Harim’s takeover of Pan Ocean cleared

Harim’s takeover of Pan Ocean cleared

Seoul: South Korean chicken farmer Harim Group will complete its purchase of local bulker giant Pan Ocean shortly after creditors and shareholders approved a rescue plan today for the former STX unit.

The takeover will cost Harim $970m.

Pan Ocean has been under court receivership since June 2013.

Harim intends to use the line to import grain.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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2 Comments

  1. Avatar
    ym
    June 15, 2015 at 5:22 am

    It must be $970 million not $9.7 billion.

  2. Sam Chambers
    Sam Chambers
    June 15, 2015 at 7:53 am

    You are 100% correct — apologies — now fixed!