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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

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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