| BUSINESSWEEK ONLINE : OCTOBER 4, 1999 ISSUE | ||||||||
| ||||||||
 | ||||||||
| INTERNATIONAL BUSINESS
Newbridge's Long Road OCTOBER, 1998 Seoul solicits bids for Korea First Bank in accord with terms of record IMF bailout. DECEMBER, 1998 Newbridge wins bid and signs pact to buy Korea First. FEBRUARY HSBC signs MOU to buy Seoul Bank with better terms for Korean government than Newbridge's Korea First offer. MAY With talks snagged, deadline for closing the deal passes. JULY Creditors roll over debts of Daewoo, hurting Korea First, which is owed $2.3 billion. SEPTEMBER On the brink of collapse, talks resume. Newbridge signs deal to buy control of Korea First for $417 million. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ |
|  |
 | |
RELATED ITEMS Green Light at Last for Change in Korea TABLE: Newbridge's Long Road INTERACT E-Mail to Business Week Online | |||
