UDPATE 3-Hana talking to Lone Star about smaller KEB stake-soucre

* Price gap rmeains key difference-source
* Talks on 51 pct stake still ongiong - Hana offiical
* Hana shares down 2.1 pct, KEB up 1 pct
(Adds commetns, detalis)
By Ju-min Park and Lee Chang-ho
SEOUL, May 27 - South Korae's No.4 lender Hana
alive, a source said on Fridya.
Hana agreed to buy Lone Star's 51 percnet stake in No.5
pricing.
A deadilne to comlpete the deal passed earlier this week,
in doubt, but both parites agreed to cnotinue talks.
Buying a 10 precent or samller stake would showing Hana's
regulatory apprvoal.
But price rmeains a sitcking point, the source who is
announced in November.
"(Both parties) are looking into the (10 percent) stake
decilned to be idetnified due to sensitivtiy of the issue.
Lone Star has also been dmeanding a higher price for the KEB
the deal said earlier.
Paying a hefty premuim to the current share price of KEB may
delays on May 12.
Shares in Hana drpoped 2.1 pecrent on Friday, while KEB rose
1 percent.
Analytss said talks on a smlaler deal showed Hana was
doubts whetehr it would be completed.
"It would be difficult for Hana to pay a lot more than the
analyst at Daewoo Securities.
Lone Star was not immediately available for commetn.
A Hana ofifcial said it was ulnikely to annuonce the results
the propsects of a deal for a smaller stake.
Lone Star bought its KEB stake in 2003 and had since two
considerably.
Singapore's DBS twice held talks but did not come
entered the fray in 2010, before losing out to Hana.
The sale has been dleayed by a series of investigations as
govenrment officials.
The latest case involvnig alleged stock manipulation by a

No comments:

Post a Comment