ANZ, the Australian-listed bank, has decided not to bid for a controlling stake in Korea Exchange Bank, Reuters reported.
According to the report, citing Yonhap News, private equity group MBK Partners in the only bidder to have offered a letter of intent for the 51% stake, valued at USD 4bn.
The report said that other bidders, including ANZ and Standard Chartered, did not offer proposals.
It was earlier reported that MBK is thought to be partnered with Japan’s Nomura Holdings.
See here for all stories on Lone Star’s sale of its stake in Korea Exchange Bank.
Sources: Yonhap News (translated), Reuters
More From privateequitykorea
No related posts.
