KDB to Pick Bidder for Daewoo

Thursday, October 09, 2008

A preferred bidder for Daewoo Shipbuilding & Marine Engineering Co. is likely to be announced later this month, reports indicate.

Korea Development Bank and a state-run asset manager are seeking to sell their 50.4 percent stake in the world's third-largest shipyard bailed out in 2000 after its parent Daewoo Group collapsed under a mountain of debt.

POSCO, Hyundai Heavy Industries Co., GS Group and Hanwha Group last month submitted preliminary bids for Daewoo Shipbuilding.

Speculation has it that KDB may cancel or delay the sale should bidders submit prices below expectations amid a flagging local stock market.

KDB wants at least $3.81b for the sale, but market capitalization of Daewoo Shipbuilding reached 4.48 trillion won as of Tuesday, a sharp drop of nearly 30 percent from its peak in October.

Source:  Pulse

Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Shipbuilding: NAT Finalizes Deal for Two New Tankers

On December 9, 2014, Nordic American Tankers Ltd. announced that preliminary contracts had been entered into with a South Korean shipyard, for the construction

Damen Outfitting First of Nine Bahamas Patrol Boats

The first of nine Damen Stan Patrol 3007s ordered by the Royal Bahamas Defense Force has arrived at Damen Shipyards Gorinchem in the Netherlands for outfitting.

Liquefaction Terminals to Dominate LNG Capital Expenditure

Capital expenditure (Capex) on global LNG facilities is expected to total $259 billion (bn) over the period 2015-2019, with investments expected to be 88% larger

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Pipelines Pod Propulsion Salvage Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0970 sec (10 req/sec)