CCCS seeks public feedback on Hanhwa’s stake acquisition in Dyna-Mac

Hanwha seeks to acquire more than a 50% stake in Dyna-Mac.

The Competition and Consumer Commission of Singapore (CCCS) is calling on the public to give feedback on Hanwha Group’s proposed acquisition of more than 50% stake in Dyna-Mac Holdings (Dyna-Mac) for $0.60 per share.

The acquisition aims to secure management control of Dyna-Mac for Hanwha Aerospace and Hanwha Ocean.

To take management control of Dyna-Mac, Hanwha must acquire more than 50% of its shares. Currently, Hanwha holds a 25.4% stake in Dyna-Mac Holdings.

Hanwha said that the parties do not overlap in the supply of any goods or services in Singapore.

Hanwha also said that there is a limited vertical relationship between them as Dyna-Mac engages in the fabrication of offshore topside modules, whilst Hanwha, through Hanwha Ocean, engages in the construction of offshore plants.

The public can share their feedback from 4 to 18 October.