Yuamco to acquire STX Offshore & Shipbuilding.

Yuamco agreed to acquire STX Offshore & Shipbuilding, a company offering commercial ships services, from Korea Development Bank, Export-Import Bank, Nonghyup Bank, and Woori Bank. Financial terms were not disclosed. Yuamco-KHI consortium will start to normalize the company through a paid-in capital increase. STX Offshore & Shipbuilding may face difficulties in discussing investment conditions such as reducing fixed costs, but it is expected that the investment attraction work will be completed in the first quarter of next year.