Negotiations between Harim·JKL Consortium, the preferred bidder for HMM acquisition, and the selling side have been extended by two weeks.
On the 22nd, according to the investment banking (IB) industry and the Korea Development Bank, Harim Group and the selling side, including the Korea Development Bank and the Korea Ocean Business Corporation, agreed to extend the deadline for the shareholder agreement negotiations, originally set for the 23rd, until the 6th of next month, adding two more weeks.
Previously, Harim Group requested a three-year deferral on the conversion of the remaining perpetual bonds into shares and the granting of a preemptive purchase right upon conversion of the remaining perpetual bonds into shares.
An IB industry official said, "There was originally a condition allowing a two-week extension," adding, "We expect the negotiations to be completed without any major issues by February 6."
During the five weeks of negotiations, Harim and the Korea Development Bank reportedly made small concessions to each other, achieving meaningful progress in the overall framework of the talks.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
