Iran Economy NewsDaewoo Elec $513 mln takeover deal falls apart -...

Daewoo Elec $513 mln takeover deal falls apart – source

-

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)

Latest news

The Real ‘Separatists’ Are Iran’s Rulers

Dictatorships are marked by the absence of a balanced government, political and social instability, significant human rights violations, and...

The Role of Students and Universities in Iran’s Nationwide Uprising

In the national uprising of the people of Iran, which started in mid-September this year, the students played a...

Snapback Sanctions, a Must Response to Iran’s Human Rights Abuse and JCPOA Violations

The protests in Iran have been going on for more than two months, even though the regime is cracking...

Growing Disintegration Among Iran Regime’s Forces

Iran has been shaken by a wave of nationwide protests since mid-September. The trigger was the death of the...

Grim Tidings for Iran’s Regime After Approval of UN Fact-Finding Mission

After many discussions and debates, the United Nations Human Rights Council has approved a fact-finding mission to investigate the...

Iranian People’s Resistance Changed the Appeasement Policy

Soon after the new US government started its obligations in January 2021, hand in hand with the European governments...

Must read

Sadness over asylum seeker Reza Berati’s death on Manus Island

The Telegraph - AU: Berati, 23, was killed on Monday...

Iran sanctions talks resume at UN

BBC: The UN envoys of six major powers have...

You might also likeRELATED
Recommended to you