TCC Steel, manufacturer of coated steel plates, said Tuesday that it will resume sale of its subsidiary TCC Bend Korea through an open bid.
“The company has not finalized the details about disposing of stake in TCC Bend Korea,” it said in a regulatory filing.
TCC Steel’s previous attempt to auction off its subsidiary in September last year failed, due to a lack of interest from potential buyers. Deloitte Anjin was its deal advisor at that time.
With the same accounting firm as advisor, TCC Steel will resume sale of the subsidiary, which is under court receivership, the company said.
By Kim Yoon-mi (yoonmi@heraldcorp.com)