ICD takes controlling stake in ailing South Korean construction company | The National:
"Investment Corporation of Dubai (ICD) has acquired a controlling stake in the troubled South Korean construction firm Ssangyong Engineering & Construction, according to media reports.
The Seoul-based JoongAng Ilbo newspaper and Yonhap News Agency reported last week that the Dubai sovereign wealth fund behind Emirates Airline, Emaar Properties and Emirates NBD signed a deal last Thursday to acquire the construction company for 200 billion Korean won (Dh667.7 million).
ICD was named as preferred bidder for the construction company in December, according to reports in the Korean press, ahead of the Korean companies Samra Midas Group and Steel & Resources."
'via Blog this'
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