Korea Shipbuilding & Offshore Engineering Co., Ltd. agreed to acquire a 22.85% stake in STX Heavy Industries Co., Ltd. from Pt 2 Limited for KRW 39.1 billion.
July 30, 2023
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Korea Shipbuilding & Offshore Engineering Co., Ltd. agreed to acquire a 22.85% stake in STX Heavy Industries Co., Ltd. from Pt 2 Limited for KRW 39.1 billion on July 31, 2023. Shares will be acquired at KRW 6000 per share.
STX Heavy Industries Co., LTD is a Korea-based company mainly engaged in the manufacture of ship engine components. The Company operates its business mainly through engine component segment and shipbuilding material segment. Its engine component segment mainly produces diesel engine components, including cylinder blocks, crank shafts, cylinder liners and turbochargers, cylinder heads, pistons, cam shafts and connecting rods, which are used in ships and power generators. Its shipbuilding material segment provides cargo oil pump systems, liquefied natural gas carrier (LNGC) insulation boxes, heavy fuel oil (HFO) supply system units and purifier units. On December 3, 2013, KDB and KOREA FINANCE CORPORATION respectively subscribed 15.99% and a 3.90% stake in the Company. After the private placement, KDB and KOREA FINANCE CORPORATION became the Company's top shareholder, replacing STX Engine Co,.Ltd and four related parties, which held a combined 61.94 pct stake in the Company.
Korea Shipbuilding & Offshore Engineering Co., Ltd. agreed to acquire a 22.85% stake in STX Heavy Industries Co., Ltd. from Pt 2 Limited for KRW 39.1 billion.
STX HEAVY INDUSTRIES CO., LTD. 
