Korea’s STX acquires majority stake in Aker Yards for $635M

(SEOUL) — STX Group has gained a majority stake in Aker Yards, Reuters reported. The South Korean company says the successful $635.5 million tender offer will help it gain Aker’s superior technology, diverse customer base and European presence. STX more than doubled its stake in Aker to 88.4 percent.
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By Professional Mariner Staff