HMM liquidizes its overseas container terminals

Hyundai Merchant Marine raises USD 140 million through the liquidation of its container terminals located in Los Angeles and Tacoma

Hyundai Merchant Marine America (HMMA) liquidizes its shares of CUT (California United Terminals) located in LA, USA; WUT (Washington United Terminals) located in Tacoma, USA and raises USD 140 million. The company, which have 100% share of CUT and WUT will issue convertible preferred stocks.

HMM selected an America Private Equity Fund, Lindsay Goldberg as a preferred bidder. Further detailed information will be dealt with after the actual inspection. It plans to implement an actual inspection with Lindsay Goldberg within October, and seals the deal within next 1st quarter of 2015.

Sinceits inception in 1976, Hyundai Merchant Marine (HMM) has continuously endeavored to become a premier global shipping and logistics company. The company is currently one of the top five Trans-Pacific carriers and one of the top 10 carriers in the global shipping industry with a varied sized fleet for Trans-Pacific, Asia-Europe, Trans-Atlantic and Inter-Asia trade. Its global service network covers more than 60 sea routes and over 100 ports of call.

www.hmm21.com

Quelle: LogEastics
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