LAWFUEL – Business + Law News – Skadden is representing Korean Air Lines Co., Ltd. and Hanjin Shipping Co., Ltd. in Hanjin Energy Co.’s US$2.5 billion acquisition of an approximately 28% stake in S-Oil Corporation, the third-largest oil refinery in South Korea. Hanjin Energy is a special purpose entity formed by Korean Air Lines, Hanjin Shipping and Korea Airport Service Co., Ltd., which are all affiliates of the Hanjin Group of South Korea.
In connection with this acquisition, Hanjin Energy entered into a shareholders’ arrangement with Saudi Arabian Oil Company to jointly manage S-Oil Corporation.
