Reuters: Daewoo Electronics creditors-turned-shareholders dropped the $513 million deal to sell the electronics maker to Iran’s Entekhab Industrial Group, a source with direct knowledge of the matter said.
SEOUL, May 30 (Reuters) – Daewoo Electronics creditors-turned-shareholders dropped the $513 million deal to sell the electronics maker to Iran’s Entekhab Industrial Group, a source with direct knowledge of the matter said.
The source, who declined to be identified due to the sensitivity of the matter, said the shareholders planned to tap reserved bidder Swedish electronics firm Electrolux.
The move was the latest setback to the sale process which the creditors hope to wrap up after a series of failures. (Reporting by Ju-min Park; Editing by Jacqueline Wong)
