Korean Newspaper Money Today reported that Dongkuk Steel Mill, the listed South Korean steel maker, would seriously consider joining Korea Development Bank (KDB) in the acquisition of Daewoo E&C, citing Dongkuk president Jang Se-joo, who also added that the company was yet to receive KDB’s proposal.
According to an earlier report, KDB was looking to join hands with Dongkuk Steel Mill and Posco, to bid for a 50% stake in Daewoo E&C.
For a review of the story so far, see Daewoo E&C sold to Korea Development Bank, KDB seeks partner for committed relationship.
For the source article in Korean see here.
(Source: Money Today)
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