News / HMM suitor Dongwon hits out at rival Harim's 'unfair' bid

Dongwon Group, a bidder for South Korea’s flagship container carrier, HMM, has accused rival suitor Harim Group of making an unfair bid.

Sources in South Korea’s investment banking sector said that, on Friday, Dongwon wrote to HMM’s largest shareholders, Korea Development Bank and Korea Ocean Business Corp, complaining about Harims request that KDB and KOBC refrain from exchanging their convertible bonds for more shares in HMM.

Dongwon said: “It appears that the Harim Group-JKL Partners consortium has requested a three-year moratorium on ...