• BIST 106.862
  • Altın 145,039
  • Dolar 3,5263
  • Euro 4,1266
  • İstanbul 24 °C
  • Ankara 17 °C

A non-binding agreement signed

A non-binding agreement signed
South Korean shipbuilder C&Heavy Industries had signed a non-binding agreement for its sale to an unidentified Malaysian company.

South Korean shipbuilder C&Heavy Industries had signed a non-binding agreement for its sale to an unidentified Malaysian company.

Distressed South Korean shipbuilder C&Heavy Industries said on Tuesday it had signed a non-binding agreement for its sale to an unidentified Malaysian company. Local banks had ended a creditor-led rehabilitation programme for C&Heavy, a unit of C&Group, after the company failed to find a buyer by mid-March. In a filing to the Korea Exchange, C&Heavy said a possible deal would see the entire company or part of its businesses being sold. It did not name the potential buyer citing confidentiality.

The shipbuilding industry is suffering from lack of new orders and overcapacity in the global recession.

While top players such as Hyundai Heavy Industries and Daewoo Shipbuilding are holding up on order backlogs, smaller companies which had expanded business in the last few years were directly hit.

C&Heavy was earlier singled out for restructuring by domestic banks which assessed credit risks of struggling firms.

Lazard Asia and Mirae Asset Securities are handling the sale of C&Heavy.

www.TurkishMaritime.com.tr

This news is a total 343 time has been read
  • Comments 0
    UYARI: Küfür, hakaret, rencide edici cümleler veya imalar, inançlara saldırı içeren, imla kuralları ile yazılmamış,
    Türkçe karakter kullanılmayan ve büyük harflerle yazılmış yorumlar onaylanmamaktadır.
    Bu habere henüz yorum eklenmemiştir.
Other News
All Rights Reserved © 2006 TURKISH MARITIME | İzinsiz ve kaynak gösterilmeden yayınlanamaz.
Phone : 0090 212 293 75 48 | Fax : 0090 212 293 75 49 |