Independent journal on economy and transport policy
05:30 GMT+2
Daewoo will sell its shipbuilding arms
(Shipping Times)
August 9, 1999
KOREA'S giant conglomerate Daewoo is to sell 20 of its 22 affiliates, including its shipbuilding concerns, as part of a huge restructuring programme designed to pay off a massive US$50 billion ($83.7 billion) debt.
The company, which has already put up US$8.3 billion in collateral to stave off banks calling for loans to be repaid, will use the proceeds from ...... Read more on Shipping Times
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