[Featured Stock] Daewoo E&C Rises on Expectations of Sale 추진
[Asia Economy Reporter Lee Seon-ae] Daewoo E&C is showing strong performance following news of its sale promotion on the 11th.
As of 9:15 AM on the same day, Daewoo E&C is trading at 5,880 KRW, up 5.19% compared to the previous day.
On this day, a media outlet cited the investment banking (IB) industry, reporting that KDB Investment, a subsidiary of the Korea Development Bank (KDB), the largest shareholder of Daewoo E&C, is discussing a plan to sell all its shares, including management rights of Daewoo E&C, to a domestic private equity fund (PEF). This PEF is pushing to form a consortium with strategic investors (SI). The sale target is the 50.75% stake held by KDB Investment.
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Although Daewoo E&C's corporate value declined after two failed mergers and acquisitions (M&A) attempts, recent improved performance has led to views that it is an opportune time for acquisition.
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