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HMM container vessel. (Photo courtesy of HMM) |
[Alpha Biz= Kim Jisun] Seoul – POSCO Group is reportedly considering entering the acquisition race for HMM, South Korea’s largest container shipping company. As the group continues to diversify its portfolio beyond steel into battery materials and other industries, a potential acquisition of HMM could create synergies by integrating manufacturing with maritime logistics.
According to investment banking (IB) industry sources on September 4, POSCO Group has begun internal reviews regarding the possible acquisition of HMM. A POSCO official commented, “We are not yet at the stage of participation, but are currently reviewing the business feasibility.”
Industry insiders added that POSCO Group has formed an advisory panel that includes a leading external consulting firm to evaluate the potential deal.
HMM’s largest shareholders are the Korea Development Bank (KDB) with a 36.02% stake and the Korea Ocean Business Corporation (KOBC) with 35.67%. However, following HMM’s ongoing share buyback, both institutions’ stakes are expected to fall to the low-30% range by mid-September.
KDB and KOBC had previously suspended the sale process after negotiations with Harim Group over HMM collapsed in early 2023.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
