Published October 06, 2011
Lone Star loses key case in Korea
Korea Exchange Bank, an albatross of an investment for private equity player Lone Star, may now see its sale controlled by the state, at the cost of finance Hana Financial’s future.
When Lone Star Holdings bought a 51% stake in Korea Exchange Bank (KEB) in 2003, it was the third private equity player in Korea to buy a majority share in a bank after Newbridge (Korea First Bank) and Carlyle (KorAm). Those two players are long-gone, having realised billion-dollar returns on their ...