Lone Star selling stake in Korea Exchange Bank

Lone Star, the Texas-based private equity firm, is discussing selling a 25 percent stake in Korea Exchange Bank to buyout fund MBK Partners after talks with rival bidder Australia and New Zealand Banking Group (ANZ), failed to date to produce a bid for a 57 percent stake. The 57 percent stake would be worth about $4.5 billion, but ANZ has not yet done its due diligence.

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