Hyundai Group in talks to sell stake in logistics unit to Orix

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By Gavin van Marle

10/06/2014

The family silver sale goes on. Still desperate to boost ever-weaker balance sheets caused by the ongoing crisis in shipping, South Korean chaebol Hyundai Group is now looking to sell a stake in its freight forwarding and express logistics arm, Hyundai Logistics, to a consortium led by Japanese industrial property developer Orix. Confusingly, the Orix consortium is also likely to include Hyundai’s container shipping operation, Hyundai Merchant Marine. Other assets are also in the shop window – in total the group is reportedly looking to raise $3.2bn to pay off debt.

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Topics

Hyundai Merchant Marine The family silver CMA CGM DSME Evergreen Megamaxes MSC The ULCV knock-on effect

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