Dongbu Construction, SM Shipping, and Keystone Participate in Hanjin Heavy Industries Main Bidding
Korea Development Bank Receives Final Bids for Hanjin Heavy Industries M&A
Three Final Bids Submitted... Next Week, Priority Negotiation Partner to Be Confirmed
[Asia Economy Reporter Jo Gang-wook] The Korea Development Bank announced on the 14th that it has closed the submission of final bid proposals for the sale of Hanjin Heavy Industries.
The Hanjin Heavy Industries Shareholders' Council, composed of the Korea Development Bank and seven other banks, is conducting a joint sale of the convertible preferred shares it owns in Hanjin Heavy Industries through a public competitive bidding process.
According to external advisory firms such as Samil Accounting Corporation and Sejong Law Firm, which are leading this transaction, there are a total of three bidders who submitted final bid proposals: the Dongbu Construction consortium, the SM Line consortium, and the Keystone Partners consortium.
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The Korea Development Bank explained, "To ensure a fair process for this transaction, the evaluation of the final bid proposals will be conducted independently by the external advisory firms, and the Shareholders' Council plans to select the preferred negotiation partner next week based on the evaluation results from the external advisory firms."
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