Independent journal on economy and transport policy
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Hyundai Merchant Marine will yield 40% of Hyundai Pusan New Terminal Co. to group PSA
The sale would happen for about 86 million dollars
March 21, 2016
The South Korean shipowning society Hyundai Merchant Marine (HMM) is about to yield great part of own participation in the terminalista enterprise Hyundai Pusan New Terminal Co. (HPNT), that it is pairs to 50% of vital more an action, to terminalista group PSA Corporation of Singapore. It has anticipated today the South Korean daily paper "Pulse" specifying that the transaction is confirmed yesterday by sources of investment banks and that relative the agreement will be signed Wednesday, day in which HMM, with an official notice to the Stock exchange of Seul, has confirmed that it will be profitable you notice the terms of an agreement of sale with PSA.
According to the newspaper, the cession of the quota, that it will have a consistency pairs to 40% of the entire capital, could happen for about 100 billion won (86 million dollars). HMM would maintain about 10% of the HPNT capital.
Hyundai Pusan New Terminal Co., that it manages docks of the port of Pusan that have an ability to annual containerized trade pairs almost 2,5 million teu, is constituted in 2010 with the scorporazione of terminalistiche activities by HMM. Currently the remaining quota capital of society (less 50% an action) is stopped by the South Korean investment trust IMM Investment Corp., that it possesses between the companies that take part of its participation pocketbook in the terminalista society Hanjin Newport Co. (HJNC) of Pusan and in the company of Hyundai navigation LNG Shipping.
In the port of Pusan group PSA of Singapore work, in already joint venture with Hanjin Transportation, the container terminal Pusan Newport International Terminal (PNIT), that it has an ability to traffic of beyond 2,2 million teu. Moreover in Korea the group of Singapore manages also the Incheon Container Terminal of the port of Inchon.
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The South Korean shipowning society Hyundai Merchant Marine (HMM) is about to yield great part of own participation in the terminalista enterprise Hyundai Pusan New Terminal Co. (HPNT), that it is pairs to 50% of vital more an action, to terminalista group PSA Corporation of Singapore. It has anticipated today the South Korean daily paper "Pulse" specifying that the transaction is confirmed yesterday by sources of investment banks and that relative the agreement will be signed Wednesday, day in which HMM, with an official notice to the Stock exchange of Seul, has confirmed that it will be profitable you notice the terms of an agreement of sale with PSA.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
