Twenty-one firms are interested in buying part or all of Korean-government-owned Daewoo Heavy & Machinery, an official of the agency in charge of the sale announced last week. Terex, Deere and Linde AG, a German company, are among the potential buyers. Six of the companies that expressed interest in the firm wanted to buy only Daewoo Heavy’s defense business, which could be sold separately from other operations. Government-run Korean Asset Management Corp. and Korea Development Bank own 57 percent of Daewoo Heavy. The asset management group says it will pick one or two primary negotiating partners in May.
21 companies vying for Daewoo Heavy
March 29, 2004