Kepco block

Kepco trims stake in maintenance unit, raises $97 million

The Korean power producer sells a 5% block in Kepco Plant Service & Engine on a day when global investors are focused on the US government’s sell-down in AIG.
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Kepco Plant Service & Engine (KPS), which provides maintenance services for power plants and other industrial plants
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<div style="text-align: left;"> Kepco Plant Service & Engine (KPS), which provides maintenance services for power plants and other industrial plants </div>

It didn’t turn out to be as busy a start to the week as market participants expected when stocks rallied at the end of last week, partly because weak China trade data dampened the enthusiasm a bit. Global investors were also busy on Monday assessing the US Treasury’s massive sell-down of its stake in American International Corp AIG, making it tough for smaller deals to compete for attention.

The AIG block was priced at $32.50 per share early yesterday morning for a total deal size of $18 billion, of which AIG itself bought approximately $5 billion worth of shares. Overnight, the underwriters also exercised the overallotment option, increasing the...

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