Daewoo To Launch Aussie Unit For $93M Coal Stake

Law360, New York (August 25, 2009, 7:00 PM EDT) -- Daewoo International Corp., the South Korean trading and investment firm, plans to set up an Australian unit with AU$111.4 million ($92.9 million) by the end of the year to acquire a 5 percent stake in a coal mine in that country.

The company said Tuesday that it would create Daewoo International Australia Holdings to invest in the Narrabri bituminous coal mine, owned by Australia's Whitehaven Coal Ltd., in return for 1.5 million tons of coal a year or roughly one-quarter of the mine's annual production....
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