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Friday, September 30, 2016

Dongkuk Seeks Consortium to buy Daewoo Shipbuilding

January 8, 2008

South Korea's Dongkuk Steel seeks a consortium with other steel makers to buy Daewoo Shipbuilding and Marine Engineering, which has a market value of $9.4 billion. State-run Korea Development Bank and restructuring agency Kamco jointly own half the shipbuilder, a former unit of the bankrupt Daewoo Group. They are expected to put up their stake for sale this year. South Korean steel makers, including POSCO (PKX) (005490.KS: Quote, Profile, Research), the world's fourth-largest steel maker, have said that they are interested in buying the shipbuilder but the high premium for the company could be a problem.


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