Korean court favors Lone Star in $159m KEB tax case
Lone Star Funds is closing in on a KRW177.2 billion ($159 million) payout from the South Korea tax authorities after a court said the PE firm should be refunded taxes levied on its sale of a stake in Korea Exchange Bank (KEB).
Lone Star, which acquired KEB in 2003, made a partial exit in 2007 via a block sale worth KRW1.19 trillion and sold the rest of its holding to Hana Financial Group for KRW3.92 trillion in 2011. Local tax...
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