South Korea’s Woori Private Equity Asset Management (Woori PE) has been named as the preferred bidder for VLOC giant Polaris Shipping.
According to local news agencies, the privately owned Polaris will be sold for between KRW 400bn and KRW 500bn ($301m to $376m).
Woori PE, a subsidiary of Woori Financial Group, was reported to be one of the companies that participated in the bidding when Polaris was put up for sale as its owners sought to exit shipping.
