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KG Dongbu Steel’s share price rose 7%… Ssangyong Motor Acquisition ‘Strong’ on Expectations

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KG Dongbu Steel’s share price is rising.

According to the Korea Exchange on the 8th, KG Dongbu Steel is trading at 17,650 won, up 1,300 won (7.59%) from the previous trading day as of 9:21 a.m. on the same day.

KG Dongbu Steel’s share price is believed to be rising as news of the KG Group’s acquisition of Ssangyong Motors spread.

On the 6th, KG Group announced that it was considering participation in the bidding for Jeon Ssangyong Motor. KG Steel, the largest shareholder of KG Dongbu Steel, is expected to form a consortium with Cactus Private Equity (PE) and become the main acquirer.

In 2019, KG Group acquired Cactus PE and Dongbu Steel (now KG Steel).

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