SEOUL Reuters South Koreas state-run National Pension Service is seeking to acquire a 23 percent stake in U.S. pipeline operator Colonial Pipeline from Chevron Corp, the worlds No.5 pension fund said on Monday.
A preferred bidder for the stake, which media have estimated is valued at 1 trillion won $845 million, is likely to be decided in a couple of weeks, an official at the fund said.
Colonial Pipeline operates 8,900 km of oil pipeline running from Texas to New York.
The investment plan by NPS, which manages nearly 300 trillion won in assets, comes after it recently agreed to buy a controlling stake in a French shopping mall for 217 million euros $275.7 million.
Reporting by Miyoung Kim; Editing by Jonathan Hopfner
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