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Shares of Harim Holdings and its shipping subsidiary Pan Ocean, moved in the opposite direction, Wednesday, after investors showed different expectations for the poultry processor acquired an over 57 percent stake in HMM, the country’s largest shipping firm, for 6.4 trillion won ($4.9 billion).
SEOUL : Harim Holdings on Tuesday said it has been chosen as the preferred bidder to buy control of South Korea's biggest container shipper HMM, in what people with knowledge of the matter said was a 6.4 trillion won ($4.92 billion) deal.Harim and HMM creditors Korea Development Bank and Korea Ocean Busin
Harim Group is facing a bumpy road ahead for its acquisition of HMM from creditors led by the Korea Development Bank, due to the growing skepticism over the poultry processor’s capability to manage the nation’s largest container shipping firm, according to industry officials, Tuesday.
Harim Group’s consortium was named as the preferred bidder for debt-ridden container ship company HMM, leaving concerns about how it would fund the acquisition worth 6.4 trillion won ($4.9 billion), industry sources said Tuesday. Outbidding rival Dongwon Group, the company is expected to take over the 57.9 percent stake owned by controlling shareholders of HMM -- the state-run Korea Development Bank and Korea O...
Harim Holdings on Tuesday said it has been chosen as the preferred bidder to buy control of South Korea's biggest container…