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 June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

AVEVA, DNV GL's Sesam Integration Cuts Cost

Integration of Aveva and DNV GL's Sesam Reduces Costs in Maritime and Offshore Engineering. Engineers designing ship hulls and offshore floaters can now save

FORAN for Pertamina's Future Ships

FORAN has been chosen by state-owned company PERTAMINA to review the design of their future oil product carrier ships, under construction in a shipyard with the FORAN System.

Bestobell Bags HHI's Valve Order

Bestobell Marine, a world leading supplier of cryogenic valves for ships, has won a major new order from Hyundai Heavy Industries (HHI) in South Korea to supply valves for two new vessels.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Port Authority Ship Electronics Winch
rss | archive | history | articles | privacy | 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: 0.1024 sec (10 req/sec)