August 14, 2014 / 7:21 AM / in 3 years

POSCO in talks to sell specialty steel unit to SeAH Besteel

SEOUL, Aug 14 (Reuters) - South Korean steelmaker POSCO said on Thursday it was in talks to sell its specialty steel unit to SeAH Besteel - a move that would help bolster its balance sheet.

POSCO owns a 72.1 percent stake in unlisted POSCO Specialty Steel. The holding would be worth 746 billion won ($730 million) based on the 28,700 won per share price the unit paid for some of its treasury stock earlier this year. (1 US dollar = 1,021.0000 Korean won) (Reporting by Hyunjoo Jin; Editing by Edwina Gibbs)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below