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[Alpha Biz=(Chicago) Reporter Kim Jisun] Harim Group embraces HMM, the largest container shipping company in Korea.
The Korea Development Bank and the Korea Maritime Promotion Agency announced on the 18th that they have selected the Pan Ocean and JKL consortium as the preferred bidder for the acquisition of HMM.
The number of shares subject to the sale of HMM is 398.79 million shares held by creditors. The acquisition price is known to be around 6.4 trillion won.
Harim Group reportedly received a higher score in the quantitative evaluation as it spent about 6.4 trillion won on the acquisition, slightly ahead of Dongwon Group's acquisition price.
It also received better reviews in qualitative assessments such as funding plans and shipping experience. Harim is said to raise funds with JKL Partners by selling securities, issuing permanent bonds and selling ships.
The Korea Development Bank and the Korea Maritime Promotion Agency plan to sign a SPA after negotiating detailed terms of the contract in the future and close the deal in the first half of next year.
If Harim Group successfully completes the acquisition of HMM, its assets will rise to 42.8 trillion won. It will jump 14 steps to 13th place in the business world.
Harim, which has a bulk shipping company fan ocean, leaps into a comprehensive logistics company when it holds container shipping company HMM in its arms.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
