South Korean shipyard K Shipbuilding will be put on sale with an estimated value of KRW 1 tn (c. USD 727 mn), South Korean outlet Maeil Business Newspaper reports. The owners — Uamco and KHI consortium — have sent requests for proposals to local accounting outfits to take 99.58% of their shares to market. The final selling price may change during negotiations, the news outlet reports.

Turning the tanker: Once the world's fourth-largest shipyard, K Shipbuilding faltered after the 2008 financial crisis before it entered court receivership in 2016 — the state of being managed by a court-appointed third party. The firm was later sold to the current owners who oversaw a strong performance rebound by last year, recording KRW 934.7 bn in revenues.

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