POSCO CEO says considering stake sale, "all possibilities" for Daewoo International

SEOUL Mon May 19, 2014 4:05am EDT

SEOUL May 19 (Reuters) - South Korean steelmaker POSCO said on Monday it was looking at "all possibilities", including a stake sale, for its trading and resources arm Daewoo International Corp as part of its restructuring efforts.

"We are looking at various possibilities regarding Daewoo International. Nothing has been decided yet," POSCO Chairman and Chief Executive Kwon Oh-joon told reporters.

POSCO, the world's fifth-biggest steelmaker, holds a 60 percent stake in Daewoo, which it bought in 2010 for 3.37 trillion won ($3.26 billion). (Reporting by Hyunjoo Jin and Sohee Kim; Editing by Miral Fahmy)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.