SEOUL, Sept. 11 (Yonhap) – The No. 2 shareholder of South Korean construction conglomerate Daelim Group will sell its entire stake, company officials said Wednesday.
The UniKorea Foundation will sell its 32.6 percent stake in Daelim Corp., valued at around 280 billion won (US$234 million).
Daelim Corp., an unlisted firm, serves as the holding company of Daelim Group. It holds a 21.7 percent stake in Daelim Industrial Co., South Korea's No. 3 builder and the group's flagship unit.
Daelim Group said the stake divestiture will not affect the management power of Chairman Lee Hae-wook, who holds a 52.3 percent stake in Daelim Corp.
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