Reuters: Private Equity: Hi-Mart says top shareholders resume stake sale

Reuters: Private Equity Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Hi-Mart says top shareholders resume stake sale May 3rd 2012, 07:17 SEOUL | Thu May 3, 2012 3:17am EDT SEOUL May 3 (Reuters) - South Korean electronics retailer Hi-Mart said on Thursday its top shareholders would resume an auction for a controlling stake in the firm after it avoided delisting this week over $228 million embezzlement charges brought against its top executives. Hi-Mart said in a statement it would send invitation letters to potential bidders on Thursday and close the first round of the auction on May 14. The auction for a 57.6 percent stake in Hi-Mart was temporary suspended in February due to an investigation by prosecutors, who concluded last month its former chief executive and vice president neglected their duties and caused financial damages to the firm. (Reporting by Miyoung Kim; Editing by Jonathan Hopfner)

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions