Lone Star, Hana agree on cut-price deal for KEB
Lone Star will sell its stake in Korea Exchange Bank (KEB) to Hana Financial Group for just over KRW4.4 trillion ($4.16 billion), after both sides agreed to cut the price tag by KRW283 billion ($266 million). The price for the 51% stake in KEB has been reduced to KRW13,390 per share from KRW14,250 per share, local media reported.
Last week Lone Star and Hana were said to have extended negotiations over the deal by six months. Lone Star, which bought the stake in KEB in 2003, has been trying to exit for some months, but Korean regulators...
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