Affinity, MBK submit initial bids for S.Korea's KT Rental-source

SK Networks Co

21/11/2014 06:08

SEOUL, Nov 21 (Reuters) - Asian private equity firms 
Affinity Equity Partners and MBK Partners are among the initial 
bidders to buy South Korea's biggest car rental company KT 
Rental  KTCRPC.UL , a person with knowledge of the matter said 
on Friday. 
    KT Corp  030200.KS , South Korea's second largest telecom 
company and the parent of KT Rental, put it up for sale in June 
in a deal expected to fetch around 600-800 billion won ($541-721 
million).  ID:nL4N0QR0YV   
    In separate regulatory filings this week, South Korean 
companies SK Networks  001740.KS , GS Retail Co Ltd  007070.KS , 
Hyosung Corp  004800.KS , Hankook Tire Worldwide Co Ltd 
 000240.KS  and SFA Engineering Corp  056190.KQ  all said they 
had also submitted initial bids. 
    The source said KT Rental received about 20 non-binding buy 
bids and a shortlist could be drafted as early as next week. The 
person declined to be identified as he was not authorised to 
speak to the media. 
    A KT spokesman declined comment. Affinity declined comment, 
and a spokesman for MBK could not immediately be reached for 
comment.  
(1 US dollar = 1,109.5000 Korean won) 
 
 (Reporting by Joyce Lee; Editing by Miral Fahmy) 
 ((jungyoon.lee@thomsonreuters.com; +82 2 3704 5609; Reuters 
Messaging: jungyoon.lee.thomsonreuters.com@reuters.net)) 
 
Keywords: KT RENTAL SALE/