Hyundai Merchant Marine, BlackRock in Investment Talks
Posted by Joseph Keefe
Monday, August 21, 2017
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