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.