Samsung Heavy, to Sell 4 Drillships in May... Worth 1.04 Trillion Won (Comprehensive)

Securing 450 Billion Won in Liquidity... Expected Strengthening of Financial Soundness

[Asia Economy Reporter Park Sun-mi] Samsung Heavy Industries will sell four drillships next month.

On the 21st, Samsung Heavy Industries announced that it decided to invest 590 billion KRW in the 'Curious Crete Engine Dedicated Private Equity Fund (hereinafter 'PEF').' The investment is for the sale of four drillships.

The PEF is a fund involving Samsung Heavy Industries and several domestic investment institutions, aiming to raise a total of 1.7 trillion KRW and launch in May. The PEF plans to purchase the drillships from Samsung Heavy Industries and resell them in the market, distributing the sales profits to investors according to their investment ratio and agreed investment returns.

Samsung Heavy Industries currently owns a total of five drillships. Of these, four drillships, excluding one that is chartered (including sale options) by Italy's Saipem, are planned to be sold. The sale price is expected to be approximately 1.04 trillion KRW.

A Samsung Heavy Industries official emphasized, "The sale of the drillships will secure about 450 billion KRW in liquidity, improving financial soundness, and the investment will be recovered through future resale," adding, "The strong international oil prices make the drillship market outlook positive, and it is meaningful that uncertainties have been resolved."

This content was produced with the assistance of AI translation services.