01
Oct
13:53
Saudi investment fund confirms shareholding in Posco Engineering and Construction
Korea’s Posco has received financing for its Engineering and Construction subsidiary from a Saudi Arabian investment fund. The deal was originally agreed in June with the payment confirmed by the steelmaker on 30 September.
The Saudi Arabia Public Investment Fund (PIF) now takes a 38% shareholding in Posco Engineering and Construction (PEC) following the KRW 1.4 trillion ($1.19 billion) funding. Parent company Posco now owns 52.8% of PEC with other institu…
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Anonymous
Very good overview of the weekly steel market.
Anonymous