Korea Development Bank (KDB) is likely planning to acquire Daewoo Engineering and Construction (Daewoo E&C) by itself, without partnering with any financial investors, the Seoul Economic Daily reported.
The report cited industry sources as saying that financial investors which KDB has contacted so far have shown reluctance to the potential investment, and now the state-run bank is planning to acquire the stake in Daewoo E&C on its own.
At the same time, KDB is considering selling some stake in Daewoo E&C after the South Korean construction industry recovers.
As reported, KDB has been preparing financing for an acquisition of a stake of 50% plus one share in the listed South Korean construction company from Kumho Asiana.
Source: Seoul Economic Daily (translated)
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