Five bidders have been taken through to the final round in the auction of Sambu Construction Industrial, a local building materials-maker with annual revenue of around 50 billion won ($43,400), the deal’s manager Samjung KPMG said Friday. 

Sambu Construction Industrial’s headquarters in downtown Seoul. (Yonhap)

They include ready-mix concrete-maker Tong Yang, Daewon Construction and Keystone PE, a Seoul-based buyout firm set up by former Woori Bank CEO Lee Duk-hoon. 

Sambu Construction Industrial is 99 percent owned by KOSPI-listed Sambu Construction, which is currently under court receivership. It specializes in the production of prestressed high-strength concrete piles, ranking fourth in the local PHC market. It recorded revenue of 54.8 billion won and operating profits of 6.8 billion won in 2014. 

The final bidding round is schedule for April 22.

By Lee Sun-young
(milaya@heraldcorp.com)