The South Korean shipbuilding group Korea Shipbuilding & Offshore Engineering (KSOE) to become the largest shareholder of compatriot STX Heavy Industries, a company that produces marine engines and equipment for the marine sector. KSOE has signed an agreement to acquire from the company investments Pinetree Partners, current largest shareholder of STX Heavy Industries, 6.52 million shares of the latter, equal to about 22.85% of the share capital. The transaction will have a worth 39.14 billion won ($31 million). In addition the agreement provides for a capital increase with KSOE which will acquire 5.36 million new shares of STX Heavy Industries raising the own share at 35% with a total investment that will rise to 81.3 billion won ($64 million).