Belgium has pared back its public debt with the sale of the structured credit portfolio held by its ‘bad bank, Royal Park Investments, to U.S. private equity firm Lone Star and Credit Suisse, writes Reuters. Finance minister Koen Geens said in March that Belgium needed to find a further 1 billion euros ($1.30 billion) from asset sales to ensure that national debt did not rise above GDP, writes Reuters.
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South Korea’s Export-Import Bank of Korea is set to exercise its right to sell a 6.25 percent stake in Korea Exchange Bank, a KEXIM official said, under the same terms as U.S. private equity fund Lone Star‘s 11,900 won per share sale to Hana Financial Group, writes Reuters. The KEXIM official said that the bank [...]
U.S. private equity firm Lone Star is the preferred bidder for Lloyds Banking Group‘s 1 billion pounds ($1.6 billion) Project Royal portfolio of UK commercial property debt, Reuters wrote Wednesday. Lone Star’s bid was backed by about 300 million pounds of senior debt from Royal Bank of Canada and Citigroup, Reuters reported.
Lone Star has agreed to cut the price of its 4.4 trillion won ($3.9 billion) stake sale in Korea Exchange Bank to Hana Financial Group Inc. by about 11%, Reuters reported Thursday. Lone Star bought into KEB in 2003 and has seen two failed sales attempts — first to Kookmin Bank for $7.6 billion in 2006 and to HSBC Holdings Plc for $6.3 billion in 2008, Reuters wrote.
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French bank Société Générale is selling property loans worth more than 600 million euros ($801 million) reports Reuters. The Financial Times said it believes SocGen has invited a range of companies including private equity groups like Blackstone, Carlyle, Lone Star and Oak Tree and Italian hedge fund Chenavar to bid for the loans, writes Reuters. [...]
Buyout firm Lone Star is selling its entire stake in PGM Holdings, one of Japan’s largest golf course operators, for 39.5 billion yen ($521 million), Reuters reported. Lone Star has agreed to sell the 64% stake to Japanese “pachinko” pinball machine maker Heiwa Corp.
A Seoul, South Korea, court ruled Thursday that Dallas-based private equity firm Lone Star was guilty of manipulating stock prices in connection with a Korea Exchange Bank unit, Reuters reported Thursday. The ruling is in connection to Lone Star’s proposed deal to sell 51% of KEB to Hana Financial Group for $4.1 billion.
The Export-Import Bank of Korea will sell a 6.25% stake in Korea Exchange Bank to Hana Financial Group, under the same terms as U.S. private equity fund Lone Star‘s $4.1 billion sale to Hana, Reuters reported Monday. Under what is called a “tag along” right, the bank can ask Hana to buy its stake, which is valued at about 540 billion won ($513.3 million), Reuters wrote.
A Korean judge ordered Lone Star’s former head of Seoul operations, Paul Yoo, to be arrested, saying he was a flight risk, Reuters reported. The arrest is the latest incident in the drama of Lone Star’s attempts to sell its majority stake in Korea Exchange Bank. The buyout firm planned to sell KEB to Hana Financial Group in a $4.1 billion, but the deal has been halted by charges that Lone Star manipulated stock prices in the run-up to its acquisition, Reuters wrote.