Reports say Zim’s Ofer has raised stake in Hanjin
Hanjin Shipping is the center of takeover speculation after Israeli tycoon Sami Ofer, who has a controlling interest in Zim Integrated Shipping Services Ltd. through the Israel Corp., raised his stake in the Korean company.
Various media reports suggest that Citigroup, on behalf of Ofer, purchased an 8.7 percent stake in Hanjin for 154.5 billion won ($161 million), from Norwegian shipping magnate John Fredriksen’s Geveran Trading Co.
The deal represents Geveran’s entire interest in Hanjin.
Hanjin’s shares Thursday surged by as much as 9.1 percent in early morning trading before closing at 24,500 won ($25.57), up 5.61 percent from the previous day.
Reports say Zim’s Ofer has raised stake in Hanjin
