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Goldman drops Korea Life IPO mandate -sources

Tue Nov 10, 2009 9:11pm EST

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SEOUL, Nov 11 (Reuters) - Goldman Sachs (GS.N) has dropped a mandate to handle the initial public offering of Korea Life Insurance Co, two banking sources said on Wednesday, an IPO worth an estimated $2 billion.

Financials

The sources said Credit Suisse (CSGN.VX) was picked instead to manage Korea Life's IPO, expected to take place in 2010.

Last week, Korea Life picked six banks, including Goldman, JPMorgan (JPM.N) and Deutsche Bank (DBKGn.DE) to handle the IPO. [ID:nSEO178653]

Both Goldman and Credit Suisse declined to comment.

(Reporting by Kim Yeon-hee; Editing by Jonathan Hopfner)

Financials


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