[THE INVESTOR] Kyungnam Energy’s majority shareholders have decided to sell their combined 96.5 percent stake, according to news reports on Sept. 13.

Sangwon Comtru and Anchor Equity Partners are seeking to appoint a lead manager for the sale of the supplier of liquefied natural gas and petroleum gas based in South Gyeongsang Province. It has posted sales of 353.3 billion won (US$318.20 million) and operating profit of 20.2 billion won in the first half of 2016. The company delisted in May.

Sangwon Comtru’s largest shareholder is Chung Yeun-wook, the representative of Kyungnam Energy. Anchor Equity Partners is a Seoul-based private equity fund that manages about 2 trillion won fund invested from overseas pension and sovereign wealth funds.

The industry estimates the sale price to be around 400 billion won.

By Hwang You-mee (glamazon@heraldcorp.com)