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POSCO aims to raise $2 bln by end-2015 through restructuring
July 24, 2014 / 8:06 AM / 3 years ago

POSCO aims to raise $2 bln by end-2015 through restructuring

SEOUL, July 24 (Reuters) - South Korea’s POSCO aims to raise about 2 trillion won ($1.95 billion) by the end of 2015 through restructuring efforts, the steelmaker said after reporting quarterly earnings on Thursday.

POSCO earlier promised sweeping restructuring, including selling non-core assets, after investment and acquisitions over the past four years more than doubled its debt.

POSCO also said it is helping peer ArcelorMittal SA find Korean buyers for a 10 percent stake a Canadian iron ore operation. (Reporting by Hyunjoo Jin; Editing by Christopher Cushing)

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