KH Funding Group completes Daehan Shipbuilding takeover

South Korean non-public fairness agency KH Funding Group has accomplished the acquisition of Daehan Shipbuilding for KRW200bn ($148m).

The mid-sized Korean shipbuilder entered restructuring in 2009, and has been managed by state-run Korea Growth Financial institution KDB) since exiting court docket administration eight years in the past.

KH Funding Group additionally purchased out one other struggling Korean yard, STX Offshore & Shipbuilding, final yr, since rebranding it as Ok Shipbuilding and engineering a change in its fortunes with a number of newbuild contracts secured over the previous 12 months.