Hanwha Techwin will take over Thales’ 50% stake in the Hanwha Thales joint venture, according to a filing to the Korea Exchange on 29 July.
Hanwha Techwin will pay $253 million in cash for the business, which will also give it 100% ownership once the transaction gains governmental approval. Thales announced on 27 July it was divesting its stake.
A spokesperson from Thales explained to Shephard the reason for pulling out of this joint venture that commenced in 2000.
‘Over the past few months, the landscape of the South Korean defence industry has been evolving significantly and at a very
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