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KDB becomes STX PO's largest shareholderKDB becomes STX PO's largest shareholder

Korea Development Bank (KDB) is now the largest shareholder in dry bulk shipping firm STX Pan Ocean following the completion of a sale share by STX Group.

Lee Hong Liang, Asia Correspondent

October 22, 2013

1 Min Read
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Cash-strapped STX Group, which previously owned 19% stake in STX PO, now owns just 3.55% of the dry bulk shipping firm, while KDB owns 14.99%.

STX Offshore & Shipbuilding and STX Engine, affiliates of STX Group, own 8.57% stake in STX PO.

STX PO has been under rehabilitation proceedings since 17 june this year upon the decision of Seoul Central District Court.

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dry bulk shipping

About the Author

Lee Hong Liang

Asia Correspondent

Singapore-based Lee Hong Liang provides a significant boost to daily coverage of the Asian shipping markets, as well as bringing with him an in-depth specialist knowledge of the bunkering markets.

Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and had the ability to write hard news and featured stories.

 

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