A sudden jump in K-Line stocks being bought by investment fund Effissimo Capital has raised suspicions that the shipping company may have a new contender for a take-over, reported JOC.com.
Reports that the K-Line shareholders had made a recent purchase of 37% percent of stock were neither confirmed nor denied by shipping company representatives.
With the current state of the shipping industry, many companies are opting for mergers or takeovers; K-Line is already part of the CKYHE alliance which once included the doomed Hanjin Shipping.
Rumours have been circulating about a K-Line takeover for a while, with PTI reporting that there were talks of a takeover by shipping giant Maersk Line.
K-Line had suffered a US$262.15 million loss in H1, 2016, and with the downturn in the shipping industry not expected to improve in the next two years, a take-over could be planned to save the company from suffering the same fate as Hanjin.
