South Korean non-public fairness agency Hahn & Co is reviewing strategic choices for its majority stake in SK Shipping Co, together with a sale that might worth the corporate at about $10 billion together with debt, Bloomberg News reported on Thursday.
Hahn & Co is working with monetary advisers because it weighs a partial or full sale of its stake, the report stated, citing individuals aware of the matter, including that it was contemplating different choices like promoting particular person divisions of the Seoul-based transport firm.
SK Shipping didn’t instantly reply to a Reuters request for remark, whereas Hahn & Co couldn’t be instantly reached.
In 2018, Hahn & Co acquired 79% stake in SK Shipping by an fairness and convertible bond providing.
SK Shipping operates a managed fleet of 12 ships, making it the most important LNG transport firm in Korea, in accordance with the corporate’s web site
(Reuters – Reporting by Gnaneshwar Rajan; Editing by Rashmi Aich)