UPDATE 1-Barrick to sell part of its stake in African Barrick

(Adds background on sale process, paragraphs 3-6)

TORONTO, March 10 (Reuters) - Barrick Gold Corp ABX.TO said on Monday it plans to sell about 13.5 percent of its holdings in its majority-owned subsidiary African Barrick Gold

ABGL.L .

Toronto-based Barrick, which owns a roughly 74 percent stake in Barrick, will still own a majority position in the company following the sale.

The move is the latest attempt by the world's largest gold miner to trim its asset base and reduce its exposure to higher cost assets.

In 2012, the company attempted to sell a part, or all of its interest in African Barrick Gold to China National Gold Group, but those talks fell apart last year.

The company has since gone on to sell a number of non-core assets. In January, Barrick Gold agreed to sell its Kanowna gold mine in Western Australia to Northern Star Resources for A$75 million. News Search ID:nL2N0KW23X

Last August, the company said it has agreed to sell its Granny Smith, Lawlers and Darlot gold mines in Western Australia to Gold Fields GFIJ.J for $300 million.

The sale of the 41 million African Barrick shares represents about 10 percent of the company's outstanding share base.

The shares will be sold to institutional investors and Barrick has appointed UBS Ltd, J.P. Morgan Securities and RBC Europe Ltd to act as joint book runners in relation to the deal.

(Reporting by Euan Rocha; Editing by Grant McCool)

((euan.rocha@thomsonreuters.com)(+1 416 941 8185)(Reuters Messaging: euan.rocha.reuters.com@reuters.net))

Keywords: BARRICKGOLD AFRICAN/