RPT-SK Group considers joining POSCO in Daewoo bid
South Korea's SK Group said on Tuesday it is considering joining a consortium with steelmaker POSCO for a major stake in world No. 3 shipyard Daewoo Shipbuilding & Marine Engineering.
"We are still considering. There are multiple stages we need to take before making a decision," said Kim Ju-hyun, spokesman at SK Group, which oversees SK Energy , the country's top refiner.
Kim was referring to an earlier report by local media that SK Group would invest less than 100 billion won ($89.62 million) in the consortium, an insignificant amount compared with the Daewoo deal that is estimated at $8 billion.
Last month, the cash-rich POSCO and Hyundai Heavy officially expressed interest in the shipbuilder, while energy and construction-focused GS Group and Hanwha Group, also handed in letters of intent to buy Daewoo.
POSCO had said earlier it is seeking shipping companies and energy firms to join the consortium, expecting such participation would increase its chances in the bidding.
"We are still considering. There are multiple stages we need to take before making a decision," said Kim Ju-hyun, spokesman at SK Group, which oversees SK Energy , the country's top refiner.
Kim was referring to an earlier report by local media that SK Group would invest less than 100 billion won ($89.62 million) in the consortium, an insignificant amount compared with the Daewoo deal that is estimated at $8 billion.
Last month, the cash-rich POSCO and Hyundai Heavy officially expressed interest in the shipbuilder, while energy and construction-focused GS Group and Hanwha Group, also handed in letters of intent to buy Daewoo.
POSCO had said earlier it is seeking shipping companies and energy firms to join the consortium, expecting such participation would increase its chances in the bidding.