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Article: KDB TO PAY US$451 MLN TO TAKE OVER DAEWOO SECURITIES.

Article from:
AsiaPulse News
Article date:
May 12, 2000
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SEOUL, May 12 Asia Pulse - It is expected to cost Korea Development Bank (KDB) 500 billion won (US$451 million) to take over Daewoo Securities, an informed government source said Friday.

The state-invested bank needs 154.9 billion won to buy the brokerage house's shares, 320 billion won to pay for losses from loans called in to Daewoo companies and a little more to reduce debts to meet the minimum net worth ...

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