STX’s potential acquisition of Daewoo Engineering and Construction (Daewoo E&C) is in the initial stages of review, the Seoul Economic Daily reported citing STX Chairman Kang Duk-Soo.
STX, the listed South Korean shipbuilder, has no detailed plan regarding the acquisition and has not held any discussion concerning Daewoo E&C with Min Yoo-Sung, the chief executive officer of Daewoo E&C creditor Korea Development Bank, Duk-Soo told the paper.
Previously, it was reported that an STX official confirmed interest in Daewoo E&C, stating -
“It is true that we are reviewing the bidding process for Daewoo Engineering & Construction,” said an STX official, acknowledging that the group has asked Kumho Asiana’s main creditor, the state-run Korea Development Bank, about the bidding schedule.
“But no decisions have been made yet as to whether we will actually file a bid,” the official said.
See ‘Daewoo E&C Update: KDB plans to start acquisition financing next month; STX confirms interest‘ for more information, and links to previous reports.
(Source: Seoul Economic Daily)
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