Indonesian conglomerate Sinar Mas could bid for South Korean liquefied gas shipping specialist Hyundai LNG Shipping.
Sinar Mas, founded by Indonesian-Chinese tycoon Eka Tjipta Widjaja in 1938, is one of Indonesia’s major corporations and its many subsidiaries include PT Asia Pulp & Paper and PT Golden Energy Mines Tbk.
According to investment banking (IB) industry sources, Sinar Mas has started raising funds to acquire a controlling stake in Hyundai LNG Shipping.
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