Hyundai Heavy to exercise option to buy Oilbank
SEOUL, March 25 (Reuters) - Hyundai Heavy Industries Co (009540.KS: Quote, Profile, Research, Stock Buzz) said on Tuesday it would exercise an option to buy a 70 percent stake in Hyundai Oilbank, held by Abu Dhabi-based International Petroleum Investment Co (IPIC).
The notification comes after the South Korean shipbuilder said on Monday it was seeking a South Korean court injunction to bar IPIC from selling its stake in the refiner to third parties. (Reporting by Rhee So-eui and Angela Moon; Editing by Keiron Henderson)
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