16
Feb
00:00
Posco to sell stake in engineering unit to Saudi investment fund: reports
South Korea’s Posco has signed a preliminary deal to sell a 38% stake, plus new shares in its Engineering & Construction (Posco E&C) division to Saudi Arabia’s Public Investment Fund (PIF) for $1.36 billion, according to local press reports. The deal is to be finalised in March.
Posco plans to use some of the proceeds to build a joint construction firm with PIF to help tap into the gas and oil plant market in Saudi Arabia, reports sa…
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Anonymous
Very good overview of the weekly steel market.
Anonymous