{"id":8545,"date":"2008-09-05T00:00:00","date_gmt":"2008-09-05T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"lone-star-may-sue-south-korea-government-on-keb-deal","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/09\/2008\/lone-star-may-sue-south-korea-government-on-keb-deal.html","title":{"rendered":"Lone Star may sue South Korea government on KEB deal"},"content":{"rendered":"<p>Reuters &#8211; U.S. private equity house Lone Star is seriously considering suing the South Korean government if it delays approval beyond September of the firm&#8217;s $6.3 billion sale of shares in a local bank, a newspaper reported on Friday.       <\/p>\n<p>English language daily The Korea Times said Lone Star was mulling a suit claiming losses from the government for delaying the sale of shares in Korea Exchange Bank.<\/p>\n<p>Lone Star&#8217;s PR agency in Seoul declined to comment and a lawyer representing Lone Star was not available for immediate comment.<\/p>\n<p>Last September, Lone Star LS.UL agreed to sell its 51 percent stake in KEB the country&#8217;s No. 6 lender, to UK-based HSBC for $6.3 billion.<\/p>\n<p>But HSBC&#8217;s offer lapsed on July 31, with the government delaying approval of the KEB sale, citing legal uncertainties relating to Lone Star&#8217;s South Korean activities. The deal is still awaiting regulatory approval.<\/p>\n<p>&quot;Beleaguered with growing complaints from investors, Lone Star is considering returning its KEB shares in-kind to investors as one possible option, together with a block sale option,&quot; the Korea Times cited an unnamed source close to the deal as saying.<\/p>\n<p><a href=\"http:\/\/in.reuters.com\/article\/privateEquity\/idINSEO15006820080905?sp=true\" target=\"_self\">Read Complete Article<\/a>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reuters &#8211; U.S. private equity house Lone Star is seriously considering suing the South Korean government if it delays approval beyond September of the firm&#8217;s $6.3 billion sale of shares in a local bank, a newspaper reported on Friday. English [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[2528,859,2530,2532,755,2531,2529,1996,720,117,1487,393,1578,236],"class_list":["post-8545","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-afs","tag-aftermath","tag-beer-company","tag-brainer","tag-confines","tag-david-hall","tag-economic-recession","tag-frank-morgan","tag-fund-managers","tag-investment-arm","tag-investment-opportunities","tag-proceedings","tag-real-estate-information","tag-trillion"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8545","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=8545"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8545\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=8545"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=8545"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=8545"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}