Hyundai Merchant Marine, BlackRock in Investment Talks
Posted by Joseph Keefe
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
