Hyundai Merchant Marine to sell $580 mln stake in stock brokerage to Orix

June 12, 2015 8:43 AM

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SEOUL, June 12 South Korea's Hyundai Merchant Marine Co Ltd (HMM) will sell a major stake in stock brokerage Hyundai Securities Co Ltd for 647 billion won ($579.84 million) to a special purpose company set up by Japan's Orix Corp, an HMM spokesman said on Friday.

Hyundai Merchant Marine will sell its entire 22.4 percent stake in the stock brokerage to the special purpose company, HMM said in a separate regulatory filing earlier on Friday.

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