Daewoo Securities eyeing coal mining firm

Following the purchase of a 19.9 percent stake in PT eTrading Securities, South Korea’s Daewoo Securities Co Ltd is studying the possibility of buying a stake in publicly listed coal firm and a palm oil plantation in Sumatra, Investor Daily reported Tuesday.

 

eTrading Securities’ general manager Ari Sandhi said that Daewoo Securities, South Korea’s largest securities firm,  was set to allocate US$2.5 billion for the planned purchase of the coal mining company and palm plantation in Sumatra.

 

“(Daewoo) may provide financing or add capitals (of the firms it want to acquire),” Ari said, without specifying the firms the South Korean firm was seeking to acquire.

 

He said he was unable to provide further information because the purchasing plan remained under study at stock exchange watchdog Bapepam.

 

All of the required document for the acquisition are expected to be completed this week, he said. (*)