An undisclosed buyer cancelled the acquisition of 40% stake in Pusan Newport International Terminal Co., Ltd. from Hanjin Transportation Co., Ltd..
January 11, 2018
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An Undisclosed buyer agreed to acquire 40% stake in Pusan Newport International Terminal Co., Ltd. from Hanjin Transportation Co., Ltd. (KOSE:A002320) for approximately KRW 120 billion in cash on January 12, 2017. Under the terms of transaction Hanjin Transportation Co., Ltd. will sell 9.2 million Pusan Newport International Terminal Co., Ltd shares. Upon completion Hanjin Transportation Co., Ltd. will hold 0% stake in Pusan Newport International Terminal Co., Ltd. The transaction is expected to close on March 31, 2017. As of March 31, 2017, the scheduled closing date was changed to April 10, 2017.
An undisclosed buyer cancelled the acquisition of 40% stake in Pusan Newport International Terminal Co., Ltd. from Hanjin Transportation Co., Ltd. (KOSE:A002320) on January 12, 2018.
HANJIN TRANSPORTATION CO., LTD. is a Korea-based company engaged in the provision of transportation services. The Company mainly operates in land transportation business, which provides truck transportation and railroad transportation; delivery business, which provides door to door parcel services to overseas countries; stevedoring business, engaged in the operation of container yard and container freight stations and the provision of cargo handling services, and marine transportation business, which provides coastal shipping services with radioactive waste ships, container carriers, bulk carriers and others. It also engaged in forwarding, packaging, car rental, warehousing, gas station and third party logistics (3PL) businesses.
HANJIN TRANSPORTATION CO., LTD. 
