Malaysia's Petronas says not interested in equity stake in Daewoo E&C - Business News | The Star Online

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Malaysia's Petronas says not interested in equity stake in Daewoo E&C


  • Oil & Gas
  • Saturday, 2 Sep 2017

Daewoo Shipbuilding & Marine Engineering’s shipyard is seen in Geoje, South Korea, May 25, 2016. - Reuters filepic

Daewoo Shipbuilding & Marine Engineering’s shipyard is seen in Geoje, South Korea, May 25, 2016. - Reuters filepic

KUALA LUMPUR: Malaysian state energy firm Petroliam Nasional Berhad on Saturday denied a media report that it was interested in buying a controlling stake in South Korea's Daewoo Engineering & Construction Co.

Petronas, as the company is known, and Aramco are among potential suitors for a 50.75 percent stake in Daewoo E&C, a deal that could fetch around 2 trillion won ($1.78 billion), South Korea's Maeil Business Newspaper said on Friday.

"Petronas has no intention of entering into such business transaction and wishes to categorically deny the report," a company spokesperson told Reuters in an emailed statement - Reuters

Oil & Gas , Construction

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