A consortium of South Korea's LG International Corp and GS Holdings has been chosen as the preferred bidder to buy a controlling stake in STX Energy Co Ltd worth around $570 million, the bidders said on Wednesday.

Japan's Orix Corp put up more than half of the 96.31 percent stake in STX Energy it owned as of end-September for sale earlier this year, after acquiring a controlling stake in STX Energy from debt-ridden STX Corp in July.

The LG and GS consortium is expected to acquire about a 72 percent stake in the heating-and-power company for more than 600 billion won ($570 million), the Korea Economic Daily cited unnamed investment banking sources as saying on Wednesday.

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