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Article: Korea: Abu Dhabi firm in race for Daewoo Engineering.
- Article from:
- TendersInfo
- Article date:
- November 5, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: sanjayV03
Abu Dhabi Investment Company (ADIC) and two other foreign companies are bidding for South Koreas Daewoo Engineering & Construction Co, a source from Daewoo Engineering said on Tuesday.
Private equity firm MBK Partners had dropped out of the bidding, while AC Development of the United States and Saudi Arabian investment company S&C International were in the auction, the source told Reuters.
Bidding will close by November 11, to be evaluated through November 16 to pick a preferred buyer, said the source, who asked not to be named because of the sensitivity of the matter.
MBK Partners could not immediately be reached for ...