Update: Lone Star may sell KEB for 11% less
Lone Star is reportedly looking to sell its stake in Korea Exchange Bank (KEB) to Hana Financial Group at an 11% discount to its previously discussed price of KRW4.4 trillion ($3.8 billion). That price is a further reduction on the 7% discount reported earlier this week.
The news signifies that the drawn-out sales saga may be coming to an end. Earlier this week, domestic media reported that the parties may decide to cut the price of KEB's shares by approximately KRW1,000...
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