Jangeum Merchant Marine Co., Ltd. agreed to acquire 49% stake Heung-A Shipping Co., Ltd. from Heung-A Shipping Co., Ltd. for KRW 8.5 billion.
November 13, 2019
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Jangeum Merchant Marine Co., Ltd. agreed to acquire 49% stake in Heung-A Shipping (Thailand) Co., Ltd. from Heung-A Shipping Co., Ltd. (KOSE:A003280) for KRW 2.1 billion on November 14, 2019. Under the terms of the transaction, Jangeum Merchant Marine Co. will acquire 0.14 million shares of Heung-A Shipping (Thailand) Co., Ltd. As of February 25, 2020, Uahwatanasakul Co.,Ltd. agreed to acquire 49% stake in Heung-A Shipping (Thailand) Co., Ltd. from Heung-A Shipping Co., Ltd. for KRW 8.5 billion. Heung-A Shipping (Shanghai) generated net income of KRW 0.24 billion and total assets of KRW 5.9 billion for the year ended December 31, 2018. The Board of Heung-A Shipping Co. passed the resolution for the transaction on November 14, 2019. The transaction is expected to be completed by February 28, 2020.
HEUNG-A SHIPPING CO.,LTD is a Korea-based company engaged in the marine transportation business. The Company mainly provides its marine transportation services through two divisions: container carrier division and tanker division. Its container carrier division transports cargoes using full container vessels to Japan, China and South East Asia. Its tanker division transports liquefied bulk cargoes, such as organic and inorganic chemicals, vegetable and fat oils, acid products, clean petroleum products and others using chemical tanker vessels to East Asia, South East Asia, India and Middle East Asia. It is also engaged in the provision of container yard (CY) services and real estate rental business.
HEUNG-A SHIPPING CO.,LTD. 
