Yonhap News reports, that four letters of intent have been submitted, to buy a controlling stake in Daewoo International.
The group includes POSCO, the country’s top steelmaker, Lotte Group, a major local conglomerate, and a consortium led by Daewoo Partners, a private equity fund.
Daewoo Partners Consortium was set up by a former Daewoo executive officer, Kim Woo-Il, and an unnamed US-based fund and other financial institutions participated as a financial investor, a separate item in Yonhap News said, citing Kim.
The fourth potential buyer is an unidentified company, the sources said.
See here for previous reports on the sale.
(Source: Yonhap News)
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