Kumho Edges Closer to Sale of Daewoo Engineering
Reports out of Seoul, South Korea say that the country’s financial regulators have approved a deal where Korea Development Bank will acquire controlling interest in Daewoo Engineering & Construction Co. from Kumho. The transaction for a nearly 40 per cent share of the construction firm was put at $2.93 billion. There was no word when the deal might close. (Tire Review)
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