IMM takes full control of Hyundai LNG Shipping

Local private equity firm IMM has spent KRW173.3bn ($118.5m) to buy 20.77% of Hyundai LNG Shipping from Daishin Private Equity giving it full ownership of the Korean gas shipowner. 

IMM originally acquired the company in 2014 from HMM. Two years ago, IMM attempted to sell the company back to HMM, but negotiations collapsed over price. 

Earlier this year, cash-rich HMM entered due diligence to acquire another Korean shipowner, SK Shipping, and speculation has grown that the country’s flagship line might lodge another bid for Hyundai LNG Shipping.