Kepco trims stake in KPS via $144m block trade

The fixed price deal is upsized by 26% following good demand from both international and domestic investors.

Korea Electric Power Co Kepco has sold a 7% stake in its maintenance and repair unit, Kepco Plant Service Engineering KPS, raising W152.14 billion $144 million.

The deal, which was launched and completed after the market closed on Tuesday, comes after the Korean power producer said in early November that it intends to sell part of its holdings in certain subsidiaries as well as other non-core holdings to deal with its debt financing problems.

According to a banker, it named KPS as well as Kepco Engineering Construction and telecom operator LG Uplus as targets for sale.

The three stocks have come under...

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