Hanjin sells some assets to Korea Line for 37b won

Hong Kong

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 (S$44.8 million), a court overseeing the container line's bankruptcy filing said late on Monday. Hanjin shares jumped.

The surprise winning bidder for Hanjin's Asia-US business is expected to hold separate talks to buy optional assets including Hanjin's 54 per cent stake in a port terminal in Long Beach, California, a spokesman for the Seoul Central District Court said.