POSCO eyes acquistion of shares in Thainox

Tuesday, 21 June 2011 18:22:48 (GMT+2)

South Korea's largest steelmaker POSCO has been engaging in negotiations with Thailand-based stainless steel producer Thainox Stainless Public Co., Ltd. (Thainox) for the possible purchase and acquisition of certain shares of Thainox, according to a report by London Stock Exchange on June . To date, the parties have not yet agreed on any definitive terms or conditions.

Accordingly, POSCO has not made any formal or informal announcement on the issue. However, it is expected that POSCO will disclose material information regarding further developments in coming days.