Korea Exchange Bank to Be Sold

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 would convene a board meeting on Tuesday for final approval, reports Reuters.

(Reuters) – 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 .

The KEXIM official said that the bank would convene a board meeting on Tuesday for final approval. ($1 = 1158.6500 Korean won) (Reporting by Ju-min Park; Editing by David Chance)