ID :
82259
Tue, 09/29/2009 - 13:09
Auther :
Shortlink :
https://www.oananews.org//node/82259
The shortlink copeid
Hyundai Heavy picked as preferred bidder for trading firm
SEOUL, Sept. 29 (Yonhap) -- Hyundai Heavy Industries Co., the world's biggest shipbuilder, has been chosen as the preferred bidder for Hyundai Corp., the South Korean trading company's main creditor said Tuesday.
In May this year, Hyundai Heavy submitted its bid to acquire Hyundai Corp., but
the deal failed due to differences over price.
Korea Exchange Bank has said Hyundai Corp. will be able to enjoy financial
stability if it is taken over by Hyundai Heavy.
Analysts said the purchase price to buy 50 percent plus one share of Hyundai Corp.
may be set at about 250 billion won (US$210.9 million).
sam@yna.co.kr
(END)
In May this year, Hyundai Heavy submitted its bid to acquire Hyundai Corp., but
the deal failed due to differences over price.
Korea Exchange Bank has said Hyundai Corp. will be able to enjoy financial
stability if it is taken over by Hyundai Heavy.
Analysts said the purchase price to buy 50 percent plus one share of Hyundai Corp.
may be set at about 250 billion won (US$210.9 million).
sam@yna.co.kr
(END)
