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Malaysia's Petronas says not interested in equity stake in Daewoo E&C
September 2, 2017 / 2:47 AM / 20 days ago

Malaysia's Petronas says not interested in equity stake in Daewoo E&C

FILE PHOTO: A Petronas logo at their office in Kuala Lumpur, Malaysia August 15, 2017. REUTERS/Lai Seng Sin

KUALA LUMPUR (Reuters) - Malaysian state energy firm Petroliam Nasional Berhad [PETR.UL] on Saturday denied a media report that it was interested in buying a controlling stake in South Korea’s Daewoo Engineering & Construction Co (047040.KS).

Petronas, as the company is known, and Aramco are among potential suitors for a 50.75 percent stake in Daewoo E&C, a deal that could fetch around 2 trillion won ($1.78 billion), South Korea’s Maeil Business Newspaper said on Friday.

“Petronas has no intention of entering into such business transaction and wishes to categorically deny the report,” a company spokesperson told Reuters in an emailed statement.

Reporting by A. Ananthalakshmi; Editing by Jacqueline Wong

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