04
Mar
09:37
Dongbu’s future rests on equity swap
South Korea’s Dongbu Steel is hoping that a debt-to-equity swap could prevent it from being forcibly delisted and improve the chance that it could be sold. The company was taken over by the Korea Development Bank (KDB) as part of a debt restructuring but a planned sale fell through as potential buyers withdrew from bidding, Kallanish notes.
KDB is encouraging other creditors to accept the deal, which will need to be supported by 75% of shareholdings. KDB c…
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Anonymous
Very good overview of the weekly steel market.
Anonymous