Help Desk -
9958816305, 9810335381

South Korea’s FTC Approves KG Group's Takeover of Dongbu Steel

Steel News - Published on Thu, 11 Jul 2019

Image Source:
Yonhap reported that South Korea's corporate watchdog, the Fair Trade Commission, has approved the takeover of Dongbu Steel Co., South Korea's fifth-largest steelmaker by sales, by a KG Group-led consortium.

Last month, KG Group, a local logistics and chemical business operator, and a Seoul-based private equity firm, Cactus Private Equity, signed a deal with creditors to buy a majority stake in Dongbu Steel for KWR 360 billion (USD 304 million). Under the deal, KG Group will hold 40 percent stake in the steelmaker.

Dongbu Steel was put under a debt workout scheme in 2015. Last year, the company posted KWR 2.5 trillion won in sales and logged an operating loss of KWR 59.6 billion

Source :

Posted By : Ratan Singh on Thu, 11 Jul 2019
Related News from Steel segment