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South Korea: Goldman Sachs to accept bids for LIG Insurance

May 19, 2014 - 6:00am

American investment bank Goldman Sachs Group Inc. is set to accept bids for LIG Insurance Co. Ltd. soon in a sale that has generated considerable interest as the target is among South Korea's major nonlife insurers.

LIG Group plans to divest its 20% stake, worth 370 billion South Korean won ($361.3 million), in LIG Insurance, The Korea Herald reported.

KB Financial Group Inc., Lotte Group and China's Fosun International Ltd. are among the six contenders.

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