According to investment banking sources on August 4, Samra Midas Group, a mid-sized conglomerate with businesses in construction and manufacturing, offered a price of 225 billion won, including a 165-billion-won capital increase and a 60-billion-won debt assumption.

 

Meanwhile, other bidders such as Polaris Shipping and Daelim Corp. made offers of 215 billion won and 195 billion won, respectively. Investment bankers close to the deal said it is almost a done deal and the court and principal underwriter Samil PricewaterhouseCoopers will soon select Samra Midas as the preferred negotiating partner. Korea Line runs bulk carriers and liquefied natural gas ships. Its major clients include POSCO, Korea Electric Power Corp., and Korea Gas Corp.