Kamco has mandated CSFB to sell its stake in Daewoo Heavy Industries Machinery, a company with an enterprise value of around $1.1 billion.
Kamco owns 35.6% of the company, whose businesses include making tanks, forklift trucks and machine tools. It has a 35% market share in Korea and is number one in excavators, forklift trucks and machine tools. However, what buyers may be most excited by and thus pay a strategic premium for is its position in fast-growing China, where it has a 20% market share in the construction equipment business and has three factories.
CSFB has been hired by Kamco to first do a feasability study and then execute the...
