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KOOKMIN BANK PRESIDENT HOPEFUL OVER FINDING NEW BUYOUT TARGETS.
SEOUL, Dec 1 Asia Pulse - The president of Kookmin Bank (KSE:060000) said Friday there are attractive buyout targets for the nation's top lender both in and outside of Korea.
"There can be opportunities for mergers and acquisition in and outside South Korea again," President Kang Chung-won said in a monthly address to employees. "To grasp such chances, the bank should boost its capability within itself."
The comment comes after the Kookmin Bank's deal to acquire smaller Korea Exchange Bank (KEB) (KSE:004940) broke off last week as a result of major KEB shareholder Lone Star's rejection. Lone Star withdrew the US$7.4 billion deal, citing the ongoing investigation into Lone Star and KEB by Seoul prosecutors.
"It was a sheer disappointment that the KEB deal failed," Kang said. "Despite the failure, ...
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Source: HighBeam Research, KOOKMIN BANK PRESIDENT HOPEFUL OVER FINDING NEW BUYOUT TARGETS.