State-run Korea Development Bank has put STX Engine up for sale. The marine engine manufacturer has been in restructuring for the past four years in the wake of the STX Group running into financial difficulties.
Some 24.07m shares of STX Engine, equivalent to an 87.04% stake of the engine maker, will be sold.
Potential buyers are asked to submit their letters of intent to buy the stake by August 2. The company is the largest marine engine maker in South Korea.