December 23, 2015 / 6:37 AM / 4 years ago

StanChart private equity arm preferred bidder for Doosan Infracore asset: Yonhap

SEOUL (Reuters) - A private equity arm of Standard Chartered (STAN.L) was picked as the preferred bidder for industrial machinery maker Doosan Infracore Co Ltd’s (042670.KS) machine tools business, South Korea’s Yonhap news agency reported on Wednesday.

Yonhap, citing unnamed sources, said the Standard Chartered fund outbid other bidders with an offer of around 1.36 trillion won ($1.16 billion).

Standard Chartered and Doosan Infracore could not immediately be reached for comment.

Reporting by Joyce Lee; Writing by Se Young Lee; Editing by Kenneth Maxwell

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