Local private equity investment firm chosen as preferred bidder for SK Encar

Hahn & Company, a local private equity investment firm, was selected as the preferred bidder for the offline division of SK Encar, a major secondhand car seller, sources said Wednesday.

Hahn & Company is known to have proposed purchasing it for around 200 billion won ($179 million), according to the sources.

SK Holdings has reportedly decided to sell the offline division as it was designated in 2013 as a business suitable for small and medium-sized companies.

SK Encar has 26 regional trading offices across the country through which it sold 68,000 used cars last year. (Yonhap)