Samsung Heavy to buy $22 mln stake in Brazil shipyard

Newswire

SEOUL, June 17 (Reuters) - Samsung Heavy Industries Co Ltd , the world's No.2 shipbuilder, said on Tuesday it had agreed to buy a 10 percent stake in Brazil's Atlantico Sul Shipyard for some $22 million.

A Samsung official said the agreement was expected to help win major orders such as ones for drillships from Brazil's state-run oil company Petrobras .

"A shipbuilder needs a local company to win ship orders from Brazil and the purchase would help us secure better ...

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