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JR Construction Co & Daewoo Shipbuilding & Marine Engineering Co Ltd	Update Date: 12/12/08
Date Announced: 09/01/05
Value (million $USD): 18.1 million U.S. Dollar 18.40 billion Korean Won

Status: Pending

TRANSACTION DETAILS
Date Announced	09/01/05
Date Originally Announced	01/01/04
Format	Acq. Maj. Int.	Acquisition techniques	Auction
Attitude	Friendly	Agency	n/a
Value	18.1 million U.S. Dollar 18.40 billion Korean Won	Advisor Fees	n/a

SYNOPSIS
SOUTH KOREA - Daewoo Shipbuilding & Marine Engineering Co Ltd planned to acquire a 58.5% interest JR Construction Co (JC), a construction company, for 18.4 bil Korean won ($18.05 mil US) via auction. The transaction was subject to due diligence review. Originally, in January 2004, JC announced that it was seeking a buyer for the company.

TARGET
Name	JR Construction Co
Industries	Industrial buildings and warehouses; Nonresidential building construction, nec; Highway and street construction; Bridge, tunnel, and elevated highway construction; Water, sewer, pipeline & utility line construction; Plumbing, heating and air conditioning; Electrical work; Masonry, stone setting, and other stone work; Plastering, drywall, acoustical & insulation work; Carpentry work; Floor laying and other floor work, nec; Roofing, siding, and sheet metal work; Concrete work; Special trade contractors, nec; Heavy construction, nec; Single-family housing construction
City	n/a
State	n/a
Nation	South Korea
Incorporated in	n/a
Public Status	Private
Business Description	Construction company
Advisors	PricewaterhouseCoopers
Target Sales	n/a

ACQUIROR
Name	Daewoo Shipbuilding & Marine Engineering Co Ltd (Korea : 042660)
Industries	n/a
City	Seoul
State	n/a
Nation	South Korea
Incorporated in	n/a
Public Status	Public
Business Description	Daewoo Shipbuilding & Marine Engineering (DSME) has secured a berth as one of the world's top shipbuilders. DSME builds special-purpose ships, repairs ships, and constructs plants. A contractor to major oil companies, DSME constructs various vessels, offshore platforms, drilling rigs, floating oil production units, submarines, and destroyers. It specializes in liquefied natural gas carriers and oil rigs. The company, established in 1978 as the shipbuilding and marine engineering division of Daewoo Heavy Industry, sailed off from its former parent in 2000. It became publicly listed on the Korean Stock Exchange a year later. Korea Development Bank is DSME's largest stockholder, with a stake of more than 31%.
Advisors	NULL
Acquiror Sales	4.82 billion U.S. Dollar 4,948.16 billion Korean Won

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