BEIJING, March 26 (Reuters) - China-based Ninestar Corp

plans to sell printer and printing software maker

Lexmark International II to Xerox in a deal estimated at

up to $150 million, a fraction of the price Xerox disclosed in

December.

Ninestar said in an exchange filing on Wednesday that it has

estimated the transaction price to range from $75 million to

$150 million, based on Lexmark's latest operational status.

Xerox said last December it had agreed to buy Lexmark in a

deal valued at $1.5 billion, including assumed liabilities from

Ninestar, private equity firm PAG and Shanghai Shouda Investment

Centre, to expand its presence in Asian markets.

Reuters could not immediately determine why the deal value

Ninestar disclosed is different from Xerox's December

announcement.

Formed out of IBM in 1991, Lexmark was sold to a group of

Chinese investors in a $3.6 billion deal in 2016. The deal would

bring Lexmark back to U.S. ownership.

Xerox had expected the deal to immediately aid profit and

deliver more than $200 million in annual cost savings, including

by helping cut marketing and real estate expenses, the December

announcement showed.