포스코, 자본금 확보 위해 닛폰제철(일본제철) 지분 4,670억 원 매각

[홀랜]

(Posco)

Posco Holdings, the holding company of South Korean steel giant Posco Group, announced Wednesday it will fully divest its shares in Nippon Steel while maintaining the strong partnership between the two steelmakers.

In its business report, Posco classified its 467 billion won ($321 million) stake in Nippon Steel as assets held for sale. The company has not yet determined the timing or method of the sale.

"We have decided to sell our long-term investment securities in Nippon Steel," Posco stated in the report, noting that the decision was reached through mutual consultation as part of a value enhancement strategy, which includes securing cash.

The move follows Nippon Steel’s decision last September to offload its entire stake in Posco Holdings, valued at approximately 1.1 trillion won, as it pursued a $14.9 billion takeover of US Steel.

The relationship between Posco and Nippon Steel traces back to 1968, when the Japanese firm provided technical and financial assistance for constructing the Pohang Steelworks. To bolster their alliance, both companies acquired stakes in each other in the early 2000s.

"Both companies initially acquired mutual stakes as a safeguard against hostile takeovers," a Posco official explained. "However, as this protection is no longer needed, we have agreed to move forward with the sale, though our strategic partnership remains intact."

minmin@heraldcorp.com