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[Alpha Biz=(Chicago) Reporter Kim Jisun] Dongwon Group and Harim Group, which have shown strong will to acquire HMM (formerly Hyundai Merchant Marine), the nation's largest container shipping company, participated in the main bidding.
The two companies will compete for the preferred bidder position. The key is the acquisition price. The market predicted that the sale side, including the Korea Development Bank, would have estimated around KRW 8 trillion at the sale price of HMM.
According to the investment banking (IB) industry on the 24th, Dongwon Group and Harim Group participated in the HMM main bid, which closed at 5 p.m. on the same day. LX Group, which participated in the due diligence, was absent. Harim Group has set up a consortium with JKL Partners, a private equity fund (PEF) operator, as the main body of the acquisition. Dongwon Group is mentioned as the main body of the acquisition by Dongwon ROEX, a 100% subsidiary of the holding company Dongwon Industry.
The sale target is 398.79 million HMM common shares (57.9% stake) held by the Korea Development Bank and the Korea Maritime Promotion Agency. The closing price of the HMM is 16,330 won, with a market capitalization of 11.252 trillion won. Simple equity calculation alone is more than 6.5 trillion won.
The success of this sale is by far 'price'. The sale, which will be carried out under an open competitive bid under the National Contract Act, will be made by setting the price KDB wants in advance and checking the price offered by the acquisition candidate.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
