Korea Line wants HMM on board in US terminal acquisition
SM Group, which owns Korea Line, wants Hyundai Merchant Marine to join the acquisition of Hanjin Shipping's terminal in Long Beach, California. The transaction remains subject to state-owned Korea Development Bank agreeing to lend the money to Hyundai.
Korea Line overtook the early favorite, Hyundai Merchant Marine (HMM) when Hanjin Shipping's coveted service network between Asia and the US was put up for sale last week.
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