Reuters: Private Equity: Kumho agrees $812 mln asset sale including Daewoo E&C stake

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Kumho agrees $812 mln asset sale including Daewoo E&C stake Jun 12th 2012, 08:08 SEOUL, June 12 | Tue Jun 12, 2012 4:08am EDT SEOUL, June 12 (Reuters) - South Korea's Kumho Industrial Co said it had sold 946.5 billion won ($811.9 million) worth of assets, including its 415.5 billion won stake in Daewoo Engineering & Construction to a private equity fund operated by Korea Finance Corp to boost liquidity. Kumho will also take a 30 percent stake in the fund with a 150 billion won investment to share profits when the fund re-sells the acquired assets from the firm, the company said.

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