Korea Development Bank (KDB) and Korea Ocean Business Corporation announced on Feb. 7 that negotiations on the sale of Korean container shipping company HMM have been held with a consortium of Harim Group’s Pan Ocean and JKL as a preferred bidder, but their meeting finally ended empty-handed.“During
With about one week to go until the end of negotiations for the sale of HMM, new uncertainties are affecting the future of the negotiations as global shipping industry alliances begin to reorganize. With the management of HMM in limbo as Denmark’s Maersk and Germany’s Hapag-Lloyd form a new alliance
Harim Group, selected as the preferred bidder for the acquisition of HMM, announced in its official statement on Dec. 26 that it intends to utilize HMM’s cash reserves, or retained earnings, to enhance global competitiveness.In the statement, Harim Group emphasized, “The cash assets held by HMM shou
On Dec. 18, Korea Development Bank (KDB) and the Korea Ocean Business Corporation (KOBC) announced the selection of the Pan Ocean-JKL consortium as the preferred bidder for the acquisition of the management rights of HMM, the largest ocean container shipping company in South Korea. After negotiation
The acquisition battle for South Korea’s largest shipping company HMM has narrowed to a competition between Dongwon Group and Harim Group.According to investment banking (IB) sources on Nov. 23, HMM’s bondholders, including Korea Development Bank (KDB), Korea Ocean Business Corporation, and the sell
JKL Partners, which has entered the race for the acquisition of HMM worth 5 trillion won (US$3.76 billion) after forming a consortium with Harim Group, is accelerating its efforts to secure funding through the sale of Lotte Insurance.According to the investment banking industry on Sept. 19, Private
The sale of HMM, formerly known as Hyundai Merchant Marine, is facing delays beyond the initial expectations. Korea Development Bank (KDB) is currently continuing its evaluation of eligible buyer candidates, a process it had aimed to complete within this month.According to financial industry sources
Harim, Dongwon, and the LX Group have actively joined the acquisition battle for HMM. Hapag-Lloyd, the largest shipping and container transportation company in Germany, is also participating in the preliminary bidding.According to the investment banking (IB) industry on Aug. 21, Korea Development Ba
Danawa, a first-generation e-commerce company in South Korea, is planning to conduct a preliminary tender soon.The advisor in charge of the selling process is NH Investment & Securities and the object of sale is 51.35 percent of the company, which is divided into 30.05 percent owned by the largest s
Lotte Group is selling its financial subsidiary, Lotte Capital, to its Japan-based subsidiary. Accordingly, the group has sold all of its financial subsidiaries to meet the regulatory requirements of the Monopoly Regulation and Fair Trade Act.Lotte Corp., the holding company of Lotte Group, said on
Private equity funds (PEFs) are dominating the South Korean merger and acquisition (M&A) market. This is because a large amount of money which was unable to find suitable investment destinations is flowing into PEFs, while strategic investors, including conglomerates, are reluctant to make a large i
CJ CheilJedang Corp. is seeking to join hands with private fund management firm JKL Partners Inc. to acquire U.S. frozen food firm Schwan's Co. The two companies discussed 600 billion won (US$531.21 million) worth of joint investment last year, but the talks came to a rupture. However, they have
In the Korean capital market, private equity funds (PEFs) are no longer “meoktwi,” or eat-and-run capital, or corporate raiders. They have become a major player in the Korean capital market and are changing the nation's industrial landscape.The domestic PEF market has steadily grown since the Ko
South Korean food giant CJ Group is about to complete its largest ever merger and acquisition (M&A) deal.According to investment banking (IB) industry sources on Nov. 14, CJ CheilJedang Corp., a processed food maker under conglomerate CJ Group, is to hold a board meeting on Nov. 15 to approve a prop
The Korea Corporate Governance Service announced on June 27 that all of the top three asset management firms in South Korea decided to adopt the Stewardship Code.KB Asset Management submitted its plan to the Korea Corporate Governance Service on June 21 and is planning to adopt the code in the fourt
It has been found that the National Pension Service (NPS) of South Korea is currently selecting an institution to conduct a research project on the introduction of stewardship codes. The Financial Services Commission (FSC), in the meantime, is planning to release legal guidelines related to the intr