Banks line up for Woori sales

The phased privatisation of parts of the South Korean group, including regional banks and a securities arm, has investment banks signing up to provide advice.
Next year should see the sale of Woori Bank, along with whatever small businesses are not already sold
Next year should see the sale of Woori Bank, along with whatever small businesses are not already sold

South Korea’s MA market, after a sluggish year, is generating plenty of work for investment banks as the government seeks to privatise Woori Finance Holdings in stages.

This represents the fourth attempt by Seoul in as many years to sell its 57% stake. Instead of trying to sell it as a whole, it will sell its two regional banks first, followed by its brokerage and asset-management affiliates. Assuming the process goes well, this will be followed by selling Woori Bank and its holding company next year.

Last month, the government sent out invitations to potential bidders for Kwangju Bank and Kyongnam Bank the regional banks. JP...

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