Korean bid to buy Australian shipbuilder

South Korean company Daewoo and it’s owners Hanwah are about to try and buy out Austal including Austal USA. Austal, a predominantly Australian owned public company is one of the few successes in Australian shipbulding. Austal USA has a number of significant USN contracts including, recently, submarine components and is expected to participate in the AUKUS sub project.
The loss of Austal to Korean ownership may prove the end of Australian owned shipbuilding.
The largest single shareholder (approx 18%) in Austal is Tatterang an investment company owned by Andrew (Twiggy) Forest.