Hanwha Aerospace to acquire stake in satellite firm

by Jon Grevatt

South Korea’s Hanwha Aerospace announced on 13 January that it will acquire a 30% stake in local firm Satrec Initiative (SI), a specialist in satellite systems for commercial and military applications.

Hanwha Aerospace said it will first acquire a 20% stake in SI featuring 1.81 million shares for KRW58.92 billion (USD54 million) in cash. It then plans to acquire an additional 10% stake by buying convertible bonds in the company worth KRW50 billion. Hanwha Aerospace expects to finalise the transaction by the end of April.

https://www.janes.com/defence-news/news-detail/hanwha-aerospace-to-acquire-stake-in-satellite-firm_14798

South Korea’s Hanwha Aerospace announced on 13 January that it will acquire a 30% stake in local fir...

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