POSCO most interested in Daewoo International, yet still watching sale of Daewoo Shipbuilding and Marine Engineering, according to reports.
Reuters reported here that -
POSCO sees Daewoo International at the top of its list of potential takeover targets, its CEO said on Thursday.
“We’re most interested in taking over Daewoo International given the expected synergy effect compared with Daewoo Shipbuilding and Daewoo Engineering & Construction,” POSCO Chief Executive Chung Joon-yang told a forum held at the stock exchange.
While, The Korea Economic Daily, reported (Korean) that POSCO is interested in buying Daewoo Shipbuilding and Marine Engineering. Again citing POSCO CEO Jung Joon-yang.
According to the report, Jung said in an interview that the listed South Korean steel maker would assess the potential acquisition once Daewoo Shipbuilding and Marine Engineering is up for sale.
For previous reports see ‘POSCO sets aside KRW 5 trillion for M&A‘ and ‘35% Daewoo International stake to go on sale‘.
(Sources: Reuters, Korea Economic Daily)
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