Tuesday, October 15, 2019
AICD About to Acquire Ssangyong E&C
Ssangyong E&C
AICD About to Acquire Ssangyong E&C
  • By matthew
  • January 2, 2015, 05:52
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The Marina Bay Sands Hotel in Singapore, constructed by Ssangyong E&C in 2010. (Photo by Karya Sendiri via Wikimedia Commons)
The Marina Bay Sands Hotel in Singapore, constructed by Ssangyong E&C in 2010. (Photo by Karya Sendiri via Wikimedia Commons)

 

On Dec. 29, the Seoul Central District Court allowed the conclusion of an MOU between Ssangyong Engineering & Construction and the Investment Corporation of Dubai (ICD), the preferred bidder for the acquisition.

The ICD is going to conduct due diligence for three weeks before an investment contract is signed based on the MOU. It is said that the ICD has suggested approximately 200 billion won (US$181 million) as its payment for the acquisition.

The investment contract is expected to be signed next month.