HSBC and Lone Star extend KEB sale deadline

HSBC continues in its quest to expand in Korea, while Lone Star hopes to finally make an exit from a debilitating investment.

HSBC and Lone Star announced yesterday that they have agreed to extend by a further three months the deadline for completion of the UK bankÆs proposed purchase of 51.02% of Korea Exchange Bank KEB, subject to approval from KoreaÆs Financial Services Commission FSC.

The deadline for closing the deal, which was announced on September 3 last year, had been fixed at April 30 it must now be closed by July 31, although it can be extended by a...

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