LX International, Dongwon Industries and the consortium of Harim Holdings and JKL Partners appear to be going all out to secure cash to win in a bid to acquire a controlling stake in HMM, which is estimated to be up to 6 trillion won ($4.5 billion), according to industry officials, Tuesday.
4 Parties, Including Hapag-Lloyd, Join Acquisition Battle for HMM | 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.
The Korea Development Bank (KDB) seems to be facing a dilemma over its plan to privatize HMM by the end of this year, as large companies have remained lukewarm about participating in the preliminary bid slated for Monday, according to industry officials, Sunday.
Aiming to expand their non-banking business portfolios, major financial firms, including local financial groups, are closely examining whether to add new insurance subsidiaries, as two insurers - KDB Life Insurance and ABL Life - are currently looking for new owners. Lotte Insurance and Tongyang Life Insurance are also deemed as candidates that are likely to be put up for sale within the next several months, attracting the interest of potential buyers.
Five South Korean Companies Vie to Take Over Flagship Carrier HMM gcaptain.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gcaptain.com Daily Mail and Mail on Sunday newspapers.