Overview
- The approval imposes limits on Hanwha’s access to and storage of sensitive information and sets strict criteria for any board nominees.
- Hanwha is barred from raising its holding above 19.9 percent, keeping it as a minority investor in Austal.
- The decision aligns with FIRB’s advice after more than 10 months of interagency national security scrutiny.
- Japan had raised concerns about intellectual property linked to Austal’s planned work on Mogami-class frigates, and Australian officials say protections address those risks.
- Austal paused share trading after the announcement, and Hanwha had previously secured U.S. CFIUS clearance to increase its stake.