{"id":93731,"date":"2018-08-29T02:22:05","date_gmt":"2018-08-28T18:22:05","guid":{"rendered":"https:\/\/splash247.com\/?p=93731"},"modified":"2018-08-29T12:28:33","modified_gmt":"2018-08-29T04:28:33","slug":"afc-mercury-completes-takeover-of-stx-corporation","status":"publish","type":"post","link":"https:\/\/splash247.com\/afc-mercury-completes-takeover-of-stx-corporation\/","title":{"rendered":"AFC Mercury completes takeover of STX Corporation"},"content":{"rendered":"<p>AFC Mercury, a fund jointly launched by the Chinese Academy of Agricultural Sciences and a number of Chinese banks, has completed the takeover of South Korea\u2019s STX Corporation, the remaining trading entity of defunct STX Group, after it was selected as he preferred bidder for the company in December last year.<\/p>\n<p>STX announced that its largest shareholder has been changed from the country\u2019s state-run Korea Development Bank (KDB) to AFC Mercury, which now holds 85.3% shares in the company. The price for the transaction is KRW68.5bn ($62m).<\/p>\n<p>The creditors of STX tried to sell the company to South Korea\u2019s Samra Midas Group and Harim Group last year, and both attempts ended in failure.<\/p>\n<p>AFC Korea said it will make effort to normalise the business of STX by utilising AFC\u2019s broad network around the world.<\/p>\n<p>STX Corporation, once one of the major maritime conglomerates in South Korea, engaging in many businesses including shipping, shipbuilding, energy and trading, went bankrupt last year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>AFC Mercury, a fund jointly launched by the Chinese Academy of Agricultural Sciences and a number of Chinese banks, has completed the takeover of South Korea\u2019s STX Corporation, the remaining trading entity of defunct STX Group, after it was selected as he preferred bidder for the company in December last year. STX announced that its &hellip;<\/p>\n","protected":false},"author":6,"featured_media":15881,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_ml_titleColor":"#000000","_ml_titleFont":"Roboto","_ml_titleFontSize":1.136,"_ml_titleFontWeight":"400","_ml_titleLineHeight":1.3,"_ml_metaColor":"#708090","_ml_metaFont":"Montserrat","_ml_metaFontSize":0.6785,"_ml_metaFontWeight":"400","_ml_metaLineHeight":0.92,"_ml_bodyColor":"#a9a9a9","_ml_bodyFont":"Open Sans","_ml_bodyFontSize":0.85,"_ml_bodyFontWeight":"400","_ml_bodyLineHeight":1.2,"_ml_wooPriceColor":"#666","_ml_wooPriceFont":"Open Sans","_ml_wooPriceFontSize":0.9,"_ml_wooPriceFontWeight":"400","_ml_wooPriceLineHeight":1.27,"_ml_headingColor":"#000","_ml_headingFont":"Merriweather","_ml_headingFontSize":2.02,"_ml_headingFontWeight":"700","_ml_headingLineHeight":1.47,"_mlglobal_userfontcolors":{"headingColorUser":[],"titleColorUser":[],"metaColorUser":[],"bodyColorUser":[],"wooPriceColorUser":[]},"_uag_custom_page_level_css":"","footnotes":""},"categories":[80,77],"tags":[216],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>AFC Mercury completes takeover of STX Corporation - Splash247<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/splash247.com\/afc-mercury-completes-takeover-of-stx-corporation\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AFC Mercury completes takeover of STX Corporation - Splash247\" \/>\n<meta property=\"og:description\" content=\"AFC Mercury, a fund jointly launched by the Chinese Academy of Agricultural Sciences and a number of Chinese banks, has completed the takeover of South Korea\u2019s STX Corporation, the remaining trading entity of defunct STX Group, after it was selected as he preferred bidder for the company in December last year. STX announced that its &hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/splash247.com\/afc-mercury-completes-takeover-of-stx-corporation\/\" \/>\n<meta property=\"og:site_name\" content=\"Splash247\" \/>\n<meta property=\"article:publisher\" content=\"http:\/\/www.facebook.com\/Splash247\" \/>\n<meta property=\"article:published_time\" content=\"2018-08-28T18:22:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-08-29T04:28:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/splash247.com\/wp-content\/uploads\/2015\/03\/STXdalian2-e1617084913720.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"559\" \/>\n\t<meta property=\"og:image:height\" content=\"327\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jason Jiang\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@splash_247\" \/>\n<meta name=\"twitter:site\" content=\"@splash_247\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jason Jiang\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/splash247.com\/afc-mercury-completes-takeover-of-stx-corporation\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/splash247.com\/afc-mercury-completes-takeover-of-stx-corporation\/\"},\"author\":{\"name\":\"Jason Jiang\",\"@id\":\"https:\/\/splash247.com\/#\/schema\/person\/d37d8727c6882985b73682db506c8784\"},\"headline\":\"AFC Mercury completes takeover of STX Corporation\",\"datePublished\":\"2018-08-28T18:22:05+00:00\",\"dateModified\":\"2018-08-29T04:28:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/splash247.com\/afc-mercury-completes-takeover-of-stx-corporation\/\"},\"wordCount\":171,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/splash247.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/splash247.com\/afc-mercury-completes-takeover-of-stx-corporation\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/splash247.com\/wp-content\/uploads\/2015\/03\/STXdalian2-e1617084913720.jpg\",\"keywords\":[\"South Korea\"],\"articleSection\":[\"Asia\",\"Greater China\"],\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/splash247.com\/afc-mercury-completes-takeover-of-stx-corporation\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/splash247.com\/afc-mercury-completes-takeover-of-stx-corporation\/\",\"url\":\"https:\/\/splash247.com\/afc-mercury-completes-takeover-of-stx-corporation\/\",\"name\":\"AFC Mercury completes takeover of STX Corporation - 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