KDB Investment "No Progress on Daewoo Construction Sale"

[Asia Economy Reporter Park Sun-mi] Amid spreading rumors of the sale of Daewoo Construction in the financial investment industry, KDB Investment, the largest shareholder of Daewoo Construction, has denied any progress related to the sale.

On the 11th, KDB Investment stated, "We have not received any specific proposals or have any ongoing matters regarding the sale of Daewoo Construction shares," and added, "We ask for caution in reporting."

In the market, reports are spreading that Daewoo Construction, which has improved its performance, is back on the market after about three years, and a domestic private equity fund (PEF) is actively pursuing acquisition. It was reported that KDB Investment, the largest shareholder of Daewoo Construction, is discussing selling all of its shares (50.75%), including management rights, to a domestic PEF operator.

In response, KDB Investment clearly stated in a press release that there are no ongoing matters related to the sale of Daewoo Construction shares. An industry insider also denied the possibility, saying, "It is not a matter where KDB Investment can sell its shares through a private contract (a contract made by selecting a counterparty arbitrarily without competitive bidding)," and that the plan to sell Daewoo Construction shares to a domestic PEF operator is unrealistic.

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