Kumho Asiana picks top bidder for Seoul Express Bus Terminal

By Nam Kwang-sik
SEOUL, Aug. 3 (Yonhap) -- Kumho Industrial Co., a construction unit of South
Korea's Kumho Asiana Group, said Monday that the group has selected a private
equity fund as a prime bidder for the stake sale of Seoul Express Bus Terminal.
Core FG was named as top bidder for the stake sale of Seoul Express Bus Terminal,
and Hyundai Department Store Co. was picked as the second bidder, Kumho
Industrial said in a regulatory filing.
Kumho Asiana Group has been pushing to sell the bus terminal to plug its cash
shortage caused by the purchase of the country's third-largest builder Daewoo
Engineering & Construction Co. in 2006.
Kumho Industrial holds a 38.74 percent stake in the bus terminal, followed by
Hanjin Transportation Co. with 16.67 percent and Chunil Express Co. with 15.74
percent.
ksnam@yna.co.kr
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