Lone Star to sell out of another bank
As it discusses selling 25 percent of its stake in Korea Exchange Bank, Texas-based private equity firm Lone Star is also getting read to sell German Bank IKB, with the deal expected to be completed in the first quarter of 2011 according to Reuters. IKB was the first German victim of the U.S. subprime mortgage crisis and Lone Star bought 91.5 percent of the bank’s shares after it was bailed out by Germany. No price has yet been announced.
13 October 2010•2 mins read
