[Alpha Biz=(Chicago) Reporter Paul Lee] It has been confirmed that the Financial Services Commission and the Ministry of Maritime Affairs and Fisheries held a closed-door meeting to coordinate the selection of a preferred bidder for the acquisition of HMM, which is seeking to be sold.

According to the government and the investment banking (IB) industry on the 15th, the Financial Services Commission and the Ministry of Oceans and Fisheries held a meeting of vice ministers to sell the HMM the previous day. Initially, the vice ministers' meeting was scheduled to be held on the 12th, but the date was hurriedly changed to the 13th as information was leaked in advance. At the meeting, more weight was reportedly put on KDB Industrial Bank's quick sale plan, which put forward financial logic such as acquisition price. The Korea Development Bank is working on a last-minute review, assuming that Harim Group will select a preferred bidder.

Harim spent more than 6.4 trillion won, more than the lowest estimated sale price (6.35 trillion won), but Dongwon Group offered around 6.2 trillion won, lower than the estimated HMM price.

The sale of HMM has been delayed for three weeks, regardless of the preferred bidder, even though the main bid was held on the 23rd of last month. The announcement of the sale of the HMM may be further delayed during the final discussion process as President Yoon Seok-yeol returns home on the 15th after a state visit to the Netherlands.

 

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