lone-star-sells-keb-shares-on-the-open-market

Lone Star sells KEB shares on the open market

The placement comes after the sale of a controlling stake to Kookmin was abandoned, but sources say it doesn't signal a change of exit strategy for the US private equity firm.
US private equity firm Lone Star last night sold an 11.3% stake in Korea Exchange Bank through the capital markets, raising W994.02 billion $1.07 billion.

The transaction comes seven months after Lone Star pulled out of an agreed sale of its entire 64.6% stake to Kookmin Bank after the deal had been delayed for more than half a year due to legal investigations into both Lone Star and KEB, as well as virtually any institution connected with the sale. Lone Star had been due to reap W6.95 trillion $7.4 billion from the sale of its share in KoreaÆs largest bank.

The sale of an 11.3% stake through the equity markets overnight has therefore...
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