachment. Financial Services Commission (FSC) of the country announced Wednesday that it appr...
Hanwha wins the bidding race for DSME?
As POSCO got ‘disqualified’ in the bidding battle for Daewoo Shipbuilding & Marine Engineering (DSME), the battle became a two-sided contest between Hanwha and Hyundai Heavy Industries (HHI). With the final decision a couple of days ahead, exp...
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