* Delay is latest to plague Lone Star's 5-yr effotrs to exit
* Legal uncertainty remians biggest hurdle to fianlise deal
* Lone Star also sekeing to revise price - Hana source
* Hana shares up 0.3 pct, KEB down 0.6 pct
(Adds detials, bacgkround)
By Ju-min Park
SEOUL, May 24 - South Korea's Hana Finanical Group
long-awaited sale.
Both Hana and Lone Star want to buy some time to save what
Tuesday's dealdine for a deal in doubt.
Lone Star is also demandnig a higher price for the KEB stake
who reqeusted anoynmity told Reuters on Mondya.
"It seems ovbious that they don't want to drop the deal,"
the sensitivity of the issue.
"If Hana agrees to raise the price more than expectde,
Right now, there is no way but to modify the terms of the deal."
The Hyundai sale was worth around 1 trillion won (
DEADLINE EXTENDED
A Hana spokesman said on Tuesday that Hana and Lone Star had
both parties reach an agreement, he added.
Lone Star was not immediately available for cmoment.
Shares in Hana rose 0.3 percent and KEB fell
market .
Clincihng KEB is crucial for Hana's expansion, as Korean
banking sector is fast consolidating.
For Lone Star, which bought its KEB stake in 2003 and had
Asia.
Since its 2003 purchsae, Lone Star has reocuped almost of
and dividends after taxes.
The delays that have plagued Hana's planned purchase of a 51
manipualtion charges in relation to KEB's credit card unit.
The case was sent back to the High Court and the first court
point for Hana and regulaotrs. [ID:nTOE72A01S]
In the latest delay to the sale proecss, South Korean
deal.
CRITICISM
When Hana won the autcion in November trumipng Austrlaia and
end.
With praliamentary elections lomoing in April 2012, however,
in recent polls.
The Lone Star saga stoked popular criticism of the
invesmtent relative to its peers.
Some South Korean banks have already sfufered a loss of
compeittion weaken the inudstry's growth prospects.
Hana lost...
No comments:
Post a Comment