Hanwha Impact Partners Sells 1.4 Trillion Won Stake in Hanwha Ocean... Proceeds to Be Used for MASGA Project

Funds to Be Used for LNG Business and Debt Repayment

Hanwha Impact Partners has sold its entire stake in Hanwha Ocean. The funds secured from the sale will be used for new investments, repayment of borrowings, and the Korea-U.S. shipbuilding cooperation project known as MASGA (Make American Shipbuilding Great Again).

Hanwha Philippines Shipyard view. Provided by Hanwha Ocean

According to the Financial Supervisory Service’s electronic disclosure on September 5, Hanwha Impact Partners sold all 13,075,691 common shares of Hanwha Ocean (representing a 4.27% stake) through an after-hours block deal following the market close the previous day. The shares were sold at 107,100 won per share, amounting to a total of 1.4 trillion won. The buyers were primarily overseas institutional investors, and it was reported that no Hanwha affiliates participated in this purchase.

As a result, Hanwha Impact Partners, which became a shareholder by acquiring a 9.26% stake during Hanwha Group’s acquisition of Hanwha Ocean in 2023, will now be removed from the list of shareholders. Earlier this year, Hanwha Impact Partners, along with Hanwha Energy and Hanwha Energy Singapore, had also transferred their Hanwha Ocean shares to Hanwha Aerospace.

Hanwha Group plans to use the proceeds from the sale for strategic businesses, including the MASGA project, LNG business, and debt repayment. Last month, in conjunction with the Korea-U.S. summit, Hanwha Group announced its plan to invest an additional $5 billion (approximately 7 trillion won) in the Hanwha Philippines Shipyard in Philadelphia, United States.

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