Hana to pay addtional $79M for KEB takeover

Hana Financial Group is expected to pay an additional US$79 million to U.S. buyout firm Lone Star for the r Korea Exchange Bank takeover.

In the contract, Hana Financial agreed to allow Lone Star to receive as much as US$249 million in 2010 dividends from Korea Exchange, or US$0.7567 per share.

But Korea Exchange decided earlier in the day to pay 580 won in dividends per share, which will allow Lone Star to reap around US$170 million in dividends.