Hanwha buys Austal stake

South Korea’s Hanwha Group has taken a 9.9% stake in Australian shipbuilder Austal almost a year after it proposed a full takeover. Hanwha on Tuesday said it had acquired 41.2m shares in Austal, paying A$4.45 a share. Hanwha said it aims to become a long-term strategic partner to the Australian shipbuilder rather than pursuing a …

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