Kumho Industrial selling 1 trln won assets in package deal -paper

SEOUL Nov 18 (Reuters) - Kumho Industrial will be selling 1 trillion Korean won ($884.5 billion) worth of assets to roughly 10 private equity funds including 12.3 percent to Daewoo Engineering & Construction, a domestic paper said Friday.

Quoting financial sources, the Korea Economic Daily said the buyout funds had turned in a letter of intent to buy the assets from Kumho Industrial on Friday.

Creditors will announce preferred bidders early next week, the paper said.

($1 = 1130.550 Korean Won) (Reporting by Christine Kim; Editing by Jacqueline Wong)