PRINT THIS PAGE Carlyle and JP Morgan to sell South Korean Koram Bank19/11/2003. Source: AltAssets. 
 Private equity firms Carlyle Group and JP Morgan Partners are to sell their stake in the South Korean lender Koram Bank. Citigroup, Standard Chartered and Temasek have emerged as front-runners in the bidding.
Carlyle and Citigroup are selling a 37 per cent interest in Koram Bank, which is Korea’s sixth largest lender. At last night’s closing price the stake was worth about $861m but the private equity groups are expected to raise at least $1bn from the sale, according to the Financial Times.
Carlyle and JP Morgan made an initial investment of $440m in 2000. A decision on the preferred bidder is expected by the end of the month.
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