South Korean private equity firm Hahn & Co has completed the buyout of one of the nation’s largest owners, SK Shipping, formerly part of energy conglomerate SK Group.
Hahn & Co, which already has a local shipping line in the form of H-Line, is reported as paying $1.35bn for a 90% stake in SK Shipping.
SK Shipping, which has been restructuring in recent years, is involved in the bulk carrier, petroleum product tanker, crude oil tanker and LPG and LNG carrier sectors.