SEOUL Dec 23 South Korea's Shinhan Financial
Group Co Ltd, BS Financial Group Inc,
Industrial Bank of Korea and a consortium joined by
private equity firm MBK Partners were among final bidders for
Woori Finance Holdings Co Ltd's two regional banking
units, officials at the bidding parties said on Monday.
Three bids were submitted for Kyongnam Bank and
at least three bids were submitted for Kwangju Bank,
The 57 percent stakes in the two banks are being sold
separately but are together expected to fetch 1.3 trillion to
1.8 trillion won ($1.23 billion to $1.7 billion), the Korea
Economic Daily reported on Monday.
State-run Korea Deposit Insurance Corp (KDIC) is selling the
stakes as part of the government's attempt to sell its entire
holding in South Korea's largest banking group, Woori Finance,
to recoup more than $11 billion of bailouts since the Asian
financial crisis in the late 1990s.
KDIC officials could not be reached for immediate comment.
($1 = 1061.2000 Korean won)
(Reporting by Joyce Lee; Editing by Christopher Cushing)