PRINT THIS PAGE

US Carlyle in talks over a stake in South Korea's Hanjin Shipping

Korean shipping firm Hanjin has revealed it is looking to sell part of its terminal business to US buy-out giant The Carlyle Group to raise funds for future investment.

Hanjin, South Korea's biggest container shipping firm owns three domestic terminals and six terminals abroad.

Although the company has confirmed its interest in selling a stake in its terminals, it has denied it would sell its entire logistics business to the private equity fund.

'We are considering ways to manage our logistics business more efficiently but talk of a takeover by Carlyle (of the logistics business) is groundless,' Hanjin said in a statement to the Korean stock exchange.

Carlyle, which is one of the most active large buy-out groups in North America and Europe, has recently expressed ambitions to increase significantly its activities in Asia. It has already made a string of investments in the region but is now building up operations, including a major presence in China.

Copyright © 2004 AltAssets