UPDATE 1-S.Korea starts Daewoo Shipbuilding sale, shares jump

Newswire

(Adds details) SEOUL, March 26 (Reuters) - South Korea will start the sale process for Daewoo Shipbuilding and Marine Engineering Co , the world's No. 3 shipbuilder, by putting up for sale a 50.4 percent stake currently worth $3.6 billion. State-run Korea Development Bank (KDB), Daewoo's top shareholder, said in a statement on Wednesday it would name lead managers for the sale and put the company up for auction, but did not provide any detailed timeframe. State institutions own 50.4 ...

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