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COMMERZBANK NOTIFIES KOREA EXCHANGE BANK OF STAKE SALE.
SEOUL, Mar 1 Asia Pulse - Commerzbank of Germany has notified Korea Exchange Bank (KEB) of an intention to sell part of its stake in the lender, KEB officials said Tuesday.
The German bank currently owns 14.6 per cent of KEB, the fifth-largest lender in South Korea. U.S. investment fund Lone Star, KEB's controlling shareholder, is also seeking to dispose of its 50.53-percent interest.
"We have received a formal notice from Commerzbank, our No. 2 shareholder, to sell part of its stake," a bank official said.
The stake sale is part of Commerzbank's plan to unload non-strategic shareholdings, and the German bank said it has a ...
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...giving its approval for the sale of Korea Exchange Bank (KEB) by Lone Star Funds to British...connection with Lone Star's takeover of KEB's credit card unit in 2003. Prosecutors...prices related to its purchase of the KEB's credit card unit, the legal...
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- News wire article from: YON - Yonhap News Agency of Korea April 12, 2006 700+ words
...data on the financial health of Korea Exchange Bank (KEB) to facilitate the lender's sale...lowered capital adequacy ratio of KEB to the Financial Supervisory Commission...Inspection. The lowered estimate of KEB's financial health made the bank...