Three groups have submitted preliminary bids for KDB Capital, an equipment leasing and venture capital firm 99.9 percent owned by Korea Development Bank, the state-run bank said Thursday.
“The bidders will commence preliminary due diligence,” the Seoul-based bank said, declining to give names of the suitors, citing confidentiality clause.
Korea Development Bank headquarters in Seoul (Yonhap)
This is the second time that KDB has tried to sell its stake whose book value is 600 billion won ($514 million). Its previous attempt, in November, failed due to lack of interest from buyers.
Credit Suisse and Samil PwC are managing the sale.
The final bidding round is scheduled for May, KDB said.
By Lee Sun-young (milaya@heraldcorp.com)