Hyundai Merchant Marine Co.,Ltd. completed the acquisition of Hanjin Pacific Corporation from Hanjin Shipping Co., Ltd. and others.
April 27, 2017
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Hyundai Merchant Marine Co.,Ltd. (KOSE:A011200) signed a contract to acquire Hanjin Pacific Corporation from Hanjin Shipping Co., Ltd. (KOSE:A117930) and Marine Terminal Investment Limited for KRW 15 billion on February 16, 2017. Out of the total purchase price, Hanjin Shipping Co., Ltd. will sell 55,000 shares and shareholder loan held in Hanjin Pacific Corporation. Hanjin Pacific Corporation had total assets of KRW 41.2 billion, sales of KRW 38.9 billion and net loss of KRW 197.7 billion as on December 31, 2016. The transaction is subject to approval from Tokyo Harbor Authority, the respective countries where the terminals are and thorough due diligence of the terminals. The transaction has been resolved by the Board of Directors of Hyundai Merchant Marine Co.,Ltd. on February 16, 2017. Hyundai Merchant Marine Co.,Ltd. acquired 91,667 shares of Hanjin Pacific Corporation from Hanjin Shipping Co., Ltd. and Marine Terminals Investment Limited. The acquisition will be closed within the first half of the year 2017. Samjong KPMG Advisory Inc. acted as a financial advisor to Hyundai Merchant Marine Co.,Ltd.
Hyundai Merchant Marine Co.,Ltd. (KOSE:A011200) completed the acquisition of Hanjin Pacific Corporation from Hanjin Shipping Co., Ltd. (KOSE:A117930) and Marine Terminal Investment Limited on April 28, 2017.
HMM Co Ltd, formerly Hyundai Merchant Marine Co Ltd, is a Korea-based company specialized in the provision of shipping services. The Company operates its business through three segments. The Container segment provides dangerous cargo service, reefer cargo services, over-sized cargo service and others. Its container services provide container carrier transportation services, which include transpacific services, Asia-Europe services, transatlantic services, intra-Asia services and Latin America services. The Bulk segment provides transportation services with vessels such as tankers, liquid natural gas (LNG) carriers, liquid petroleum gas (LPG) carriers and trampers for LNG, LPG, steel mills, power plants, coals and iron ores suppliers. The Other segment engages in the terminal operation.
HMM CO.,LTD 
