Hyundai Elevator, the listed South Korean lift system manufacturing unit of Hyundai Group, announced yesterday that it will bid for Hyundai Engineering and Construction, the listed South Korean construction company.
This information was disclosed via Hyundai Elevator’s stock exchange statement, reported the Korea Economic Daily.
As reported earlier, creditors including Korea Exchange Bank, Korea Finance Corp and Woori Bank are planning to put their combined 35% stake in Hyundai Engineering & Construction up for sale.
Source: Korea Economic Daily (translated)
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