Hyundai Merchant Marine says in talks to sell bulk shipping business
South Korean shipper Hyundai Merchant Marine (HMM) Co Ltd said it was in talks with a special purpose vehicle owned by local private equity firm Hahn & Company to possibly sell its bulk shipping business.
Earlier on Thursday, the Korea Economic Daily reported that HMM was considering selling its bulk shipping business to Hahn & Company for about 600 billion won (about $497 million) citing unnamed investment banking sources.
HMM said in a regulatory filing that although it was in talks with the private equity firm, nothing had been decided as yet.
Follow us on social media: