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18 investors willing to buy Woori Bank stake

Eighteen investors submitted letters of intent (LOI) to buy the government’s 30% minority stakes in Woori Bank in a preliminary bidding. The amount of satkes for which the investors bid adds up to 82 to 119 percent of Woori Bank.

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The investors who submitted LOIs will be given opportunity to conduct due diligence which is planned to take place in end-September. Final bidders will be shortlisted in mid-November to close the sale by the end of the year.