The creditors of Daewoo Electronics are in the final stages of negotiation to sell the company to Entekhab Industrial, the preferred bidder, reported Newsis.
The report cited industry sources as saying the two parties have agreed to narrow the gap between the creditors’ price expectations and the bid on offer, and have also set 10 August as the negotiation deadline.
The report added that they will try to sign a final agreement by 24 August.
According to an earlier report, the Iran-based electronic appliance maker made an initial offer of KRW 605bn (USD 503m) to buy its unlisted South Korean peer.
Source: Newsis (translated)
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