(South Korea) – South Korea’s Kookmin Bank along with two other banks are again looking at a take over of Daewoo Securities.Daewoo Securities has essentially been for sale since 1999 following its parent’s collapse, but the firm’s improving financial position is starting to attract new takeover interest.
Daewoo is expecting net profits of 250 billion won (US$190 million) for the year to March 31 2003, twice its estimated 110 billion won for the year ending March 2002 and after its huge 1.2 trillion won loss in its 2001 year.