Wonson to Invest in Shipbuilding

Wonson International Holdings Ltd. said that it would spend $ 449.6m purchasing the 100 percent stake in Jiangzhou Union Shipbuilding Co., Ltd. The Hong Kong-listed company will pay the deal with $64.2 million cash and $385.4m worth of convertible redeemable notes. The Jiangxi-based shipyard, in South China, specializes in making and operating metal ships, matching products and equipment of ships, cranes and electric equipment as well as repairing ships. Source: Trading Markets