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KDB to set up fund pool this month to buy up Daewoo Engineering
SEOUL, May 9 (Yonhap) -- State-owned Korea Development Bank (KDB) will set up a private equity fund this month to complete the takeover of a construction unit owned by the troubled Kumho Asiana Group by as early as July, the lender said Sunday.
The state lender plans to complete a due diligence on Daewoo Engineering & Construction Co. this week and establish the fund pool to buy a controlling 50 percent plus one share in the builder, KDB said.
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