South Korea's Hyundai Heavy Industries (HHI) has finalised an agreement with the majority shareholder of Daewoo Shipbuilding & Marine Engineering (DSME) in support of its proposed acquisition of the rival shipyard. Under the deal - signed on 8 March by HHI and the state-owned Korea Development Bank (KDB) - KDB will transfer DSME stock to a new company owned by HHI Holdings: the parent group of HHI.
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