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Hanwha Aerospace Says No Terms Finalized for Austal U.S. Business Deal

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Hanwha Aerospace (KRX:012450) said its unit is considering acquiring Austal's US business, but no specific terms of the potential deal have been finalized, denying media reports on the specific deal terms, according to a Tuesday filing with the Korean Exchange.

The company said that its unit Hanwha Defense USA plans to acquire Austal's business as part of efforts to expand its business base in the United States, but the transaction structure and timing have yet to be determined.

The company also denied media reports that the said acquisition would be completed for up to 1.7 trillion won.

Shares of the aerospace and defense company were down 6% in Tuesday trading.

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