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Four Buyers Bid In Daewoo Deal
Wednesday, 27-Aug-2008 8:14AM United Press International
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SEOUL, Aug. 27 (UPI) -- Four major suitors have bid for a majority share of South Korea's Daewoo Shipbuilding in a deal possibly worth $6.5 billion, company officials say.

SAVE MONEY ON TRAVEL DEALS

Among those seeking 50.4 percent of the company are Hyundai Heavy Industries, which runs the world's biggest shipyard, and POSCO, the world's fourth-largest steelmaker, Yonhap news agency reported Wednesday in Seoul.

The state-run Korea Development Bank, which is arranging the sale, says it hopes to complete the deal by the end of the year.

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