Korea's Hanwha buying 9.9% of Australian shipbuilder Austal, term sheet says

Hanwha Systems

17/03/2025 07:07

SYDNEY, March 17 (Reuters) - Korea's Hanwha is buying up to 9.9% of Australian shipbuilder Austal ASB.AX on Monday in an after-market offer following its failed A$1.02 billion ($646.17 million) takeover bid last year, according to a term sheet.

Hanwha is offering A$4.45 each for 41.2 million Austal shares, according to the term sheet that was seen by Reuters.

A message sent by the deal's bookrunners said books had been covered for the transaction.

($1 = 1.5785 Australian dollars)

 (Reporting by Scott Murdoch; Editing by Muralikumar Anantharaman)

 ((Scott.Murdoch@thomsonreuters.com;))