South Korea: Goldman Sachs to accept bids for LIG Insurance
Posted On: May. 19, 2014 12:00 AM CSTAmerican 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.