POSCO is likely to finish its due diligence on Daewoo International this week, Asia Economy reported yesterday.
The report cited a Daewoo insider, who said the inspection team from POSCO recently finished a review on Daewoo International’s overseas subsidiaries and Q-and-A sessions with key workers.
As reported earlier, South Korean steel maker POSCO was selected as the preferred bidder for a 68% stake in Daewoo International. The stake is held by creditors, including KAMCO.
According to the earlier report, Posco offered KRW 3.4tn (USD 2.87bn) for the stake.
Source: Asia Economy (translated)
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