Hanwha Extends Due Diligence for Austal USA Acquisition
Hanwha Group has reportedly resolved key due diligence issues for the acquisition of the US division of Australian defense shipbuilder Austal and has commenced negotiations on the terms of the deal.According to foreign media outlets including Reuters and Australian defense publication Defence Connec
Hanwha Group has extended the due diligence period for its proposed acquisition of Austal USA's U.S. division, according to reports from BusinessKorea. The extension, which allows for further review of additional materials, comes after Hanwha resolved key due diligence issues, as confirmed by both Austal and BusinessKorea. The acquisition, valued at $1.05 billion to $1.2 billion, would expand Hanwha's shipbuilding business in the U.S. following its 2024 acquisition of Philly Shipyard, potentially securing local production facilities for U.S. Navy vessels.
However, Austal is still in talks with other potential buyers, including US investment firm Wildcat Infrastructure, which submitted a non-binding offer of $1.25 billion to $1.35 billion in September.
Brief written by urgent.news from BusinessKorea's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
