Report: Dongbu Group likely to acquire Daewoo Electronics

Report: Dongbu Group likely to acquire Daewoo Electronics

SAN FRANCISO—South Korea's Dongbu Group is likely to be the winning bidder in acquiring Daewoo Electronics Co., according to a report by the Reuters news service which quotes an unnamed source.

According to the report, Dongbu and a financial investor had jointly bid to acquire a near 100 percent stake in Daewoo. The Dongbu bid is likely to be accepted over that of a rival bid from Swedish home appliance vendor AB Electrolux, according to the report.

Citing various media reports, the Reuters report said the bid was worth about 370 billion won ($327 million).

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