Hanjn Heavy Industries dumps Pusan Newport shares

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Hanjn Heavy Industries dumps Pusan Newport shares

Local companies are unloading shares in the Pusan Newport. Hanjin Heavy Industries and Construction said yesterday it will offload all of its 9.35 percent stake, or 10.8 million shares, in the southeastern port company to a private equity fund for 84 billion won. Hanjin in 1997 bought the shares of Pusan Newport in 1997 for 53.9 billion won.

Earlier this month, Kumho Industrial offloaded its 5.95 percent stake, or 6.87 million shares, in the port to the private equity fund for 53.6 billion won.

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