September 11, 2023
3 min

Hapag-Lloyd reportedly ruled out of HMM bid - India Shipping News

German company Hapag-Lloyd has reportedly failed to make the shortlist in the preliminary bidding for a majority stake in South Korean carrier HMM. The three local bidders, Harim Group-JKL Partners consortium, LX Group, and Dongwon have been shortlisted. Hapag-Lloyd's foreign status is believed to have been a disadvantage, as many in South Korea oppose the idea of foreign control. The stake in HMM is valued between $3.8 billion and $7.6 billion. It is uncertain whether any of the shortlisted bidders can raise the necessary capital to take control of HMM.

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Adhikansh Gupta
Content Manager

Writer and editor who covers the latest trends and innovations in the software-as-a-service (SaaS) industry