[THE INVESTOR] Anchor Equity Partners , a Seoul-based private equity fund, plans to sell its stake in Kyungnam Energy after the gas provider delisted from the benchmark KOSPI last month, according to a source at an investment bank on June 16.

Anchor Equity Partners, the second-largest shareholder of Kyungnam Energy, recently sent out a request for proposals to local and foreign investment banks and is currently seeking advisors for the deal. 

The disposal plan comes two years after the PEF acquired a 27.76 percent stake in Kyungnam Energy for 75 billion won ($ 64 million) in 2014.

The firm, which provides gas to Changwon, the capital city of South Gyeongsang Province, posted an operating profit of 20.2 billion won last year, up 16 percent from 17.3 billion in 2014.

Kyungnam Energy holds 37.53 percent of outstanding stock in the company in the form of treasury shares while Kyungnam Tech holds 29.75 percent.

By Park Han-na (hnpark@heraldcorp.com)