The sale of a 50% stake in Korea Delphi Automotive Systems Corporation (KDAC), a privately-owned auto parts maker, will be resumed soon by the creditors of Daewoo Group, reported the Financial News Daily.
The sale of a stake in the South Korean arm of Delphi is expected to attract interest from several foreign investors, the report said, without citing a source.
The 50% stake, jointly held by Daewoo affiliates, was put up for sale in 2008, but it was suspended due to the global financial crisis.
In 2009, KDAC had sales of KRW 724 bil (U$651 mil).
Major Shareholders:
- Delphi Automotive – 50%
- Daewoo Motor Co., Ltd. – 27.24%
- S&T Daewoo Co., Ltd. – 8.94%
- Daewoo International – 7.70%
- Daewoo Shipbuilding & Marine Engineering (DSME) – 6.12%
(Sources: Financial News, Korea Information Service)
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