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Electronics Production | October 15, 2008

Russian investor to buy Daewoo Electronics?

The U.S. private equity firm Ripplewood Holdings and an unkown Russian investor have reportedly shown interest in South Korea based Daewoo Electronics, reports Reuters.

Both - Ripplewood and the Russian investor - have placed separate bids for Daewoo Electronics, part of Daewoo Group, a spokesman at leading creditor Woori Bank was cited in the report. The South Korean company was placed under a debt rescheduling programme - as its parent group had to file for bankruptcy in 1999. Now the company focuses on TVs, air conditioners and refrigerators.
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