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Hyundai Merchant Marine to sell bulk shipping business

South Korean shipper Hyundai Merchant Marine (HMM) Co Ltd said on Thursday it was in talks with a special purpose vehicle owned by local private equity firm Hahn & Company to possibly sell its bulk shipping business.

Hyundai Merchant Marine to sell bulk shipping business
26 January 2016 - 23:14

South Korean shipper Hyundai Merchant Marine (HMM) Co Ltd said on Thursday 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.

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