South Korea’s Hyundai Merchant Marine (HMM) is planning to raise almost $180m through the sale of a stake in a compatriot terminal.
The diversified shipowner is offloading the stake in a port terminal operating company in Busan, it wrote in a regulatory filing on Thursday.
Seoul-based HMM plans to raise about KRW 200bn ($177.76m) from the sale, the announcement read. The proceeds will be used for working capital purposes, it continued.
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