KDB digs into Kumho
South Korea’s state-owned Korean Development Bank (KDB), will take a 50 % plus 1 share stake in Daewoo Engineering and Construction Co., for KRW2.9 trillion ($2.5 billion) through its private equity fund, under the workout program for the distressed Kumho Asiana Group.
Kumho, South Korea’s ninth largest chaebol, which has run into severe liquidity trouble. Dongkok Steel Mill Co., Ltd, a local steel major, was said to be partnering with KDB on the deal. One of the...
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