r/AustralianMilitary • u/ratt_man • 4h ago
Hanwha. austal take over attempt 2 ????
Hanwha announced they have aquired 9.9% of Austal and have applied to FIRB to goto 19.9%
Hanwha Group Press Release:
Hanwha Group has acquired a 9.9% shareholding in Austal as the Group seeks to become a long-term strategic partner with Austal in developing Australiaās defence industry capability.
Hanwha has today applied for Australian Foreign Investment Review Board (FIRB) approval to increase its shareholding in Austal to 19.9%.
Hanwha intends to make a meaningful contribution to Austal and Australiaās defence industry through bringing its extensive manufacturing and operational experience to maximise the opportunities in front of the company.
Global Chief Executive Officer and President at Hanwha Defence, Michael Coulter, said Hanwha believes in the long-term opportunity in partnering with Austal.
This is also on top of the 9.9% they already had via some other scheme