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Sale of PAN-Ocean Ltd.

Shin & Kim represented PAN-OCEAN, a company under rehabilitation (reorganization) proceedings, in its issuance of shares to transfer control over itself. PAN-OCEAN is the largest bulk carrier in Korea.  This transaction represented the largest M&A transaction in 2015 involving a company under rehabilitation proceedings. 

HarimGroup-JKL Consortium will be the largest shareholder of PAN OCEAN by purchasing new shares (above 50%) for KRW 850 billion.  In addition, HarimGroup-JKL Consortium acquired corporate bonds issued by PAN OCEAN.

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