TKS Co., a South Korean shipyard, said Tuesday it has signed a deal to allow a Malaysian firm to buy it out.
Under the deal, NGV Tech Sdn Bhd will buy a 66 per cent stake in TKS from its parent Kumgang Engineering & Construction Co. for US$76 million. The Malaysian firm will also provide operating capital to the shipyard.
Under the deal, NGV Tech Sdn Bhd will buy a 66 per cent stake in TKS from its parent Kumgang Engineering & Construction Co. for US$76 million. The Malaysian firm will also provide operating capital to the shipyard.