S.Korea's Woori gets at least 3 preliminary bids for broker unit
SEOUL Oct 21 (Reuters) - At least three South Korean firms have placed preliminary bids for a controlling stake in South Korea's biggest brokerage firm Woori Investment & Securities Co Ltd, officials at the companies said on Monday.
KB Financial Group, NongHyup Financial Group Inc and Seoul-based private equity firm PineStreet Group each said they were among the initial bidders for the brokerage, which is controlled by South Korea's biggest banking group Woori Finance Holdings Co Ltd.
Woori Finance Holdings is selling its entire 37.9 percent stake in the brokerage, worth 874.9 billion won ($825 million) based on the unit's closing share price on Monday.
The sale is part of the government's privatisation of Woori Finance Holdings. ($1 = 1060.8250 Korean won) (Reporting by Joyce Lee; Editing by Miral Fahmy)
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