Hanjin Shipping to Shed Major Businesses
South Korea's Hanjin Shipping Co Ltd is selling major businesses, including its Asia-U.S. route network, and will receive letters of intent by October 28, the company said on Thursday.
In a regulatory filing the company said a Seoul court overseeing its receivership process approved a public auction of the major businesses, and it is to get binding bids from interested parties by November 7, after a due diligence process.
Reporting by Joyce Lee