Sale eyed for Daewoo Shipbuilding

South Korea aims to sell a controlling stake in Daewoo Shipbuilding and Marine Engineering, currently valued at 2.5 trillion won ($2.5 billion), in the second half of 2006. State-run Korea Development Bank (KDB) and government restructuring agency KAMCO own a combined 50.6% stake in the world’s second-biggest shipbuilder.

KDB, which is managing the sale on behalf of other creditors, has recently named JP Morgan as a lead manager for the deal. Shares in DSME gained 2.01% to close at 25,400 won.