Bankers Abort Dsme Sale Pending Economic Recovery

摘要

Korea Development Bank (KDB) has indicated that it will recommence moves to privatise Daewoo Shipbuilding & Marine Engineering (DSME) - following the cancellation of a planned USD4.6 billion sale to Hanwha Group - when market conditions are more favourable.rnYoung-Eun Ban, senior project manager in KDB's mergers and acquisitions department, told Jane's: "The shipbuilding industry is depressed and the global economic situation is not bright.rn"It will take some time for the industry to turn around so that we can restart the sale. It is difficult to predict, but we are not looking to sell DSME at this time."rnHe said that the decision to abort the sale to Hanwha, which was announced in late January, was made after the prospective purchaser requested to pay for state-owned DSME through instalments. "Hanwha made some requests that we could not accept," Young-Eun said.