Capital injection into Daewoo Shipbuilding to be completed this month
Dec 13, 2016
Embattled Daewoo Shipbuilding & Marine Engineering Co. is expected to receive 2.8 trillion won ($2.39 billion) from its creditors this month, averting a delisting from the local stock market, industry sources said Tuesday.Last month, the creditors, led by the state-run Korea Development Bank (KDB), decided to provide the financial aid, in the form of a debt-for-equity swap, to the ailing shipyard whose debts exceed assets amid mounting losses.According to the sources, Daewoo Shipbuilding will ho