HSBC's purchase of KEB boosted by FSC statement

Korea's financial regulator announces a review of Lone Star's sale of its KEB stake to HSBC as the July 31 deadline approaches.

South KoreaÆs financial watchdog, the Financial Services Commission FSC, has announced that it intends to start a regulatory review of the sale of Lone StarÆs controlling stake in Korea Exchange Bank KEB to HSBC Holdings this week, ahead of the July 31 deadline for finalising the $6.3 billion deal.

The sale of KoreaÆs fifth biggest bank, which was agreed between HSBC and US private equity firm Lone Star last September, has been delayed as the FSC has withheld approval...

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