Korea Development Bank (KDB) will likely line up investors in April, for its anticipated acquisition of Daewoo Engineering and Construction (Daewoo E&C), reported Yonhap News.
The report cited an unspecified insider at the state-run bank as saying it is conducting due diligence at the moment.
Another insider was quoted as saying it is also possible that KDB would acquire the construction company first with financial investors and sell the stake to strategic investors sometime later.
As reported, KDB had completed negotiations with put back option holders in Daewoo E&C to acquire a 50% stake in the listed South Korean construction company from Kumho Industrial, a division of Kumho Asiana.
See here for all posts on the sale.
(Source: Yonhap News)
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