Hyundai Merchant Marine says to seek new buyer for stock broker stake
By: Reuters | Jan 31 2016 at 08:42 PM | Liner Shipping
SEOUL - South Korea’s Hyundai Merchant Marine Co Ltd (HMM) plans to seek another buyer for its majority stake in stock brokerage Hyundai Securities Co Ltd , an HMM spokesman said on Monday.
HMM’s talks to sell its entire 22.4 percent stake in the brokerage to Japan’s Orix Corp for about 647 billion won ($535.83 million) fell apart late last year, the spokesman said.
The plan needs to be approved by HMM’s creditor banks, the spokesman added. ($1 = 1,207.4800 won)