Petronas said to consider bid for stake in Daewoo E&C: Maeil

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KUALA LUMPUR (Sept 1): Malaysia’s Petronas considering possible bid for 50.75% stake in Daewoo Engineering which Korea Development Bank owns, Maeil Business Newspaper reports, citing unidentified people in investment banking industry.

* Petronas to conduct due diligence of Daewoo Engineering’s financial status through Sept.; may participate in the bidding in Oct.

* KDB plans to complete the sale process early next year

* Related Story: KDB to Hire BofA Merrill, Mirae Asset for Daewoo E&C Stake Sale