South Korea shipper HMM draws two bidders in sale of majority stake

HMM

23/11/2023 09:51

SEOUL, Nov 23 (Reuters) - Two South Korean companies
entered bids to acquire a majority stake in South Korea's
largest container shipper, HMM Co Ltd  011200.KS , Yonhap news
agency reported on Thursday, with analysts estimating the deal
could be worth up to $6.2 billion.
    HMM's creditors, including state-run Korea Development Bank
and Korea Ocean Business Corp, have put up for sale a stake of
about 58% in the shipper.
    Analysts have said the deal could be worth 6 trillion to 8
trillion won ($4.6-6.2 billion).  
    South Korea's Dongwon Group, a seafood producer, and poultry
producer Harim Group entered bids by Thursday's deadline, Yonhap
reported, citing creditor and investment banking sources.  
    Korea Development Bank declined comment. Spokespeople at
Dongwon and Harim could not immediately be reached. 
($1 = 1,294.3500 won)

 (Reporting by Joyce Lee; Editing by Edmund Klamann)
 ((joyce.lee@tr.com;))