POSCO, the preferred bidder in the sale of Daewoo International, will likely sign on a final contract on 30 August, reported Money Today.
The report cited several sources close the situation as saying that the Public Fund Oversight Committee has held a provisional meeting to approve the terms of the sale to Posco.
The committee will call for a formal meeting on 30 August to approve the sale and plans to sign the final contract that day. The sale price is about KRW 3.3tn (USD 2.77bn), the item said.
As reported, Posco was selected as the preferred bidder for a 68.1% stake in Daewoo International, the listed South Korean wholesaler.
Source: Money Today (translated)
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