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The state-run Korea Development Bank has once again failed to sell its subsidiary KDB Capital.
KDB said in a statement that only one bidder participated in the final bidding for KDB Capital that closed at noon Tuesday, which did not result in a binding competition.
KDB said in a statement that only one bidder participated in the final bidding for KDB Capital that closed at noon Tuesday, which did not result in a binding competition.
In the preliminary bidding in March, U.S. private equity giant Carlyle, a private equity firm set up by SK Securities and a non-financial company based in Korea were selected as the three suitors.
The policy bank failed to sell its 99.92 percent stake in KDB Capital in November last year due to lack of interest from potential bidders.
The company’s book value is estimated at 593.3 billion won ($688 million)
Local news reports speculated the price for KDB Capital would be around 600-700 billion won.
By Kim Yoon-mi (yoonmi@heraldcorp.com)
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Articles by Korea Herald
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