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)