Korea Asset Management Corp (KAMCO) has likely put off the sale of Ssangyong Engineering and Construction (E&C), the listed South Korean construction company, to the second half of the year, Financial News Daily reported.
The report cited an unspecified M&A source, who stated that the Korean state-owned fund manager decided to sell its stake in Ssangyong during that time frame.
KAMCO holds a 50.07% stake in the company.
According to their website, KAMCO’s role is:
- Management and Operation of Non-performing Assets Fund
- Acquisition and Resolution of NPAs from financial institutions
- Implementing Work-out programs for Distressed Companies
- Management of Government Owned Properties and Resolution of Tax Arrears
- Supporting the Recovery of Consumer Credit
(Source: Financial News Daily, KAMCO website)
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