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PRINT THIS PAGE Lone Star reportedly plans to sell Korea Exchange Bank18/08/2005. Source: AltAssets. 
 US private equity firm Lone Star plans to sell its controlling stake in Korea Exchange Bank, the Financial Times reported. The divestment could value KEB at more than $6bn.
KEB has 324 domestic branches and 28 overseas branches and subsidiaries.
Lone Star acquired its stake in South Korea's fifth-largest commercial bank for $1.2bn in summer 2003. Other major shareholders include German Commerzbank and the South Korean government.
The lock-up period on Lone Star's stake in the Korean bank ends in October 2005.
There has been interest from international banks and Korean financial institutions such as Shinhan Financial Group and Hana Bank.
Copyright © 2005 AltAssets
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