Hyundai Merchant Marine, BlackRock in Investment Talks

Maritime Activity Reports, Inc.

August 21, 2017

(File photo: Hyundai Merchant Marine)

(File photo: Hyundai Merchant Marine)

South Korean shipper Hyundai Merchant Marine Co Ltd (HMM) is in talks with BlackRock Inc about a potential investment but details have yet to be discussed, a HMM spokesman said on Monday.
 
BlackRock is in talks with HMM to invest up to 1 trillion won ($880 million) in the nation's largest shipper, the Korea Economic Daily reported on Monday, citing unidentified investment banking and shipping industry sources.
 
A BlackRock spokeswoman could not be immediately reached for comment.
 

HMM shares were up 1.2 percent in morning trade, compared to a 0.2 percent fall for the wider market.

 

Reporting by Joyce Lee 

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