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STX denies interest in Daewoo yard.

Europe Intelligence Wire

| March 01, 2006 | COPYRIGHT 2006 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From Lloyds List)

SOUTH Korea's STX Corp has denied press reports that it plans to make a bid for Daewoo Shipbuilding ' Marine Engineering, the world's second largest shipbuilder and a fierce rival of STX Corp affiliate STX Shipbuilding.

STX Corp spokesman Lee Hong Suk said yesterday: 'Any suggestion that STX has plans to buy into Daewoo Shipbuilding is incorrect.' Korea Asset Management Corp (Kamco) has made it known it will be pushing hard this year for the sale of five former affiliates of the Daewoo Group, including a 53% stake in Daewoo Shipbuilding. The Daewoo ...

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