HMM liquidizes its overseas container terminals


Hyundai Merchant Marine (HMM) announced that it has raised $140m through the liquidation of its container terminals in the US. Specifically HMM has liquidized its shares of California United Terminals located in LA, US, and Washington United Terminals located in Tacoma, USA.

HMM America Inc., which held a 100% share of California United Terminals and Washington United Terminals will issue convertible preferred stocks.

HMM selected an America Private Equity Fund, Lindsay Goldberg as a preferred bidder. HMM plans to conductan inspection with Lindsay Goldberg within October after which further detailed information will be issued. The deal is expected to be concluded in Q1 2015.

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