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[Alpha Biz=(Chicago) Reporter Paul Lee] Harim Group, which entered the HMM acquisition race, has secured cash amounting to 3.25 trillion won through Pan Ocean, the main body of the acquisition.
An official from the investment bank (IB) industry familiar with the internal situation of Harim Group said on the 10th, "Fan Ocean has secured 3.25 trillion won in financial resources through the issuance of hundreds of billions of won in perpetual bonds and securitization of assets such as ships, in addition to 1.8 trillion won secured using cashable assets such as the sale of securities."
Harim Group has previously focused on raising funds in various ways, including deciding to dispose of all 3,903,973 shares (5.8%) of Hanjin KAL shares held by Pan Ocean for 162.8 billion won on the 16th of last month.
In the market, the transaction price for 398.79 million shares (57.9%) to be acquired by HMM is estimated to be between 5 trillion won and 7 trillion won. As Harim Group has secured 3.25 trillion won, it is ready to raise nearly half of the acquisition price. Harim Group is also expected to secure about 600 billion won by forming a consortium with JKL Partners, a large private equity fund (PEF) operator in Korea.
The amount of acquisition financing worth trillions of won is expected to be flexible depending on the acquisition price to be set in the future.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
