Hana to take over stake from Lone Star and possibly from the Export-Import Bank of Korea.
Hana Financial Group has agreed to initially buy a 5 percent stake in Korea Exchange Bank (KEB) from U.S. buyout fund Lone Star to keep its planned $4.3 billion takeover of KEB alive, the Maeil Business Newspaper reported, citing unnamed industry sources.
The stake will be taken over from Lone Star and possibly from the Export-Import Bank of Korea.
A Hana spokesman said he could not confirm the report.
Hana has been in talks with Lone Star to buy a small stake in KEB to keep both parties committed to the deal, which has been hit by regulatory delays, according to a report in Reuters.
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