Arab Today, arab today woori to close preliminary bidding for regional bank sales
Last Updated : GMT 03:15:12
Arab Today, arab today
Arab Today, arab today

Woori to close preliminary bidding for regional bank sales

Arab Today, arab today

Arab Today, arab today Woori to close preliminary bidding for regional bank sales

Seoul - Yonhap

Woori Finance Holdings Co. is set to end Monday the preliminary bidding for its regional bank units, its officials said, as part of the privatization process to sell the No. 1 state-funded banking group. The Korea Deposit Insurance Corp. (KDIC), the state-run debt clearer that holds the controlling stake in Woori Finance, will close the preliminary bidding for Kyongnam Bank and Kwangju Bank later Monday as planned, according to KDIC officials. The bidding is the first part of the government\'s three-staged sale plan of the banking group worth more than 300 trillion won (US$276.8 billion) as announced by the country\'s financial regulator in late June. Kyongnam Bank and Kwangju Bank have been grouped as Woori\'s regional bank unit out of 14 affiliates that will be put up for sale in three batches until the end of 2014. The government put up the public notice to sell the two regional banks on July 15. They are estimated to be worth around 1.3 trillion won and 1.2 trillion won, respectively. It is largely expected that two southern region-based financial companies -- BS Financial Group Inc. and DGB Financial Group Co. -- will submit their bids for both banks as they\'ve shown strong interest. The state-run Industrial Bank of Korea (IBK) also plans to make a bid for Kyongnam Bank. Two consortiums, each consisting of local businessmen based in the southeastern and southwestern provinces, will hand in their own bids separately for Kyongnam Bank and Kwangju Bank. JB Financial Group Co., another regional financial firm, is expected to take part in the Kwangju Bank bidding. There have been speculations that two major South Korean banking groups -- Shinhan Financial Group Co. and Hana Financial Group Inc. -- may show up at the last minute. If the sale of the two banks falls through, they will remain as affiliates of the KDIC, the Financial Services Commission (FSC) said earlier. The FSC will auction off the brokerage unit, including Woori Investment & Securities Co., next month and the flagship unit Woori Bank in January.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today woori to close preliminary bidding for regional bank sales Arab Today, arab today woori to close preliminary bidding for regional bank sales

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today woori to close preliminary bidding for regional bank sales Arab Today, arab today woori to close preliminary bidding for regional bank sales

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday