The sale of South Korea’s largest liner company HMM to Harim Group, the country’s largest poultry processor, has collapsed.

Local news sources reported on Wednesday that sales discussions between Korea State Development Bank (KDB) and Korea Ocean Business Corp (KOBC) — both state agencies with significant shareholdings in HMM — and Harim, along with its private equity partner JKL Partners, have fallen through due to “differences over certain issues”.