SEOUL, Jul. 2 (Korea Bizwire) — POSCO signed a Share Purchase Agreement (“SPA”) with the Public Investment Fund (“PIF”) of Saudi Arabia for sale of POSCO E&C shares. The transaction brings in KRW1.24 trillion of foreign investment into Korea. On June 15, 2015, POSCO Chairman Kwon Oh-joon and PIF Secretary General Abdulrahman M. Al Mofadhi [...]
SEOUL, May 17 (Korea Bizwire) — POSCO Co., South Korea’s largest steelmaker, likely will sign a comprehensive cooperation deal with South Arabia’s sovereign wealth fund next month that includes the sale of a stake in its construction unit, industry sources said Sunday. POSCO was supposed to complete the deal with the Public Investment Fund (PIF) [...]
SEOUL, March 4 (Korea Bizwire) — POSCO, South Korea’s largest steelmaker, said Wednesday that it has signed a tentative deal with a sovereign fund of Saudi Arabia to push for “comprehensive” cooperation that includes construction and automaking. The tie-up was promised under a memorandum of understanding signed by POSCO CEO Kwon Oh-joon and Abdulrahman Al [...]