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. Last Updated: 07/27/2016

Daewoo Relents on Sale

SEOUL, South Korea -- Embattled Daewoo Group said Wednesday that it no longer opposed selling its profitable brokerage as South Korea's second largest conglomerate went through dismemberment to climb out of a debt crisis.

Creditors had been expected to announce Wednesday at least some details about the restructuring.

But with the survivability of key Daewoo affiliates on the line, that has now been delayed at least until Monday amid heavy lobbying by Daewoo executives with the group's creditors.