Reuters reported that POSCO may be able to join a fresh bidding for Daewoo Shipbuilding & Marine Engineering if a prime bidder is not chosen later this week.
Mr Min Euoo sung chairman of Korea Development Bank said that two local companies, Hyundai Heavy Industries and Hanwha Group, have made bids for a controlling stake in Daewoo Shipbuilding now up for sale. Legal reviews show that POSCO can bid again if the current bidding process fails to pick a preferred suitor."
He, however, said that KDB will be able to pick a preferred bidder around Friday or Saturday if there is no problem. The state run policy bank on Thursday disqualified POSCO as a potential buyer for DSME taking issue with its qualifications. POSCO formed a consortium with GS Group, an energy and construction conglomerate, to make a joint bid for the controlling stake but the group backed out at an the eleventh hour, rendering the steel giant ineligible.
Some market analysts estimate the value of the stake at over USD 5 billion.
Mr Min Euoo sung chairman of Korea Development Bank said that two local companies, Hyundai Heavy Industries and Hanwha Group, have made bids for a controlling stake in Daewoo Shipbuilding now up for sale. Legal reviews show that POSCO can bid again if the current bidding process fails to pick a preferred suitor."
He, however, said that KDB will be able to pick a preferred bidder around Friday or Saturday if there is no problem. The state run policy bank on Thursday disqualified POSCO as a potential buyer for DSME taking issue with its qualifications. POSCO formed a consortium with GS Group, an energy and construction conglomerate, to make a joint bid for the controlling stake but the group backed out at an the eleventh hour, rendering the steel giant ineligible.
Some market analysts estimate the value of the stake at over USD 5 billion.