Lone Star, the US-based private equity fund, will try to sell listed Korea Exchange Bank again, Maeil Business reported, citing Larry A. Klane, CEO of KEB.
The report said Klane announced that Lone Star would begin selling its 51.02% share in KEB.
He said the preferred bidder would be selected from strategic financial investors with broad qualifications from both Korea and abroad. He added that there was presently no preferred bidder.
KEB has a market capitalization of KRW 8.67trn (USD 7.66bn).
See previous post ‘KEB Sale Jumps Another Hurdle‘ for more information and links.
And see here for a Business Week article on today’s announcement.
(Source: Maeil Business)
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