Petronas says not interested in equity stake in Daewoo E&C
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KUALA LUMPUR, Sept 2 ― Malaysian state energy firm Petroliam Nasional Berhad today denied a media report that it was interested in buying a controlling stake in South Korea's Daewoo Engineering & Construction Co.
Petronas, as the company is known, and Aramco are among potential suitors for a 50.75 per cent stake in Daewoo E&C, a deal that could fetch around 2 trillion won (RM7.6 billion), South Korea's Maeil Business Newspaper said yesterday.
“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. ― Bernama