South Korea's SK Group said that it is considering joining a consortium led by steelmaker Posco seeking a major stake in shipyard Daewoo Shipbuilding & Marine Engineering.
"We are still considering. There are multiple stages we need to take before making a decision," said Kim Ju-hyun, spokesman at SK Group. Kim was referring to an earlier report by local media that SK Group would contribute less than 100 billion won ($89.62 million) in the consortium, an insignificant amount compared with the Daewoo deal that is estimated at $8 billion. Last month, cash-rich Posco and Hyundai Heavy officially expressed interest in the shipbuilder, while energy and construction-focused GS Group and Hanwha Group also handed in letters of intent to buy Daewoo. Posco had said earlier it is seeking shipping and energy companies to join the consortium, expecting such participation would increase its chances in the bidding.
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