Two stories from the Maeil Business News -
Daewoo E&C Sale by Kumho Asiana Facing Impasse
- Kumho Asiana had originally scheduled to receive a letter of commitment (LOC) by December 4 from the Jabez Partners and TR America bidding consortiums respectively. But the two firms are said to have not submitted their LOC before the deadline and need addition time to perform their due diligence.
- KDB is said to have reviewing a plan to buy Daewoo E&C through internally launching a private equity fund.
GS Group to Sell Mart, Department Businesses
- GS Group has recently reached a final decision to sell its 14 GS Marts and 3 GS Department Stores, but are keeping their convenience and supermarket stores.
- They have selected Barclays Capital as the lead manager for the sale.
- GS Group and Barclays Capital will begin its search for prospective buyers beginning next week, and are planning to select preferred bidders by January , and complete the sales process by February 2010.
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