[딜사이트 최보람 기자] The HMM takeover bid is showing signs of success. This is because as soon as the Industrial Bank of Korea published a sale announcement on the 20th, groups that were not previously mentioned as original buyers are weighing M&A (mergers and acquisitions), and large companies are showing increased interest.
According to the business world on the 25th, Dongwon Group recently received an HMM investment prospectus (IM) from Samsung Securities, the manager of the HMM sale. As a result, Dongwon, Harim, and LX groups, including SM Group, which had previously announced that it would try to acquire HMM, are being discussed as potential buyers of HMM.
The expansion of existing businesses and synergies are cited as the background for their acquisition of the shipping company. First of all, SM Group expects to enjoy the effect of maximizing the sales power of SM Merchant Marine, which has become a flagship company. On the other hand, Harim, Dongwon, and LX groups can achieve results by diversifying their business portfolios. In the case of Harim, it is expected that the addition of a large-scale container business to Pan Ocean, a bulk carrier, will improve profit stability, while Dongwon and LX Group will be able to strengthen their B2B and logistics sectors through container ships.
Regarding this, an official from the business world said, “HMM is evaluated as having made a structure that can make profits even in the deterioration of the shipping market as it has made large-scale advance investments since the development of the Korea Development Bank system.”
There is also a reaction that it is difficult to be sure that the groups that have received IM from each side will actually jump into the takeover battle. This is because the ransom price of HMM is very expensive. Currently, Korea Development Bank and Korea Maritime Promotion Corporation, the first and second largest shareholders of HMM, plan to sell their holdings after converting perpetual bonds into stocks, and the market expects the sale price to reach 8 trillion won. In order to acquire HMM, it is necessary to recruit not only its own funds but also financial investors (FI) to supplement the large-scale financial resources.
Another official said, “Since Samsung and Hyundai Motors and other top-tier groups in the business world have been mentioned as original buyers of HMM, it must have been because there was no place that could pay the ransom for HMM.”
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2023-07-25 10:03:00
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