Woori Bank has chosen Iran-based Entekhab Industrial Group as a preferred bidder in the sale of Daewoo Electronics, the unlisted South Korean household electronic appliance maker, according to an Woori Bank press release.
The Woori Bank-led creditors group will soon sign a memorandum of understanding with Entekhab Industrial Group and finalize the deal by the end of July at the earliest, the release said.
Sweden-based Electrolux AB will remain in the sale as a secondary priority bidder, it said.
An Edaily news report, stated that Entekhab’s offer price was around the KRW 600bn (U$536m) mark.
For more information and links to previous stories regarding the sale of Daewoo Electronics, see the previous post “Electrolux and Entekhab Industrial make offers for Daewoo Electronics“.
(Sources: Woori Bank, Edaily)
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