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MarketScreener Homepage  >  Equities  >  Korea Stock Exchange  >  Daewoo Shipbuilding & Marine Engineering Co., Ltd.    A042660   KR7042660001

DAEWOO SHIPBUILDING & MARINE ENGINEERING CO., LTD.

(A042660)
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Hyundai discussing concessions with EU regulators over Daewoo deal - sources

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09/23/2020 | 10:08am EDT
FILE PHOTO: Giant cranes of Hyundai Heavy Industries are seen in Ulsan

The world's biggest shipbuilder Hyundai Heavy Industries Holdings Co Ltd is discussing concessions with EU antitrust regulators to allay concerns over its $1.8 billion bid for rival Daewoo, people familiar with the matter said.

The deal, in part a response to overcapacity in the sector, would reinforce the South Korean company's top position with a 21% market share, and comes as rivals in China and Singapore make inroads.

The European Commission, which opened a full-scale investigation into the deal last December on concerns it could inflate prices and reduce competition in cargo shipbuilding, declined to comment.

Hyundai was not immediately available for comment, while Daewoo declined to comment.

Hyundai may face less onerous concessions after the EU competition enforcer dropped its concerns regarding the impact of the deal on the markets for large container ships, oil tankers and liquefied petroleum gas (LPG) carriers.

It is now focusing solely on liquefied natural gas (LNG) carriers, one of the people said, which are used to transport LNG between Europe and the Middle East and North Africa.

EU regulators typically favour asset sales or the transfer of technologies or contracts to rivals to address competition concerns.

The Commission temporarily halted its probe on July 13, the third time it has done so. The previous two delays were due to the coronavirus crisis and also to it waiting for the companies to provide data.

Much of the EU's internal and external freight trade goes by sea, with European shipping companies major customers of Hyundai and Daewoo.

By Foo Yun Chee


Stocks mentioned in the article
ChangeLast1st jan.
DAEWOO SHIPBUILDING & MARINE ENGINEERING CO., LTD. -1.84% 21350 End-of-day quote.-23.34%
DOW JONES AFRICA TITANS 50 INDEX 1.20% 469.73 Delayed Quote.-12.38%
HYUNDAI CORPORATION -1.08% 13800 End-of-day quote.-22.91%
HYUNDAI HEAVY INDUSTRIES HOLDINGS CO., LTD. -1.83% 214500 End-of-day quote.-36.54%
HYUNDAI MOTOR COMPANY -3.24% 164500 End-of-day quote.36.51%
KOREA SHIPBUILDING & OFFSHORE ENGINEERING CO., LTD. -1.75% 78400 End-of-day quote.-38.02%
LONDON BRENT OIL 0.53% 37.86 Delayed Quote.-43.09%
S&P AFRICA 40 INDEX 0.89% 154.11 Delayed Quote.-11.58%
WTI -1.29% 35.72 Delayed Quote.-41.06%
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Financials
Sales 2020 7 566 B 6,66 B 6,66 B
Net income 2020 317 B 0,28 B 0,28 B
Net Debt 2020 1 098 B 0,97 B 0,97 B
P/E ratio 2020 8,02x
Yield 2020 -
Capitalization 2 288 B 2 015 M 2 014 M
EV / Sales 2020 303x
EV / Sales 2021 319x
Nbr of Employees -
Free-Float 44,0%
Chart DAEWOO SHIPBUILDING & MARINE ENGINEERING CO., LTD.
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Daewoo Shipbuilding & Marine Engineering Co., Ltd. Technical Analysis Chart | MarketScreener
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Technical analysis trends DAEWOO SHIPBUILDING & MARINE ENGINEERING CO., LTD.
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 25 066,67 KRW
Last Close Price 21 350,00 KRW
Spread / Highest target 49,9%
Spread / Average Target 17,4%
Spread / Lowest Target -39,1%
EPS Revisions
Managers
NameTitle
Seong-Geun Lee President, Chief Executive Officer & Director
Yong-Seok Choi Director, Vice President, Head-Finance & Economy
Young-Gi Jeong Independent Director
Tae-Seok Yoon Independent Director
Jae-Ho Choi Independent Director