Seoul, Sep 3, 2009 AEST (ABN Newswire) - South Korea's Woori Finance Holdings (SEO:053000) is considering investing approximately US$300 million in Blackstone Group's private equity fund, a Korean media said.
The report said that Woori Bank will likely put up US$200 million and Woori Investment & Securities (SEO:005940) is to invest US$100 million in the fund, 70% of which is invested in North America. The amount of the deal is still under discussion and the decision on the investment is expected this month.
Blackstone ever approached Woori Private Equity for an investment opportunity, but Woori decided to put investing in the fund on hold due to uncertainties stemming from the global financial crisis.
Woori Finance, 73 percent owned by the South Korean government, runs the country's No. 2 lender Woori Bank and brokerage Woori Investmenmt & Securities.
Contact
Michelle Liang
Asia Business News Asia Bureau
Tel: +61-2-9247-4344
Email: michelle.liang@abnnewswire.net
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