K Line, The Next Takeover Target?
Speculation has been mounting on possible taking over the Japanese shipping company Kawasaki Kisen Kaisha (K Line).
According to a FT report, analysts and investors have been baffled by the recent activities of Effissimo, Singapore-based fund had increased its stake in K Line to 37 per cent by early August from 6.2 per cent about a year ago.
K Line could be targeted for takeover by Effissimo Capital Management, the firm’s largest shareholder as of early August, according to recent media reports.
Effissimo, which even by industry standards is unusually opaque, declined to comment on its investment strategy.
There has been roumours that Maersk Line taking over the Japanese shipping line. There was a Japanese article on this last month but the magazine.
But according to K-Line sources, the magazine did not verify the information with K Line and there was no reason why Maersk wants to take over K-Line.
K Line expects to post a net loss of 45.5 billion Japanese yen (U.S. $454 million) for the 2016-2017 fiscal year following a 51.5 billion yen loss the prior year.