Korea Development Bank fund to buy Daewoo E&C

Chris Sleight

11 May 2010

The state-owned Korea Development Bank (KDB) has announced plans to buy a controlling stake in Daewoo Engineering & Construction for KRW 2.9 trillion (US$ 2.6 billion).

The buy-out via a new private equity fund is designed to help restructure the troubled Kumho Asiana Group, which currently owns a controlling stake…

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