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Transport and logistics

Chalmers approves Hanwha’s move to lift Austal stake to 19.9% under strict conditions

Australia's Treasurer Jim Chalmers has approved Hanwha's bid to lift its shareholding in Australian shipbuilder Austal (ASX:ASB) from 9.9% to 19.9%, concluding an eight-month Foreign Investment Review Board assessment.

Chalmers said the decision followed "long and careful deliberation" and extensive consultation, noting it took into account economic, national security and broader national-interest considerations.

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