Harim Group Chosen to Acquire HMM

The Harim Group, in partnership with a domestic private equity firm, has been chosen by state-owned creditors to acquire a controlling interest in HMM, South Korea's premier shipping company.

Korea Development Bank and Korea Ocean Business Corp, the two state financial entities, plan to execute a share purchase agreement with Harim Group. This will occur after finalizing the transaction terms, with the deal expected to be completed in the first half of the following year for HMM's 57.9% ownership stake.

While Harim Group is predominantly recognized for its operations in the poultry industry, it also has significant investments in the maritime sector. This includes the acquisition of Pan Ocean, a leading bulk carrier in the country, undertaken a few years prior.