A source claimed Wednesday that the Abu Dhabi Investment Authority (ADIA), which has been touted as the top contender to buy Daewoo Construction, is indifferent to the Seoul-based builder.
‘Daewoo is not something that the ADIA is looking at. The ADIA has no interest in the firm,” said a person who is close to the sovereign-wealth fund owned by Abu Dhabi of the United Arab Emirates.
‘For the sellers, it would be helpful to put the ADIA on the list of potential buyers to get higher prices. But the ADIA is not involved this time,” he said.
This means that the auction on Daewoo might collapse as, out of the four short-listed candidates, only the ADIA consortium had been reported to have sufficient capacity to snap up Daewoo.
‘We should wait until the deadline of the final bidding, which falls next week. But if the ADIA does not participate in the bidding, it is bad news for Kumho Asiana,” said Yoon Jin-il, an analyst at IBK Securities. – read more at The Korea Times
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