Lone Star may exit KEB - at last
The long-running saga of Lone Star Funds' repeated efforts to exit its investment in Korea Exchange Bank may be drawing to a close, as John Grayken, Lone Star managing partner, announced that the firm expects to sell its 51% stake within the next six months.
The final valuation on any sale is still unclear, but Grayken said that Lone Star has already recovered half of its $1.2 billion 2003 investment through a special dividend. He cited ebbing populist pressure...
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