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KEPCO offers up remaining LG Uplus shares

8 Dec 2014

Korea Electric Power Corp (KEPCO) has reportedly launched a selldown said to be worth around USD190 million in South Korean multi-service operator LG Uplus. According to Reuters, which cites a term sheet of the deal it had seen, KEPCO is offering its remaining 4.4% stake in LG Uplus in an indicative range of KRW10,800-KRW11,000 (USD9.61-USD9.79) per share.

As previously reported by CommsUpdate, in August 2014 KEPCO sold half of its stake in LG Uplus; with the power company having announced plans to sell KRW5.3 trillion in assets in March 2014, at the date it confirmed it would seek to divest its 8.80% stake in LG Uplus. In the initial stake sale KEPCO sold around 19.2 million shares in LG Uplus at KRW9,200 per share, generating around KRW186.3 billion in the process.

South Korea, LG Uplus

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