Lone Star has six months to reduce KEB stake
Lone Star may have no more than six months to reduce its stake in Korea Exchange Bank (KEB) to 10% or lower after Korea’s Financial Services Commission said Monday that it had begun the process of ordering a divestment. The move comes in response to a court ruling that found the US private equity fund had manipulated KEB’s stock price ahead of purchasing the group.
Lone Star has one week to submit any opinions or objections, Reuters reported. It was reported last week that the private equity firm has decided against appealing the court's decision that it should pay...
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