Korea Line Corp., the nation’s second-largest bulk carrier, signed an agreement to buy some of the assets of the failed Hanjin Shipping Co. for 37 billion won ($31 million), a court overseeing the container line’s bankruptcy filing said Nov. 21. Hanjin shares jumped.
The surprise winning bidder for Hanjin’s Asia-U.S. business is expected to hold separate talks to buy optional assets including Hanjin’s 54 percent stake in a port terminal in Long Beach, California, a spokesman for the Seoul Central District Court said in a text message.
The sale caps more than two months of turmoil triggered by Hanjin’s bankruptcy ...
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