HD Hyundai Heavy Industries Transfers Acquisition Rights of Lee Young Industrial Machinery to HD Hyundai M&S
HD Hyundai Heavy Industries announced on the 25th that it will transfer all rights as a party to the tangible asset purchase and sale agreement with Iyoung Industrial Machinery to HD Hyundai M&S.
The transaction amount is 67.226 billion KRW. Iyoung Industrial Machinery is a company that manufactures blocks used in shipbuilding.
After being put up for sale in the corporate mergers and acquisitions (M&A) market last year, HD Hyundai Heavy Industries was selected as the final acquirer.
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HD Hyundai M&S is a corporation 100% funded by HD Hyundai Heavy Industries and plans to operate the ship block manufacturing business acquired from Iyoung Industrial Machinery.
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