• Parnas creates S Korean buzz
Bidders are lining up to pitch for South Korean hotel group Parnas Hotel Co. A majority 67.6% stake is being sold in the company and is likely to fetch USD580-780m, reports Reuters. 

Among bidders is Hong Kong based Gaw Capital Partners, which invested USD225m in the country in May. Parnas operates two luxury hotels, a tourist hotel and a convention centre across Seoul.
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