16 November 2011 - South Koreaa[euro](tm)s Financial Services Commission (FSC) said today it will decide on Friday whether to force Lone Star to sell down its 51.02% holding in Korea Exchange
Bank (SEO:004940), or KEB, clearing the way for the US fund to wrap up its KRW4.41trn (USD3.9bn/EUR2.9bn) deal with Hana Financial (SEO:086790).
Citing an unnamed source, the report said that the fine against Deutsche Securities will likely exceed KRW250m (USD224, 855), the present record for fines issued by the Korea Exchange
against a securities firm.
18 August 2010 - US private equity firm Lone Star will abandon plans to offload its 51% interest in Korea Exchange
Bank (SEO:004940) in view of lukewarm investor demand, the Seoul Economic Daily wrote on Tuesday citing private equity source familiar with the deal.
Hana dismissed last week a report that it had asked Lone Star to reduce by USD803m the price agreed for the KEB stake to reflect the recent decline in KEB stock value.Country: , South KoreaSector: Banking/Financial ServicesTarget: Korea Exchange
Bank (KEB)Buyer: Hana Financial Group IncVendor: Lone Star FundsDeal size in USD: 4.1bnType: DivestmentStatus: Agreed
Hana has also finalised a plan to initially acquire 0.62 percent of Korea Exchange
Bank from the Export-Import Bank of Korea, which has rights allowing it to sell its shares to the buyer of Lone Star's stake, the report said.
Hana is looking to sell KRW1.2tn worth of new shares to fund the purchase of Korea Exchange
Bank in a KRW4.7tn deal.
M2 EQUITYBITES-March 29, 2011--S&P upholds ratings of Hana, Korea Exchange
Bank(C)2011 M2 COMMUNICATIONS http://www.m2.com
The board of Hana Financial (PINK: HNFGF) has approved the acquisition of Korea Exchange
Bank (PINK: KOOQF) (KEB).
BANKING AND CREDIT NEWS-27 April 2010-HSBC says not among bidders for Korea Exchange
Bank(C)1994-2010 M2 COMMUNICATIONS http://www.m2.com
19 October 2011 - Hana Financial (SEO:086790) dismissed on Wednesday a report that it had asked Lone Star to reduce by KRW920m (USD815m/EUR589.4m) the USD4.1bn (EUR2.97bn) price agreed for the US funda[euro](tm)s 51% in Korea Exchange
Bank (SEO:004940), or KEB.