DSME may be put on sale next month
The world's third-largest shipbuilder, Daewoo Shipbuilding & Marine Engineering Co. (DSME), may be put on sale before the end of next week, the Yonhap news agency reported, citing industry sources.
Korea Development Bank (KDB) recently completed its due diligence on DSME. State-run KDB and Korea Asset Management Corp. are seeking to sell off a combined 50.37 per cent stake in DSME.
South Korean conglomerates Hanwha Group, Hyundai Heavy Industries, STX Corp., steel giants POSCO and Dongkuk Steel, GS Group and Doosan Group are said to be in the running for the controlling stake in the shipbuilder.
Foreign firms will not be allowed to acquire the shipbuilder, which is also building warships and submarines for the government.