Summitel Holdings Co., Ltd. cancelled the acquisition of 29% stake in H&V Co., Ltd. from Heung-A Shipping Co., Ltd..
January 23, 2020
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Summitel Holdings Co., Ltd. agreed to acquire 29% stake in H&V Co., Ltd. from Heung-A Shipping Co., Ltd. (KOSE:A003280) for KRW 9.5 billion on January 24, 2019. Summitel will acquire 0.2 million shares for KRW 54,334 per share. The board of directors of Heung-A Shipping passed a resolution on January 24, 2019. The transaction is expected to close on February 28, 2019.
Summitel Holdings Co., Ltd. cancelled the acquisition of 29% stake in H&V Co., Ltd. from Heung-A Shipping Co., Ltd. (KOSE:A003280) on January 24, 2020.
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. 
