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Hyundai Merchant Marine in talks with BlackRock about potential investment

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Hyundai Merchant Marine in talks with BlackRock about potential investment

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SEOUL (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.

(Reporting by Joyce Lee; Editing by Edwina Gibbs)
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