The Korean power producer sells a 5% block in Kepco Plant Service & Engine on a day when global investors are focused on the US government’s sell-down in AIG.
An undisclosed shareholder raises $352 million from the sale of its entire stake in Kumho Petrochemical a day after Kepco is forced to cut the size of its sell-down in Kepco E&C to just $87 million.
The deal is priced below the initial range even though the withdrawal of AIA's planned IPO is said to have resulted in increased interest for the Korean life insurer.