14 Jun 2015
(MENAFN) Industry source said that South Korea’s steelmaker POSCO Co. will sign a deal with Saudi Arabia’s sovereign wealth fund to sell its stake in its main construction unit, Yonhap News reported.
The deal with Saudi Arabia’s Public Investment Fund (PIF) calls for POSCO to sell a 38 percent stake in POSCO Engineering and Construction Co. for USD1.08 billion, the industry source said.
Up for sale is a 25 percent stake owned by the steelmaker in POSCO E&C and a 13 percent holding that the construction unit will have by issuing new shares, the source said, asking not to be identified.
“A stock purchase agreement (SPA) will be inked between the two parties early this week,” the source told Yonhap News Agency, disclosing that the signing is scheduled on Monday.
15 Jan 2025
BBK Signs Strategic Partnership with Bahrain Airport Company to Develop “Express Cargo Village”
08 Jan 2025
Bank of Bahrain and Kuwait and Global Payment Services Deliver the First Advanced Fraud Prevention Solution for Wallet Provisioning in the Kingdom of Bahrain
26 Dec 2024
BBK proudly supports “Celebrate Bahrain” as a gold sponsor in cooperation with BTEA
17 Nov 2024
BBK and Asia Jewellers announce exclusive offers to its customers at Jewellery Arabia 2024
12 Nov 2024
BBK partners with Durrat Al Bahrain to offer exclusive financing for Jawhart Al Marjan
05 Nov 2024
As part of its digital transformation journey, BBK adds Google Wallet to its range of digital wallets
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more