Carlyle, KKR may back Hana KEB buy: reports
The Carlyle Group and Kohlberg Kravis Roberts & Co. have been cited as potential financial backers of Hana Financial Group's acquisition of Korea Exchange Bank (KEB) from Lone Star Funds for $4 billion, according to reports.
The original Reuters report indicated that Hana might seek up to half of the funding for the transaction from private equity sources, including Carlyle and KKR., for the cost of the 57.27% stake in KEB held by Lone Star Funds and the Export Import Bank of Korea. Sources close to KKR and Carlyle declined to comment on the reports to AVCJ.
The reports, if true, would go far toward settling one of the outstanding issues around Hana's acquisition of KEB. AVCJ sources had previously highlighted Korean labor unions' objections to the deal on the grounds that Hana had only half of the required acquisition capital on hand. Funding was seen as one of the key determinants of a successful outcome for the deal.
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