Austal completes sale of stake in Aulong joint venture
Austal Limited (ASX:ASB) is pleased to announce the completion of the sale of its 40% shareholding in Aulong Shipbuilding Co. Ltd, Austal’s Joint Venture in Zhuhai, China, as initially indicated in the Company’s ASX announcement on 28 April 2021. Austal’s share in the joint venture was sold to its joint venture partner, Jianglong Shipbuilding Company (Jianglong) for approximately AU$4.2 million. Jianglong previously owned the other 60% shareholding in the joint venture company.
Austal will continue to provide Jianglong with ongoing design support on an ad hoc basis as the parties determine is appropriate.
Dec 08 2021
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