Entekhab Industrial Group has requested creditors of Daewoo Electronics to extend the due diligence period by two weeks, reported Money Today.
The unsourced report said that the Iran-based household electronic appliance maker has requested the extra time for additional inspection of its unlisted Korean peer.
Following this development, the anticipated signing of a formal contact would be delayed to August, the report added.
As previously reported, Entekhab Industrial offered KRW 570bn (USD 470m) for the company, and was selected as a preferred bidder.
Source: Money Today
No related posts.
