{"id":13951,"date":"2015-10-14T12:36:41","date_gmt":"2015-10-14T12:36:41","guid":{"rendered":"https:\/\/seafarersrights.org\/hmms-hyundai-securities-stake-sale-hits-roadblock\/"},"modified":"2015-10-14T12:36:41","modified_gmt":"2015-10-14T12:36:41","slug":"hmms-hyundai-securities-stake-sale-hits-roadblock","status":"publish","type":"post","link":"https:\/\/seafarersrights.org\/hmms-hyundai-securities-stake-sale-hits-roadblock\/","title":{"rendered":"HMM’s Hyundai Securities stake sale hits roadblock"},"content":{"rendered":"
\n

Hyundai Merchant Marine’s (HMM’s) planned sale of its controlling stake in Hyundai Securities has been held up by South Korea’s Financial Services Commission (FSC).<\/p>\n

The FSC is seeking clarification over a change in the composition of investors in Jabez Partners, Hyundai Securities’ second-largest shareholder.<\/p>\n

On 2 February, Japanese financial services group Orix Corp’s private equity arm had been named the preferred bidder for the cash-strapped logistics company’s 36% stake in Hyundai Securities, for which it is offering KRW647 billion (USD590 million).<\/p>\n

But just after Jabez signed an investment contract with Orix some of its investors pulled out.<\/p>\n

Korean lawmakers have also questioned the transaction, noting that HMM has invested KRW120 billion in a private equity fund set up by Orix, while also putting KRW80 billion into Buffalo Finance, a special purpose company, to purchase additional shares in Hyundai Securities.<\/p>\n

These actions suggest HMM does not intend to relinquish control of Hyundai Securities, according to members of Korea’s national assembly.<\/p>\n

HMM’s parent Hyundai Group has been struggling since the financial crisis and prolonged downturn in shipping. Since 2013, it has been trying to raise KRW3.3 trillion to boost its liquidity and repay debts.<\/p>\n

The group has sold its controlling stake in Hyundai Elevator, also to Orix, and divested its LNG shipping businesses.<\/p>\n

This month, HMM announced a partial divestment of its bulk shipping and container terminal businesses.<\/p>\n<\/p>\n

\n
(226 words) <\/div>\n
<\/a><\/a><\/a><\/div>\n<\/div>\n

This post was sourced from IHS Maritime 360: View the original article here.<\/a><\/p>\n ","protected":false},"excerpt":{"rendered":"

