• Most Popular
  • Most Shared

S.Korea Dongkuk to request delay of builder buyout

Mon Dec 1, 2008 9:10pm EST

Stocks

   

SEOUL, Dec 2 (Reuters) - South Korea's third-largest steel maker Dongkuk Steel Mill (001230.KS) said on Tuesday it would ask Korea Asset Management Corp (KAMCO) to delay the sale of a small domestic builder it had agreed to buy earlier this year.

Dongkuk said in a filing to the Korea Exchange that it would submit to state debt clearer KAMCO a revised proposal delaying a planned buyout of Ssangyong Engineering & Construction (012650.KQ) by a consortium led by Dongkuk for at least one year. (Reporting by Cheon Jong-woo; Editing by Jonathan Hopfner)



More from Reuters

Photo

Senate on track to pass healthcare bill

WASHINGTON (Reuters) - Senate Democrats moved closer on Monday to passing landmark healthcare legislation by Christmas after scoring a win in the first big test vote and gaining the support of a powerful lobbying group for doctors. | Video

» More Top News
Photo

Political risk clouds Asia

The economic outlook is strong, but the danger of a sudden correction hangs over Asian markets - as political risks could turn sunshine to storm clouds in the blink of an eye.  Full Article 

Global Markets
Two men shake hands in a file photo. REUTERS/File

Let's make a deal

The battered M&A sector will make a tepid recovery in the coming year and three hot sectors will lead the way, according to a Thomson Reuters analysis.  Full Article 

Global Deals Review