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DSME auction back on later this year

Seoul: Korea Asset Management Corp (KAMCO), a state debt clearer, said on Tuesday it would consider the best time later this year to sell a stake in Daewoo Shipbuilding and an energy developer.
The planned sale of Daewoo Shipbuilding & Marine Engineering, estimated to have fetched $5 billion, fell through in January due to a dispute over financing terms with South Korea's Hanwha Group.
Hanwha had been picked as the buyer of a 50.4 percent stake in the world's No.3 shipbuilder, which was owned by state-run Korea Development Bank (KDB) and KAMCO.
'In consultations with KDB, we will review the timing of the sale in the second half of 2009,' the debt agency said in a policy report to parliament. [15/04/09]


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