Hyundai Merchant Marine’s (HMM’s) planned sale of its controlling stake in Hyundai Securities has been held up by South Korea’s Financial Services Commission (FSC).
\nThe FSC is seeking clarification over a change in the composition of investors in Jabez Partners, Hyundai Securities’ second-largest<\/div>\nRead More<\/a>","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[153],"tags":[],"class_list":{"0":"post-13951","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-ihs-maritime-360","7":"entry","8":"gs-1","9":"gs-odd","10":"gs-even","11":"gs-featured-content-entry"},"acf":[],"yoast_head":"\nHMM's Hyundai Securities stake sale hits roadblock - Seafarers Rights International<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/seafarersrights.org\/hmms-hyundai-securities-stake-sale-hits-roadblock\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HMM's Hyundai Securities stake sale hits roadblock - Seafarers Rights International\" \/>\n<meta property=\"og:description\" content=\"Hyundai Merchant Marine's (HMM's) planned sale of its controlling stake in Hyundai Securities has been held up by South Korea's Financial Services Commission (FSC). The FSC is seeking clarification over a change in the composition of investors in Jabez Partners, Hyundai Securities' second-largest\" \/>\n<meta property=\"og:url\" content=\"https:\/\/seafarersrights.org\/hmms-hyundai-securities-stake-sale-hits-roadblock\/\" \/>\n<meta property=\"og:site_name\" content=\"Seafarers Rights International\" \/>\n<meta property=\"article:published_time\" content=\"2015-10-14T12:36:41+00:00\" \/>\n<meta name=\"author\" content=\"tmaggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"tmaggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/seafarersrights.org\/hmms-hyundai-securities-stake-sale-hits-roadblock\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/seafarersrights.org\/hmms-hyundai-securities-stake-sale-hits-roadblock\/\"},\"author\":{\"name\":\"tmaggs\",\"@id\":\"https:\/\/seafarersrights.org\/#\/schema\/person\/b4f712eb223fcdf4a1e0ff7f430073b4\"},\"headline\":\"HMM’s Hyundai Securities stake sale hits roadblock\",\"datePublished\":\"2015-10-14T12:36:41+00:00\",\"dateModified\":\"2015-10-14T12:36:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/seafarersrights.org\/hmms-hyundai-securities-stake-sale-hits-roadblock\/\"},\"wordCount\":243,\"publisher\":{\"@id\":\"https:\/\/seafarersrights.org\/#organization\"},\"articleSection\":[\"IHS Maritime 360\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/seafarersrights.org\/hmms-hyundai-securities-stake-sale-hits-roadblock\/\",\"url\":\"https:\/\/seafarersrights.org\/hmms-hyundai-securities-stake-sale-hits-roadblock\/\",\"name\":\"HMM's Hyundai Securities stake sale hits roadblock - Seafarers Rights International\",\"isPartOf\":{\"@id\":\"https:\/\/seafarersrights.org\/#website\"},\"datePublished\":\"2015-10-14T12:36:41+00:00\",\"dateModified\":\"2015-10-14T12:36:41+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/seafarersrights.org\/hmms-hyundai-securities-stake-sale-hits-roadblock\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/seafarersrights.org\/hmms-hyundai-securities-stake-sale-hits-roadblock\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/seafarersrights.org\/hmms-hyundai-securities-stake-sale-hits-roadblock\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/seafarersrights.org\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"HMM’s Hyundai Securities stake sale hits roadblock\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/seafarersrights.org\/#website\",\"url\":\"https:\/\/seafarersrights.org\/\",\"name\":\"Seafarers Rights International\",\"description\":\"international centre for advancing the legal protection of seafarers\",\"publisher\":{\"@id\":\"https:\/\/seafarersrights.org\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/seafarersrights.org\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/seafarersrights.org\/#organization\",\"name\":\"Seafarers Rights International\",\"url\":\"https:\/\/seafarersrights.org\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/seafarersrights.org\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/seafarersrights.org\/wp-content\/uploads\/2020\/12\/sri-logo5.jpg\",\"contentUrl\":\"https:\/\/seafarersrights.org\/wp-content\/uploads\/2020\/12\/sri-logo5.jpg\",\"width\":160,\"height\":84,\"caption\":\"Seafarers Rights International\"},\"image\":{\"@id\":\"https:\/\/seafarersrights.org\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/seafarersrights.org\/#\/schema\/person\/b4f712eb223fcdf4a1e0ff7f430073b4\",\"name\":\"tmaggs\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/seafarersrights.org\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/0f656f05c2fe9a0e3a0e7582f9ade2fc52681ddfb5bd35739c59135b0d39c996?