April 26, 2018 / 12:01 AM / 5 months ago

Samsung C&T picks Bain as preferred bidder for Hanwha General Chemical stake

SEOUL, April 26 (Reuters) - South Korea’s Samsung C&T said on Thursday that it had picked Bain Capital as the preferred bidder for its stake in Hanwha General Chemical.

The company gave no further details but Maeil Business Newspaper said Samsung C&T and its affiliate, Samsung SDI , had chosen Bain Capital as the preferred bidder for their combined 24.1 percent stake in Hanwha General Chemical in a deal that values Hanwha at about 1.1 trillion won ($1 billion).

The report said Samsung C&T held a 20.1 percent stake in the unlisted chemicals company, while Samsung SDI had a 4.1 percent share. ($1 = 1,081.1900 won) (Reporting by Hyunjoo Jin; editing by Stephen Coates)

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