Daewoo Shipbuilding buys Hyundai Merchant Marine shares

2011 December 23 09:50

Daewoo Shipbuilding buys Hyundai Merchant Marine shares

Earlier this week South Korea's Daewoo Shipbuilding & Marine Engineering acquired a sizeable sum of Hyundai Merchant Marine (HMM)'s shares, Seatrade Asia online reports. On 20 December, Daewoo bought 1.5m shares (1.04%) of HMM totalling KRW 35.5bn ($30.7m), during after-hours trading on the 19th. ?According to shareholders' agreement by Daewoo and Hyundai Elevator to protect Hyundai Group's management rights, Daewoo bought the shares to fend off rivals from taking over the group.

2024 November 13

09:21

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