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/0f656f05c2fe9a0e3a0e7582f9ade2fc52681ddfb5bd35739c59135b0d39c996?s=96&d=mm&r=g\",\"caption\":\"tmaggs\"},\"url\":\"https:\/\/seafarersrights.org\/author\/tmaggs\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"HMM's Hyundai Securities stake sale hits roadblock - Seafarers Rights International","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/seafarersrights.org\/hmms-hyundai-securities-stake-sale-hits-roadblock\/","og_locale":"en_GB","og_type":"article","og_title":"HMM's Hyundai Securities stake sale hits roadblock - Seafarers Rights International","og_description":"Hyundai Merchant Marine's (HMM's) planned sale of its controlling stake in Hyundai Securities has been held up by South Korea's Financial Services Commission (FSC). The FSC is seeking clarification over a change in the composition of investors in Jabez Partners, Hyundai Securities' second-largest","og_url":"https:\/\/seafarersrights.org\/hmms-hyundai-securities-stake-sale-hits-roadblock\/","og_site_name":"Seafarers Rights International","article_published_time":"2015-10-14T12:36:41+00:00","author":"tmaggs","twitter_card":"summary_large_image","twitter_misc":{"Written by":"tmaggs","Estimated reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/seafarersrights.org\/hmms-hyundai-securities-stake-sale-hits-roadblock\/#article","isPartOf":{"@id":"https:\/\/seafarersrights.org\/hmms-hyundai-securities-stake-sale-hits-roadblock\/"},"author":{"name":"tmaggs","@id":"https:\/\/seafarersrights.org\/#\/schema\/person\/b4f712eb223fcdf4a1e0ff7f430073b4"},"headline":"HMM’s Hyundai Securities stake sale hits roadblock","datePublished":"2015-10-14T12:36:41+00:00","dateModified":"2015-10-14T12:36:41+00:00","mainEntityOfPage":{"@id":"https:\/\/seafarersrights.org\/hmms-hyundai-securities-stake-sale-hits-roadblock\/"},"wordCount":243,"publisher":{"@id":"https:\/\/seafarersrights.org\/#organization"},"articleSection":["IHS Maritime 360"],"inLanguage":"en-GB"},{"@type":"WebPage","@id":"https:\/\/seafarersrights.org\/hmms-hyundai-securities-stake-sale-hits-roadblock\/","url":"https:\/\/seafarersrights.org\/hmms-hyundai-securities-stake-sale-hits-roadblock\/","name":"HMM's Hyundai Securities stake sale hits roadblock - Seafarers Rights International","isPartOf":{"@id":"https:\/\/seafarersrights.org\/#website"},"datePublished":"2015-10-14T12:36:41+00:00","dateModified":"2015-10-14T12:36:41+00:00","breadcrumb":{"@id":"https:\/\/seafarersrights.org\/hmms-hyundai-securities-stake-sale-hits-roadblock\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/seafarersrights.org\/hmms-hyundai-securities-stake-sale-hits-roadblock\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/seafarersrights.org\/hmms-hyundai-securities-stake-sale-hits-roadblock\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/seafarersrights.org\/"},{"@type":"ListItem","position":2,"name":"HMM’s Hyundai Securities stake sale hits roadblock"}]},{"@type":"WebSite","@id":"https:\/\/seafarersrights.org\/#website","url":"https:\/\/seafarersrights.org\/","name":"Seafarers Rights International","description":"international centre for advancing the legal protection of seafarers","publisher":{"@id":"https:\/\/seafarersrights.org\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/seafarersrights.org\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-GB"},{"@type":"Organization","@id":"https:\/\/seafarersrights.org\/#organization","name":"Seafarers Rights International","url":"https:\/\/seafarersrights.org\/","logo":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/seafarersrights.org\/#\/schema\/logo\/image\/","url":"https:\/\/seafarersrights.org\/wp-content\/uploads\/2020\/12\/sri-logo5.jpg","contentUrl":"https:\/\/seafarersrights.org\/wp-content\/uploads\/2020\/12\/sri-logo5.jpg","width":160,"height":84,"caption":"Seafarers Rights International"},"image":{"@id":"https:\/\/seafarersrights.org\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/seafarersrights.org\/#\/schema\/person\/b4f712eb223fcdf4a1e0ff7f430073b4","name":"tmaggs","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/seafarersrights.org\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/0f656f05c2fe9a0e3a0e7582f9ade2fc52681ddfb5bd35739c59135b0d39c996?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0f656f05c2fe9a0e3a0e7582f9ade2fc52681ddfb5bd35739c59135b0d39c996?s=96&d=mm&r=g","caption":"tmaggs"},"url":"https:\/\/seafarersrights.org\/author\/tmaggs\/"}]}},"_links":{"self":[{"href":"https:\/\/seafarersrights.org\/wp-json\/wp\/v2\/posts\/13951","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/seafarersrights.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/seafarersrights.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/seafarersrights.org\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/seafarersrights.org\/wp-json\/wp\/v2\/comments?post=13951"}],"version-history":[{"count":0,"href":"https:\/\/seafarersrights.org\/wp-json\/wp\/v2\/posts\/13951\/revisions"}],"wp:attachment":[{"href":"https:\/\/seafarersrights.org\/wp-json\/wp\/v2\/media?parent=13951"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/seafarersrights.org\/wp-json\/wp\/v2\/categories?post=13951"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/seafarersrights.org\/wp-json\/wp\/v2\/tags?post=13951"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}