hsbc-targets-korea-exchange-bank

HSBC targets Korea Exchange Bank

HSBC may acquire Lone Star's 51% stake in KEB, but onlookers remain sceptical that the deal will progress given previous hiccups.
HSBC confirmed yesterday that it is in talks with US private equity firm Lone Star to buy a majority stake in Korea Exchange Bank. At current market prices for KEB, the deal could be worth around $5 billion.

HSBC spokesperson David Hall from Hong Kong told FinanceAsia that, in the event of a deal, it is envisaged that KEB will retain its existing listing and name. Protection of employment at the Korean bank will also be a significant factor.

Sources close to the development suggest that it is too early for euphoria and that the HSBC statement confirming the talks should not be construed as suggesting that a deal is imminent. They say...
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