IMM set to buy Hyundai Merchant Marine's LNG business
IMM Private Equity has been selected as the preferred bidder for Hyundai Merchant Marine’s (HMM) liquefied natural gas (LNG) business in a deal worth KRW1.1 trillion ($1 billion). The announcement comes a few weeks after fellow South Korean GP Hahn & Co. agreed to buy certain bulk and LNG assets from Hanjin Shipping.
All four of Korea's leading dry bulk carriers are in distress as the global shipping industry remains mired in troubles that emerged during the global financial crisis. While Hanjin and HMM are raising...
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