Reuters: Mergers News: CORRECTED-Ontario Pension chosen for S.Korea's Kyobo Life stake sale-report

Reuters: Mergers News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

CORRECTED-Ontario Pension chosen for S.Korea's Kyobo Life stake sale-report Jun 7th 2012, 02:28 Wed Jun 6, 2012 10:28pm EDT (Deletes reference to consortium -- Ontario Teachers Pension Plan was bidding alone) SEOUL, June 7 (Reuters) - Canada's Ontario Teachers Pension Plan beat out Affinity Equity Partners as the preferred bidder for a stake worth $398 million in South Korea's unlisted Kyobo Life Insurance, local media reported on Thursday. The bid involved a 9.9 percent stake held by state-run Korea Asset Management Corp (KAMCO), a source with direct knowledge of the matter told Reuters. The bid price was 230,000 Korean won ($190) per share, with the total stake to be sold at 470 billion Korean won ($398.26 million), the Chosun Ilbo reported. The preferred bidder is expected to be finalised on Friday by a regulatory committee overseeing the recovery of bailout funds. ($1 = 1180.1250 Korean won) (Reporting By Jungyoon Lee and Stephen Aldred; Editing by Gary Hill and Ron Popeski)

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions