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KOREA'S KEANGNAM ENTERPRISES TO BE SOLD AFTER WORKOUT PROGRAM.
SEOUL, Nov 1 Asia Pulse - Keangnam Enterprises Ltd. is expected to be sold after completing its workout program, creditors for the construction company said Friday.
They said a meeting of creditor institutions will be held around the middle of the month to decide whether or not the company meets the criteria to be taken off the workout roster.
"Once that decision has been made creditors who control 81 per cent of the company's stocks will sell off 51 per cent of their holdings to a new owner," said a spokesperson for the creditor institutions. He added the consensus was that Keangnam has made considerable efforts to generate profit and repay ...
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Source: HighBeam Research, KOREA'S KEANGNAM ENTERPRISES TO BE SOLD AFTER WORKOUT PROGRAM.