8.9 C
Hamburg
Tuesday, June 3, 2025
Home News SM Line in last three bids for Hanjin Heavy Industries

SM Line in last three bids for Hanjin Heavy Industries

South Korean liner operator SM Line is part of a consortium that is bidding to acquire Hanjin Heavy Industries as the bidding process reaches its final stages.

According to local media there are three consortia remaining in the race to acquire the shipbuilder, including the Korea Development Bank (KDB) Investment with Keistone Partners, SM Line consortium, and NH Private Equity group with Opus Private Equity consortium and the Korea Real Estate Investment & Trust (KOREIT).

According to Pulse, a Korean online publication, “The strongest candidate reportedly is the consortium of NH PE, Opus PE, and KOREIT, that partnered up after launching a separate takeover bid in the preliminary tender.”

The three consortia are bidding for an 83.45% stake in Hanjin Heavy Industries & Construction at a sale price of an estimated KRW600 billion (US$548.5 million) with the price of Hanjin HI shares trading at KRW8,060 at the close of trading today on the KRX.

Samil PwC and Korea Development Bank’s M&A division, are co-lead advisors for the sale and they received bids from the three consortia on 14 December. A decision is due to be announced next week.





Latest Posts

Berg Propulsion powers MPCC feeder vessels with bio-methanol optimization

NCL Nordland, the second of two advanced 1,300 TEU feeder vessels designed to pioneer bio-methanol usage in container shipping, has officially entered service. Sister vessel...

Mitsubishi Gas Chemical and MOL take delivery of Japan’s first dual-fuel methanol carrier

Mitsubishi Gas Chemical Company (MGC) announced the successful delivery of a state-of-the-art dual-fuel methanol carrier, chartered from Mitsui O.S.K. Lines (MOL), on a long-term...

Atlantic Forwarding, Atlantic Gate unite under one brand

Atlantic Forwarding and Atlantic Gate unite under one global brand: Atlantic Gate. This rebranding brings together the two entities under one brand. “This rebranding is...

Nuclear-powered vessels gain momentum amid climate push

As the shipping industry seeks radical solutions to meet climate goals and stabilize fuel costs, nuclear propulsion has re-emerged as a transformative force and...

Ukrainian ports face new risks after drone strikes on Russia

On June 1, 2025, Ukraine launched a large-scale, simultaneous drone strike campaign targeting multiple Russian air bases deep inside enemy territory. This marks a significant...
error: Content is protected !!