Australia clears Hanwha's bid to raise stake in shipbuilder Austal

Austal

11/12/2025 22:47

SYDNEY, Dec 12 (Reuters) - Australia said on Friday it would not oppose a proposal by Korea's Hanwha to increase its stake in Australian shipbuilder Austal ASB.AX to 19.9% from 9.9%, but the deal will be subject to strict conditions over data information and security.

"It follows a thorough and robust process that took account of all the relevant economic, national security and other national interest issues," Treasurer Jim Chalmers said in a statement.

Hanwha would remain a minority shareholder under the proposal and cannot increase its shareholding above 19.9%, Chalmers said.

 (Reporting by Renju Jose in Sydney; Editing by Chris Reese)

 ((renju.jose@thomsonreuters.com;))