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DSME sale saga drags on

DSME sale saga drags on

Seoul: The Korean Development Bank has promised to come up with a solution to the stalled sale of a 50.4% stake in the world's third largest shipbuilder early this week. Korean conglomerate Hanwa Group had been selected by the state bank to buy up the stake for around $5bn but as the full effect of the global credit crunch hit home Hanwa moved to try and pay in installments, something that was not in the KDB's initial sale terms. The bank said late Friday it would attempt to solve the situation this week.  [19/01/08]

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