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KDB Plans Woori Finance Stake Bid

South Korea’s KDB Financial Group is planning to bid for government’s majority stake in Woori Finance Holdings.

    South Korea’sKDB Financial Groupis planning to bid for government’s majority stake inWoori Finance Holdings,The Wall Street Journalreports. The stake is currently valued at around $6.11 billion.

    State-owned KDB has submitted its plan for the acquisition to theFinancial Services Commission. The South Korean government is seeking to set up a new plan for divesting from Woori Finance after failing to sell a controlling stake in the lender last year.

    Click here for the story fromThe Wall Street Journal.

    Click here for additional coverage fromReuters.

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