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HMM stake sale picks up pace as Harim Holdings named preferred bidder | Hellenic Shipping News Worldwide

HMM stake sale picks up pace as Harim Holdings named preferred bidder | Hellenic Shipping News Worldwide
hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.

Harim vows to use cash reserves for HMM s growth

South Korean agri-food giant Harim Group reaffirmed its commitment to use container transportation and shipping company HMM's substantial cash reserves to bolster the shipping firm's global competitiveness as it moves close its acquisition deal, denying concerns about potential misappropriation of funds. “We are committed to making strategic use of HMM's 10 trillion won ($7.7 billion) reserves to.

Are HMM s creditors at odds over Harim s takeover?

HMM’s two largest shareholders appear to have differing views on the selection of Harim Group as the preferred bidder to acquire the nation’s largest container shipping company, amid growing skepticism about the poultry processor’s plan to raise 6.4 trillion won ($5 billion) for the takeover, according to industry officials, Sunday.

Traders May Look To Resume Buying Following Brief Setback

The major U.S. index futures are currently pointing to a higher open on Thursday, with stocks likely to regain ground following the sell-off seen late in the previous session.

Seoul shares end 5-day winning streak on profit taking, US losses

South Korean stocks finished lower Thursday as investors took profit following a five-session winning streak and overnight US losses. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index dropped 14.28 points, or 0.55 percent, to close at 2,600.02. Trade volume was moderate at 569.4 million shares worth 9.31 trillion won ($7.14 billion), with losers outpacing winners 616 to 25.

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