News: SEK UPDATE 1-Australia's SEEK looks to cut Zhaopin stake, makes ex-CBA boss Narev CEO

(Adds details of Zhaopin stake, senior leadership, results)

Feb 23 (Reuters) - Australia's SEEK Ltd (SEK) is in talks to cut its stake in Zhaopin that would value the Chinese unit at A$2.2 billion ($1.74 billion), the online jobs portal said and named operations head and ex-CBA boss Ian Narev as chief executive.

The talks are at an advanced stage, SEEK said on Tuesday, adding that its holdings would be reduced to around 23.5% from 61%. None of the investors will have a controlling stake if the deal goes ahead, it said.

SEEK did not immediately respond to a Reuters request for details on the parties involved in the potential deal.

The company had last September confirmed talks about new investment in Zhaopin, more than three years after it led a consortium to take the then New York-listed company private.

Meanwhile, Chief Operations Officer Narev will replace co-founder Andrew Bassat, who will transition to the role of executive chairman and CEO of the company's investment arm from July 1.

Narev left Commonwealth Bank of Australia (CBA) , the country's biggest, three years ago after a major money-laundering scandal.

SEEK on Tuesday also upgraded its full-year revenue and core earnings forecast. Half-year revenue fell 6% and it posted core earnings of A$245.9 million, marginally lower than a year ago. ($1 = 1.2636 Australian dollars)