SEOUL, July 16 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)