News / SM Group founder sets limit of $3.5bn for acquisition of HMM

Photo: SM Line

UPDATED 21.7.23 TO INCLUDE SHARE SALE DETAILS

Samra Midas (SM) Group’s founding chairman, Woo Oh-hyun, has at last confirmed his sights are set on taking over South Korean flagship carrier HMM, after becoming its third-largest shareholder.

Mr Woo disclosed his plans during an interview with the Korea Economic Daily yesterday, more than a week after HMM disclosed that SM Group had increased its stake to 6.56%.

The group, that includes rival box carrier SM Line and dry bulk specialists Korea Line Corp and ...