GS Group eyes Daewoo Shipbuilding

SEOUL -- GS Holdings Corp , the holding firm of South Korea's GS Group, has said it was studying a possible bid for Daewoo Shipbuilding and Marine Engineering , the world's No. 3 shipbuilder.

Another domestic business group Hanwha said earlier on Thursday it was considering bidding for Daewoo, sending the shipbuilder's shares higher.

GS Group is an energy and construction-focused conglomerate.

By 1531 AEST Daewoo Shipbuilding shares were up 4.9 per cent to 44,850 won, back from the day's high of 46,450 won.

Source: Business Spectator