The Seoul-based private equity firm, which holds a 53.06% stake in Hyundai Hyms through a special purpose company, pledged not to sell the stake for one year when the company was listed on the country’s junior Kosdaq market in January 2024.HD Hyundai Co.sold a 75% stake in Hyundai Hyms to J& Private in 2019 for 97.5 billion won ($67.2 million) when the conglomerate tried to take over Daewoo Shipbuilding & Marine Engineering Co., which is Hanwha Ocean Co.currently.HD Hyundai Co.’s takeover failed as the European Commission vetoed the combination in 2022.
HD Hyundai Co., the world’s second-largest shipbuilder, is in talks with a private equity firm to buy back a South Korean ship parts manufacturer to improve productivity and supply chains, investment banking industry sources said on Friday.HD Hyundai Co.has been discussing acquiring Hyundai Hyms Co.from its largest shareholder J& Private Equity since its lockup period expired on Jan.26, according to the sources.
The increasing value is expected to make it difficult to reach a deal, the sources said.“Hyundai Hyms may be sold to a third party if the negotiation drags on,” said a brokerage industry source.
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