Sinokor Merchant Marine Co., Ltd. completed the acquisition of 90% stake in Heung-A Shipping Container Co., Ltd from Heung-A Shipping Co., Ltd..
December 30, 2019
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Sinokor Merchant Marine Co., Ltd. agreed to acquire 90% stake in Heung-A Shipping Container Co., Ltd from Heung-A Shipping Co., Ltd. (KOSE:A003280) for KRW 36 billion on November 14, 2019. Under the terms of the transaction, Jangeum Merchant Marine Co. will acquire 0.09 million shares of Heung-A Shipping Container Co., Ltd. The Board of Heung-A Shipping Co. passed the resolution for the transaction on November 14, 2019. The transaction is expected to close on November 29, 2019.
Sinokor Merchant Marine Co., Ltd. completed the acquisition of 90% stake in Heung-A Shipping Container Co., Ltd from Heung-A Shipping Co., Ltd. (KOSE:A003280) in December 2019. The proceeds from the sale will be used to reduce debt.
HEUNG-A SHIPPING CO.,LTD is a Korea-based company engaged in the marine transportation business. The Company mainly provides its marine transportation services through two divisions: container carrier division and tanker division. Its container carrier division transports cargoes using full container vessels to Japan, China and South East Asia. Its tanker division transports liquefied bulk cargoes, such as organic and inorganic chemicals, vegetable and fat oils, acid products, clean petroleum products and others using chemical tanker vessels to East Asia, South East Asia, India and Middle East Asia. It is also engaged in the provision of container yard (CY) services and real estate rental business.
HEUNG-A SHIPPING CO.,LTD. 
