Sale Eyed for Daewoo Shipbuilding

Thursday, December 22, 2005
According to Reuters, South Korea aims to sell a controlling stake in Daewoo Shipbuilding and Marine Engineering, currently valued at 2.5 trillion won ($2.5 billion), in the second half of 2006, a lead creditor said on Wednesday. State-run Korea Development Bank (KDB) and government restructuring agency KAMCO own a combined 50.6 percent stake in the world's second-biggest shipbuilder. The market has been awaiting news of the sale process, along with developments on upcoming deals to sell controlling stakes in Korea Exchange Bank and LG Card Co. Ltd. KDB was also in the process of selecting a legal adviser and an accounting firm to begin the sale process of top local credit card issuer LG Card, Kim said. KDB, which is managing the sale on behalf of other creditors, has recently named JP Morgan as a lead manager for the deal. Shares in Daewoo Shipbuilding gained 2.01 percent to close at 25,400 won, while LG Card dipped 0.51 percent to 48,900 won. The broader index ended up 0.98 percent.
Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Navios Announces VLCC Delivery

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, has announced that the Nave Electron, a 2002-built VLCC of 305,178 dwt, was delivered

VIDEO: HMS Queen Elizabeth Floats Out

A timelapse video of HMS Queen Elizabeth floating out of her dock for the first time is now available at http://www.youtube.com/watch?v=P0ZjQz9vEKw. The float out of the 65,

GE, LR Study Gas Turbines for Commercial Ships

GE Marine and Lloyd’s Register Sign Memorandum of Understanding to Collaborate on Applying Gas Turbines to Power Commercial Ships GE Marine and Lloyd’s Register

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
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: 0.0754 sec (13 req/sec)