SM Line Expands HMM Shareholding Again, Refutes Takeover Claims

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SM Line has expanded its hold on HMM after buying more shares, leaving the market to wonder if the rival South Korean ocean-going liner operators will eventually merge, reports the Loadstar.

Acquisition of HMM shares

Last Thursday, SM Line purchased another 3.77m of HMM’s shares for KRW100bn ($76.6m), taking the Samra Midas (SM) group’s stake to 6.29%.

Other SM companies, such as Korea Shipping Corporation, Korea Line Corporation (KLC) and STX Construction, as well as group chairman Woo Oh-hyun, acquired HMM shares in a massive stock purchase.

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Source: The Loadstar 

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