SKorea's Kumho Asiana named preferred bidder to buy Daewoo Engineering

SEOUL (AFX) - Kumho Asiana Group has been selected as the preferred bidder to buy a controlling stake in Daewoo Engineering & Construction Co Ltd, key creditors led by the Korea Asset Management Corp (KAMCO) said.

Prime Group has been named as the reserve bidder, KAMCO said.

Three other firms - Eugene Group, Doosan Corp and Samwhan Corp - had also submitted bids.