POSCO may sell a stake in S.Korea LNG terminal - company official

SEOUL, July 16 Tue Jul 15, 2014 8:30pm EDT

SEOUL, July 16 (Reuters) - South Korean steelmaker POSCO is considering selling as much as 49 percent of its liquefied natural gas (LNG) terminal in the southwestern city of Gwangyang, a company official told Reuters on Wednesday.

The Korea Economic Daily said on Wednesday POSCO had hired a foreign brokerage to manage the deal, worth more than 400 billion Korean won ($387.26 million).

The company official said the possible sale was part of POSCO's efforts to bolster its balance sheet. The official, who spoke on condition of anonymity because of the confidentiality of the matter, did not provide further details.

($1 = 1032.9000 Korean Won) (Reporting by Hyunjoo Jin and Joyce Lee; Editing by Paul Tait)

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