Hana, Lone Star Extend Deal for Six Months

After regulatory hurdles and delays nearly squashed the $4.3 billion deal for Korea Exchange Bank, South Korea's Hana Financial Group and buyout shop Lone Star have reportedly managed to extend the deal for six months, Reuters reported, citing the Seoul Economic Daily. The paper wrote that Hana would acquire a less than 10% stake in KEB as a means to ensure its commitment to the deal. Lone Star bought KEB in 2003 for $1.2 billion.

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