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Hahn & Co weighs sale of South Korea's SK Shipping

Maritime Activity Reports, Inc.

December 1, 2023

(File photo: SK Shipping Co)

(File photo: SK Shipping Co)

South Korean private equity firm Hahn & Co is reviewing strategic options for its majority stake in SK Shipping Co, including a sale that could value the company at about $10 billion including debt, Bloomberg News reported on Thursday.

Hahn & Co is working with financial advisers as it weighs a partial or full sale of its stake, the report said, citing people familiar with the matter, adding that it was considering other options like selling individual divisions of the Seoul-based shipping company.

SK Shipping did not immediately respond to a Reuters request for comment, while Hahn & Co could not be immediately reached.

In 2018, Hahn & Co acquired 79% stake in SK Shipping through an equity and convertible bond offering.

SK Shipping operates a controlled fleet of 12 ships, making it the largest LNG shipping company in Korea, according to the company's website

(Reuters - Reporting by Gnaneshwar Rajan; Editing by Rashmi Aich)

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