SEOUL -- The suitors for Daewoo Electronics include a US private equity firm and a Russian manufacturer, the company's creditors said today.

Woori Bank and Korea Asset Management, which own 97.5%of the South Korean consumer and white goods OEM, disclosed Ripplewood and Digilant Systems as finalists. The sale is expected to be completed by year-end.

"We are currently reviewing the bids and plan to name a preferred negotiator soon,” said Woori Bank, Daewoo’s main creditor, according to reports.

The value of the latest bids is unclear. Last year, creditors called a 700 billion won offer from Videocon Industries too low. More recently, a Morgan Stanley offshoot withdrew a bid after due diligence.

Daewoo is Korea's third largest electronics firm, after Samsung Electronics and LG Electronics. 

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