KCC reduces stake in Hyundai Heavy via $601 million block

As the first major block trade in Asia, the deal sends a positive message about investor appetite to other potential sellers, although investors are expected to stay selective as the market environment remains uncertain.
January 13, 2012

Korean construction materials manufacturer KCC Corp raised W697.2 billion ($601 million) last night through the sale of a 3% stake in Hyundai Heavy Industries, the world’s biggest shipbuilder.

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