Korea Development Bank (KDB) is planning to borrow as much as KRW 1tn (USD 835m) for the acquisition of a 50% stake in Daewoo Engineering & Construction, the Seoul Economic Daily reported.
The unsourced report claimed that the state-run bank has decided to borrow 30-40% of the acquisition fund from investors through a special purpose company that it will establish for the potential funding.
As previously reported, KDB is preparing financing for the acquisition of the stake in the listed South Korean construction company from Kumho Asiana.
Source: Seoul Economic Daily (translated)
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