SEOUL -- South Korea's third-largest conglomerate, SK Group, has been in talks with Hahn & Co., a Seoul-based private equity investment group, on the possible sale of its debt-stricken shipping unit.
According to shipping industry officials, Hahn & Co. considers acquiring new shares issued by SK, with the issue price of new shares estimated to be 1.5 trillion won ($1.35 billion). SK Shipping's total borrowings stood at 4.4 trillion won at the end of June.
In 2014, Hahn & Co. set up a shipping company called H-LINE Shipping, which now operates 43 bulk carriers and seven LNG ships.