Reuters logo
POSCO decides against buying Dongbu's steel, power units
June 24, 2014 / 6:41 AM / 3 years ago

POSCO decides against buying Dongbu's steel, power units

SEOUL, June 24 (Reuters) - South Korean steelmaker POSCO said on Tuesday that it will not buy two of the units of the cash-strapped Dongbu Group conglomerate, citing financial burdens and price differences.

Korea Development Bank, Dongbu’s main creditor, offered to sell Dongbu Incheon Steel and Dongbu Power Dangjin to POSCO in a package deal expected to be worth about 900 billion Korean won ($884.26 million), a source with direct knowledge of the matter told Reuters, declining to be identified as he was not authorized to speak to the media. (Reporting by Hyunjoo Jin; Editing by Matt Driskill)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below