SEOUL Dec 19 South Korea's LIG Insurance Co Ltd
has chosen Goldman Sachs Group Inc to advise
on the sale of a controlling stake, two sources with direct
knowledge of the matter said on Thursday.
The stake - worth 381.6 billion won as of the Wednesday
close of LIG's share price - plus a management premium could
value the sale at around 500 billion to 600 billion won ($475.62
million to $570.75 million), local media reported on Thursday.
Largest shareholder Koo Bon-sang and other shareholders are
considering selling 21 percent of the general insurer, LIG said
in November in a regulatory filing.
Koo and other members of LIG's owning family are selling the
stake to reimburse investors for losses sustained after buying
debt issued by an affiliate construction company.