Jungheung inks Daewoo E&C takeover deal, vows managerial independence
Dec 10, 2021
Jungheung Group said on Dec. 9 it has signed a binding sales and purchase agreement contract with KDB Investment to acquire a controlling 50.75 percent stake in Daewoo Engineering & Construction. With the contract, Jungheung looks to complete the takeover of Korea’s sixth-largest construction company by Feb. 15 next year, following an antitrust review of the deal to be filed before year-end. The...