Korea Gas Corp: To Buy Blue Energy Stake For KRW12.8B
SEOUL (Dow Jones)--South Korea's state-run Korea Gas Corp. (036460.SE), or Kogas, said Friday that it plans to purchase 62.855 million new shares to be issued by Blue Energy (BUL.AU) for around KRW12.8 billion ($10 million) in July or August. The shares will be purchased after receiving approval from the Australian government, Kosgas said in a regulatory filing. Kogas said it will buy the shares through its unit in Australia, Kogas Australia Pty. Kogas said that the share purchase will be a stepping stone for Kogas to enter the Australian energy market.
