SEOUL-- Hanssem Co., a major South Korean home furnishing company, said Wednesday it plans to sell a controlling stake to private equity firm IMM.
IMM will begin due diligence of Hanssem and is expected to sign a final contract to buy the stake in the second half of this year.
If the contract is completed, IMM will become a major shareholder of Hanssem, market watchers said.
The size of the stake IMM will buy was not clear, but Hanssem's honorary chairman and 25 people who have a "special relationship" with him held 30.21 percent of stake in Hanssem as of end-March.
Source: Yonhap News Agency