GM - Daewoo Update

SEOUL, April 10 Reuters is reporting that General Motors Corp is expected to sign a slimmed deal to buy assets from South Korea's bankrupt Daewoo Motor this month, Daewoo creditor Korea Development Bank said on Wednesday.

GM was expected to drop Daewoo's plant in Egypt from a tentative deal signed with Daewoo's creditors last September, KDB Governor Jung Keun-yong told a news conference.

Jung said creditors would have to reach agreement now that the two sides had wrapped up working-level talks.

He said GM might take over Daewoo's main plant in South Korea, left out of the tentative pact, if the facility met a set of requirements related to output and labour.