Woori Tobacco will be sold along with subsidiary Woori Tobacco Sales, the listed South Korean tobacco distributor, reported Edaily.

The report, which cited information released by the company, noted that the unlisted South Korean tobacco maker is open to offers from overseas buyers.

According to the report, Woori would start accepting proposals in May and plans to complete negotiations with a potential buyer by June.

Woori Tobacco was put under rehabilitation in December 2008 and its going concern value is KRW 107bn (USD 94m), according to an inspection report prepared by the Daejeon District Court.

(Source: Edaily)