Hanwha Group, the Korean defence and aerospace conglomerate which has lobbed a $1 billion bid for ASX-listed Austal, has engaged former Coalition defence minister Christopher Pyne as it accelerates its lobbying efforts in Canberra.
Pyne & Partners is the latest heavyweight consultancy advising Hanwha, which has had a significant presence in the local defence industry. Austal rejected Hanwha’s $2.825 per share offer, telling investors it is unlikely the Korean firm would be granted approval by officials in Australia and the United States given its sensitive defence contracts.
