POSCO Int'l to raise $395.8 mil. for US shale gas assets
POSCO International said Monday its U.S. subsidiary will raise 532.9 billion won ($395.8 million) through a rights offering to acquire shale gas assets in the United States. The company said the funds will be raised by its wholly owned subsidiary, POSCO International E&P USA, but did not disclose the name of the shale gas assets or its partner in the deal. In addition to the rights offering,…
POSCO International has announced plans to raise $395.8 million through a rights offering to acquire shale gas assets in the United States. The funds will be raised by POSCO International E&P USA, a wholly owned subsidiary of the company. In addition to the rights offering, POSCO International will also extend 266.1 billion won in loans to its U.S. subsidiary by March 15 next year. The conglomerate, which is a steelmaking-to-energy group, is acquiring these assets in partnership with an unidentified entity.
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Also reported by 2 other outlets
- POSCO Int'l to raise $395.8 mil. for US shale gas assets koreatimes.co.kr
- POSCO International to raise 532.9 bln won for U.S. shale gas assets en.yna.co.kr
