PwC provided M&A advisory on the sale of Sungdong Shipbuilding & Marine Engineering Co., Ltd.

PwC Korea Deals Transaction Service team is pleased to announce the sale of shares in Sungdong Shipbuilding & Marine Engineering Co., Ltd.

Sungdong Shipbuilding & Marine Engineering Co., Ltd., established in 2003, is a mid sized shipbuilder whose shipyard is located in Tongyeong, Korea.
The company was the world’s eighth largest shipbuilder in 2007. However, it suffered from a liquidity crisis following the 2008 global financial crisis and slump in the global commerce and oil industry, and eventually applied for court led reorganization program in April 2018.

HSG Heavy Industries Co., Ltd. and Curious Partners Investment Consortium acquired shares of Sungdong Shipbuilding & Marine Engineering Co., Ltd.

The PwC Korea Deals Transaction Service team, led by Dae-Joon Park, Seong-Woo Park and Seung-Hwan Choi, participated as M&A advisor for Sungdong Shipbuilding & Marine Engineering Co., Ltd. on the sale of its equity to the consortium of HSG Industries Co., Ltd. and Curious Partners Investment and successfully closed the transaction.