Creditors of Daewoo Electronics are likely to finalize the sale of the South Korean appliance maker to Entekhab Industrial as early as next week, reported the Korea Herald.
The report cited financial sector sources as saying that the creditors group is expected to hold a meeting to approve the sale next week. The deal value could be about KRW 100bn less than Entekhab’s initial offer of KRW 605bn (USD 508m), it added.
As reported, Woori Bank and other creditors selected Entekhab Industrial Group, the Iran-based electronic appliance maker, as the preferred bidder in the sale of Daewoo.
Source: Korea Herald (translated)
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