December 16 - According to South Korea's Yonhap News Agency, a consortium led by poultry processor Harim has submitted a bid for carrier Pan Ocean, which has been priced at around USD968 million.
Citing other sources, Yonhap News Agency reports that the consortium, which includes local private equity fund JKL Partners, has submitted its bid package to Samil PricewaterhouseCoopers, the lead manager of the sale.
Harim, which is a producer and processor of poultry, has reportedly said that it is seeking to enter the global grain logistics business by using the bulk operation infrastructure of Pan Ocean.
Pan Ocean, which was formerly part of the STX Group, put itself up for sale earlier this year, after going into receivership in 2013.
The Korean shipping line's fleet includes two heavy deck cargo vessels. In April of this year, Pan Ocean cancelled an order for an additional 30,000 dwt semi-submersible ship, which was placed with STX Dalian in 2012.