South Korea's Hanwha Ocean halts talks to acquire shipbuilder Austal (updated)

Austal

25/09/2024 08:40

(Adds background)
       SEOUL, Sept 25 (Reuters) - South Korea's Hanwha Ocean
said in a regulatory filing on Wednesday it  042660.KS  has
halted talks to acquire Australian shipbuilder Austal  ASB.AX .
    In April, Austal said it had rejected an A$1.02 billion 
($701.35 million) takeover offer because it was unlikely to be
approved by Australian and U.S. regulators due to the
sensitivity of its operations.
        Hanwha Ocean, which is part of South Korea's
seventh-largest conglomerate with 80 trillion won ($60.14
billion) in assets, spanning the energy, defence and financial
industries, said it has agreed to halt talks about the
acquisition with Austal's management and board of directors and
notified them. 
  
        The South Korean company did not provide further
details. 
  
    ($1 = 1,330.1200 won)
  
)

 (Reporting by Heekyong Yang and Hyunjoo Jin; Editing by
Christopher Cushing, Ed Davies)
 ((Heekyong.Yang@thomsonreuters.com;))