Hyundai Merchant Marine liquidizes its overseas container terminals and raises $140 million

Hyundai Merchant Marine raises $140 million through the liquidation of its container terminals in the USA, the company said in its press release.

HMM liquidizes its shares of CUT(California United Terminals) located in LA, USA; WUT(Washington United Terminals) located in Tacoma, USA and raises $140 million.

HMMA(Hyundai Merchant Marine(America), INC.), 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. HMM plans to implement an actual inspection with Lindsay Goldberg within October, and seals the deal within next 1st quarter of 2015.