Seoul, South Korea – HMM Co., Ltd. [011200] has been identified as the preferred bidder for the acquisition of select business units from SK Shipping, according to sources in the financial investment sector. The decision was made by SK Shipping's current owner, the private equity firm Han & Company (Han & Co), in conjunction with their sales advisor, Morgan Stanley.

The due diligence process is expected to extend until mid-next month, as HMM evaluates the potential acquisition. Industry insiders suggest that the deal will likely involve a partial acquisition, as HMM's business scope does not currently include LNG carrier operations. Negotiations are reportedly focused on determining the specific assets to be included in the transaction, as well as the final purchase price.

SK Shipping's fleet, as of September 2024, comprises a diverse range of vessels, including 22 crude oil tankers, 1 product tanker, 12 LNG tankers, 14 LPG tankers, 10 bulk carriers, and 7 bunkering vessels.

Han & Co. acquired SK Shipping in 2018 for approximately 1.5 trillion won. Since then, the private equity firm has focused on streamlining the company's operations by divesting non-core assets and modernizing its fleet. These efforts have contributed to an increase in SK Shipping's corporate value.

In 2023, SK Shipping reported revenues of approximately 1,886.5 billion won and operating profits of 367.1 billion won.

[ⓒ Global Economic Times. 무단전재-재배포 금지]