September 26, 2012 / 7:21 AM / in 5 years

S.Korea to pick advisors for up to $1.46 bln Korea Life stake

SEOUL, Sept 26 (Reuters) - The South Korean government plans to begin choosing advisors in October to review selling a stake of up to 1.63 trillion won ($1.46 billion) in Korea Life Insurance Co Ltd, a source with direct knowledge of the matter said Wednesday.

The advising bank or banks will review the sale of at least some of the entire 24.75 percent government stake in Korea Life held by the state-run Korea Deposit Insurance Corp, the source said.

The stake had a total market value of 1.63 trillion won as of Wednesday’s closing price.

$1 = 1119.3750 Korean won Reporting by Joyce Lee; Additional reporting by Chang-ho Lee; Editing by Matt Driskill

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