Lone Star may be told to sell down KEB stake next month - report
South Korean regulators may order Lone Star to sell down its 51% stake in Korea Exchange Bank (KEB) to less than 10% next month. The move comes after the US private equity fund was found guilty of manipulating KEB’s stock price ahead of purchasing the group, and ordered to pay KRW25 billion ($21 million) in damages.
Sources close to the process told Reuters that regulators are in the process of completing the technical procedures that precede the official sell down order, meaning Lone Star could receive the order...
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