S&T Group, a listed South Korean conglomerate, is interested in acquiring stake in Korea Delphi Automotive Corp. (KDAC), reported Edaily.
The report cited president Choi Pyung-gyu as saying that his group will be considering acquiring a stake in the privately held auto parts maker if it comes with a reasonable price.
The group already owns an 8.94% stake in KDAC through S&T Daewoo, a subsidiary of the group. Choi was cited as saying that, however, if the sale price is not reasonable, the group may sell its stake together.
According to another item carried by Money Today, listed South Korean peers such as Kolon and Mando could also be suitors in the sale.
The report cited an unspecified investment bank source as saying Kolon is one of the companies that are interested in buying the car parts maker, and KDAC sale could draw interest from the listed South Korean machinery maker.
An unsourced part of the report said Kolon could also seek to acquire KDAC, in order to diversify its client base.
As reported earlier, the sale of a 50% stake in KDAC is being held by the creditors of Daewoo Group.
Sources: Money Today (translated), Edaily (translated)
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