The state-run Korea Development Bank (KBD) is reportedly having discussions with several local and overseas companies in a bid to jointly buy Daewoo Engineering & Construction Co., a construction unit of Kumho Asiana Group, which is going through a debt rescheduling program, the bank head said Tuesday.
"Several companies, including domestic and foreign firms, have shown interest in the plan," Min Euoo-sung, the governor of KDB, told local media.
According to local Yonhap News Agency, the bank is also considering taking over a higher share than the 50 percent stake plus one stock as
previously determined, Min said.
On Dec. 30, KDB announced that it will purchase the controlling stake for 18,000 won (15.8 U.S. dollars) per share from its owner Kumho Asiana
Group after the conglomerate failed to sell the company.
The group pushed for the sale of the builder, selecting two foreign funds, Jabez Partners and TR America Consortium, as preferred bidders in
late November, but the move ended in vain due to the bidders'funding difficulties.
KDB had been working as a main arranger for the sale of Daewoo Engineering before it dropped the role in late November.
Kumho Asiana, which bought a 72.11 percent stake in the builder in June 2006, tried to sell it amid liquidity squeeze triggered by a global
financial downturn.