News
Three firms vie for DSME
The countdown for the takeover of Daewoo Shipbuilding and Marine Engineering (DSME), the world's third-largest shipbuilder, has started with reports that three companies have shown interest in the acquisition.
Korea Development Bank and Korea Asset Management Corp plan to invite bids for the sale of a combined 50.4-per cent stake in the shipyard on Friday, valued at least $5.73 billion (Dh21bn).
Posco is said to be one of the firms interested in the acquisition. GS Group and Hanhwa Group have also shown interest.
Although silent over a possible acquisition, Samsung and STX are speculated to make a bid for their rival shipbuilder. DSME has received contracts for new builds worth $11.4bn since the beginning of the year, reaching 71 per cent of its orderbook target for 2008.
Kuwait Ocean Tanker Company recently signed a contract to with DSME to buy four Very Large Crude Carriers (VLCCs) at a record high cost of $177 million per carrier. All four vessels will be delivered in 2012.
Korea Development Bank and Korea Asset Management Corp plan to invite bids for the sale of a combined 50.4-per cent stake in the shipyard on Friday, valued at least $5.73 billion (Dh21bn).
Posco is said to be one of the firms interested in the acquisition. GS Group and Hanhwa Group have also shown interest.
Although silent over a possible acquisition, Samsung and STX are speculated to make a bid for their rival shipbuilder. DSME has received contracts for new builds worth $11.4bn since the beginning of the year, reaching 71 per cent of its orderbook target for 2008.
Kuwait Ocean Tanker Company recently signed a contract to with DSME to buy four Very Large Crude Carriers (VLCCs) at a record high cost of $177 million per carrier. All four vessels will be delivered in 2012.