October 29, 2014 / 8:50 AM / 4 years ago

Hyosung to sell packaging unit to Standard Chartered PE for 415 billion won

A man walks on a footbridge connected to the Standard Chartered headquarters in Hong Kong August 7, 2012. REUTERS/Bobby Yip

SEOUL (Reuters) - Korean chemicals firm Hyosung Corp 004800.ks said on Thursday it had signed a deal to sell its packaging business to Standard Chartered Private Equity for 415 billion Korean won(396.07 million US dollar), in a bid to improve its financial profile and restructure its business.

Reporting by Hyunjoo Jin; Editing by Clarence Fernandez

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