Independent journal on economy and transport policy
19:33 GMT+2
Korea Heavy rejects offers on plants
(Shipping Times)
December 17, 1998
[SEOUL]
Korea Heavy Industries & Construction Co has rejected an offer by creditors of Samsung and Hyundai groups that would allow it to acquire their power generation equipment and ship engine businesses.
State-owned Korea Heavy, Korea's biggest maker of power generators, said it would accept the swap only if the creditor banks promised to provide 700 ...... Read more on Shipping Times
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