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Petronas, Aramco mull Daewoo E&C acquisition; deal to fetch $1.87 billion

The 50.75 percent Daewoo E&C stake is being put up for sale by state-owned Korea Development Bank

Reuters  |  Seoul 

Oil firms Petronas and Aramco are among potential suitors for a controlling stake in Daewoo Engineering & Construction Co, a deal that could fetch around 2 trillion won ($1.78 billion), South Korea's Maeil Business Newspaper said on Friday. The 50.75 percent Daewoo E&C stake is being put up for sale by state-owned Korea Development Bank (KDB), which in July said BoA Merrill Lynch and Mirae Asset Daewoo Securities have been appointed as its advisers on the deal. The stake was valued at 1.48 trillion won as of Thursday's closing price. Malaysian oil company Petroliam ...

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First Published: Fri, September 01 2017. 12:37 IST
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