KB Financial, Lotte, 3 others tender offers to buy LIG Insurance
May 19, 2014
Major banking group KB Financial Group Inc., retail giant Lotte Group, and three others offered their bids to buy LIG Insurance Co., a local non-life insurer which has been on the selling block since late last year, industry sources said Monday.LIG Group, a mid-sized conglomerate, has put up some 21 percent in the country's No. 5 non-life insurer to secure cash to compensate retail investors for losses incurred from its 2011 financial fraud scandal.The price tag for LIG Insurance ranges from 400