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Kumho Industrial sells $810m assets to Korea Finance Corp PE arm

13 Jun 2012

Kumho Industrial Co has sold KRW946.5bn won ($810m) worth of assets, including a KRW415.5bn ($356m) stake in Daewoo Engineering & Construction, to a buyout fund managed by Korea Finance Corp in a bid to boost liquidity.

The company has also said it will take a 30 per cent stake in Korea Finance Corp’s fund in return for a KRW150bn ($128m) investment, allowing the company to share in the profits once the assets are sold.

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