SEOUL: US investment firm Lone Star signed a US$1.2bil deal yesterday to take control of Korea Exchange Bank (KEB), marking the largest-ever foreign investment in South Korea's financial sector.
At the same time, the country's fourth-biggest lender, Hana Bank, said it was in talks with Japan's Shinsei Bank – which is controlled by another US private equity fund, Ripplewood – to sell a near 19% stake valued at US$525mil at current market prices.
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