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THE INVESTOR

Deals

Preferred bidder for Dongbu Daewoo Electronics to be picked soon

  • PUBLISHED :October 25, 2017 - 09:57
  • UPDATED :October 25, 2017 - 10:57
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[THE INVESTOR] The preferred bidder for cash-strapped Dongbu Daewoo Electronics is set to be selected soon, industry sources said on Oct. 25.

According to the sources, NH Investment & Securities, which oversees the deal, is currently conducting due diligence of candidates. After the procedure, the creditors will pick the preferred bidder based on candidates’ financial and business capabilities.

Sources said the candidates include Dayou Winia, a Korean firm well known for its refrigerators designed exclusively for kimchi.

The candidates may also include companies from Mexico, France, Turkey and Sweden, the sources added. Sweden-based Electrolux also expressed its intention to buy then-Daewoo Electronics before it was acquired by Dongbu Group in 2013.

Dongbu Daewoo Electronics currently relies on overseas market to generate 80 percent of its sales. The company makes TV and monitors, refrigerators, kitchen appliances, washing machines and air conditioners.

By Alex Lee and newswires (alexlee @heraldcorp.com)
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