Citi maintains 'buy' on shipbuilder Austal, says Hanwha negotiations progressing

Austal

14/10/2026 19:43

** Citi says Austal's ASB.AX extension of the due diligence period for Hanwha Group is incrementally positive for the sale process
** The announcement highlights that negotiations with Hanwha have moved beyond due diligence into active commercial negotiations - brokerage
** Citi says due diligence appears largely complete, with only a "tail of lower materiality data requests" remaining outstanding
** "Hanwha transaction seems to be advancing in the right direction" - Citi
** Brokerage rates ASB as "buy", with a target price of A$5.75
** In August, Hanwha Group had offered to buy ASB's US operations for up to $1.20 billion
** Shares up more than 10% so far this year

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com))