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Hyundai Merchant Marine in talks with BlackRock about potential investment
August 21, 2017 / 2:35 AM / 3 months ago

Hyundai Merchant Marine in talks with BlackRock about potential investment

SEOUL, Aug 21 (Reuters) - South Korean shipper Hyundai Merchant Marine Co Ltd (HMM) is in talks with BlackRock Inc about a potential investment but details have yet to be discussed, a HMM spokesman said on Monday.

BlackRock is in talks with HMM to invest up to 1 trillion won ($880 million) in the nation’s largest shipper, the Korea Economic Daily reported on Monday, citing unidentified investment banking and shipping industry sources.

A BlackRock spokeswoman could not be immediately reached for comment.

HMM shares were up 1.2 percent in morning trade, compared to a 0.2 percent fall for the wider market. ($1 = 1,137.0000 won) (Reporting by Joyce Lee; Editing by Edwina Gibbs)

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