Hanwha Group has increased its tender offer for Singapore-based Dyna-Mac Holdings Ltd. to S$0.67 (US$0.49) per share, up from its initial bid of S$0.60 last month. The revised offer represents a 35.4% premium over Dyna-Mac’s closing price before the original tender.
The South Korean conglomerate, which already holds a 24% stake in Dyna-Mac through its Aerospace and Ocean units, seeks to acquire more than 50% of the floating offshore equipment manufacturer. Hanwha’s bid still requires approval from Singapore’s competition authorities.
This move aligns with Hanwha Ocean’s strategy to expand its production base in the offshore business sector, potentially strengthening its position in the global market for floating production storage and offloading (FPSO) vessels and other offshore structures.
Hanwha’s pursuit of Dyna-Mac reflects growing interest in Singapore’s offshore industry amid shifting energy market dynamics. The acquisition could bolster Hanwha’s capabilities in modular fabrication for offshore projects, a critical component in the oil and gas supply chain.
If successful, the deal would mark a significant expansion of Hanwha’s industrial footprint in Southeast Asia, potentially reshaping the competitive landscape in the offshore equipment manufacturing sector.
