POSCO and Lotte, the potential buyers of Daewoo International, are about to start due diligence on the listed South Korean wholesaler, reported Money Today.
The report, which cited industrial sources, claimed POSCO and the sell-side held an initial meeting for the inspection last Tuesday and a meeting for Lotte is scheduled today.
The contenders are expected to finish due diligence around the end of April, the report added.
According to other sources, the bidders are not expected to find any surprises during the due diligence process, as they are already familiar with the asset.
As reported earlier, POSCO, Lotte, and Jinhan Global consortium submitted bids after the state-run Korea Asset Management announced it would sell a stake of 50% plus one share in the listed Daewoo International through an auction.
See here for all previous posts on the sale.
(Source: Money Today)
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