Hyundai Heavy to Buy Affiliate for $5.5 Billion in US Push (1)

HD Hyundai Heavy Industries Co. will acquire affiliate HD Hyundai Mipo in an all-stock deal valued at 7.63 trillion won ($5.5 billion), as South Korea’s largest shipbuilder looks to expand its US business amid President Donald Trump’s push to revive the industry.

The restructuring is intended to strengthen the South Korean conglomerate’s global competitiveness by expanding scale and capabilities, and preparing for the full-scale launch of shipbuilding cooperation between Seoul and Washington, according to HD Hyundai Group, the parent of the two shipbuilders.

The sector is emerging as a key beneficiary following talks earlier this week between South Korean President ...