Daewoo diversifies

Daewoo Shipbuilding & Marine Engineering, in South Korea, is seeking to diversify its business portfolio for synergy and new growth, industry sources said today. Daewoo Shipbuilding is conducting due diligence on JR Construction Co., one of the country’s small builders, as a preferred bidder. It also intends to acquire the local construction company to help construct its overseas ship repairing facilities in Oman. The shipbuilder plans to ink the final deal for the takeover at a price of about 30 billion won ($29.22 million) as early as this month.