HMM Seeks New Buyer for Broker Stake
South Korea's Hyundai Merchant Marine Co Ltd (HMM) plans to seek another buyer for its majority stake in stock brokerage Hyundai Securities Co Ltd , an HMM spokesman said on Monday.
HMM's talks to sell its entire 22.4 percent stake in the brokerage to Japan's Orix Corp for about 647 billion won ($535.83 million) fell apart late last year, the spokesman said.
The plan needs to be approved by HMM's creditor banks, the spokesman added.
Reporting by Joyce Lee