Hanwha Group to acquire the remaining 74.6% stake in Dyna-Mac for $599m.

Hanwha Group, a business conglomerate in South Korea, offered to acquire the remaining 74.6% stake in Dyna-Mac, a floating facility designer and manufacturer, for $599m. The tender offer is conditional upon a minimum acceptance condition of more than 50% of the shares in Dyna-Mac, including all shares owned by the offeror and its concert parties, and a favorable anti-trust decision from the Competition and Consumer Commission of Singapore (CCCS). With United Overseas Bank Limited acting as the financial advisor for the transaction, the tender offer process is expected to be completed by the end of this year.