South Korea’s CJ Group has been picked as a preferred bidder to buy a controlling stake in South Korean logistics company Korea Express, The Wall Street Journal reports. Asiana Airlines and Daewoo Engineering & Construction will sell their combined 37.6% stake.

The Posco Samsung SDS consortium has been named as the reserve bidder for the stake sale. Korea Development Bank along with Nomura is leading the sale process.

Click here for the story from The Wall Street Journal.

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