Dongbu Construction Consortium Selected as Preferred Bidder for Hanjin Heavy Industries Sale
[Asia Economy Reporter Moon Hyewon] The Dongbu Construction consortium has been selected as the preferred negotiator to acquire shares of Hanjin Heavy Industries.
On the 22nd, Hanjin Heavy Industries announced that the shareholders' council, composed of the largest shareholder Korea Development Bank and domestic creditor financial institutions, resolved this agenda.
The SM Line consortium was selected as the preliminary negotiator.
The sale target includes 63.44% of Hanjin Heavy Industries common shares held by the shareholders' council and 20.01% of shares held by a Philippine financial institution.
Hanjin Heavy Industries stated that specific details regarding the share sale will be disclosed again once finalized.
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Meanwhile, three parties participated in the Hanjin Heavy Industries acquisition battle: the Dongbu Construction consortium, the SM Line consortium, and the Keystone Partners consortium.
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