World Business

S Korean power company considers acquiring German energy firm

(Xinhua)
Updated: 2010-06-25 17:37

SEOUL - South Korea's State-run power provider Korea Electric Power Corporation (KEPCO) is considering taking over the entire stake of German energy firm Choren Industries, local media said Friday.

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Samjong KPMG, a South Korean unit of the global services firm KPMG, will be picked as KEPCO's main manager to arrange the acquisition, Yonhap News Agency said.

Germany's Choren is a company with 300 billion won ($246.5 million) in assets that engages in coal conversion into gas.