Steel giant to join bidding for Korea Express

Posco, the world's third-biggest steel producer, has decided to participate in the final bidding for a controlling stake in Korea Express, a deal expected to be worth around US$1.5 billion, reported Reuters.


Posco, Lotte Group and CJ Group previously submitted preliminary bids for South Korea's top logistics firm.


The top shareholders of Korea Express – Asiana Airlines Inc and Daewoo Engineering & Construction – decided to delay the firm's auction to June after agreeing to separate one of its units from the sale.
(Source:http://www.cargonewsasia.com)