South Korean private equity firm KH Investment Group has completed the acquisition of Daehan Shipbuilding for KRW200bn ($148m).
The mid-sized Korean shipbuilder entered restructuring in 2009, and has been controlled by state-run Korea Development Bank KDB) since exiting court management eight years ago.
KH Investment Group also bought out another struggling Korean yard, STX Offshore & Shipbuilding, last year, since rebranding it as K Shipbuilding and engineering a change in its fortunes with a host of newbuild contracts secured over the past 12 months.
