POSCO-DAEWOO MERGER MOVES AHEAD
September 1st, 2010
BY KEITH NUTHALL
SOUTH Korean steel giant POSCO has received European Commission regulatory clearance for its takeover of Daewoo International, a move that will boost its sales networks and help it diversify into non-ferrous metals. The decision by Brussels, which nodded though the deal via its streamlined simplified merger review procedure, comes days after the inking of an agreement in Seoul. There, POSCO's chairman Joonyang Chung said: "I am positive that Daewoo International and POSCO can create synergy, and Daewoo International's overseas resource ...
Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.