South Korea Hyundai Mipo to sell $260 million stake in POSCO
By: Reuters | Nov 18 2014 at 02:59 AM | Liner Shipping
Hyundai Mipo Dockyard Co Ltd said on Tuesday it had decided to sell a stake worth 286 billion Korean won ($260.46 million) in steelmaker POSCO , in a bid to improve its balance sheet.
Hyundai Mipo, a shipbuilding affiliate of world’s largest shipbuilder, Hyundai Heavy Industries, specializing in smaller vessels, said in a regulatory filing the sale would take place before the market opens on November 19.